BlackLine - BL Stock Forecast, Price & News

BlackLine, Inc. provides cloud-based solutions to automate and streamline accounting and finance operations worldwide. It offers financial close management solutions, such as account reconciliations that provides a centralized workspace for users to collaborate on account reconciliations; transaction matching that analyzes and reconciles high volumes of individual transactions; and task management to create and manage processes and task lists. The company's financial close management solutions also include journal entry that allows users to generate, review, and post manual journal entries; variance analysis that monitors and identifies anomalous fluctuations in balance sheet and income statement account balances; consolidation integrity manager that manages the automated system-to-system tie-out process that occurs during the consolidation phase of the financial close; and compliance, an integrated solution that facilitates compliance-related initiatives, consolidates project management, and provides visibility over control self-assessments and testing. In addition, it offers accounts receivable automation solutions, which include cash application, credit and risk management, collections management, disputes and deductions, team and task management, and AR intelligence solutions. Further, the company provides intercompany workflow that stores permissions by entity and transaction type thereby ensuring both the initiator and the approver of the intercompany transaction are authorized to conduct business; intercompany processing, which records an organization's intercompany transactions; and netting and settlement that generates a real-time settlement matrix, which shows the balance of transactions. The company sells its solutions primarily through direct sales force to multinational corporations, large domestic enterprises, and mid-market companies across various industries. BlackLine, Inc. was incorporated in 2001 and is headquartered in Woodland Hills, California.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the stock. BTIG Research cut their price objective on shares of BlackLine from $115.00 to $95.00 in a report on Friday, May 6th. JMP Securities lowered their target price on BlackLine from $145.00 to $112.00 and set a "market outperform" rating on the stock in a research note on Wednesday, April 20th. Robert W. Baird decreased their price objective on shares of BlackLine from $105.00 to $95.00 in a report on Friday, May 6th. Bank of America cut BlackLine from a "neutral" rating to an "underperform" rating and lowered their price objective for the company from $75.00 to $64.00 in a research note on Monday, July 18th. They noted that the move was a valuation call. Finally, StockNews.com raised shares of BlackLine from a "sell" rating to a "hold" rating in a research note on Monday, August 8th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat.com, BlackLine currently has an average rating of "Hold" and an average target price of $96.89.

BlackLine Trading Up 2.7 %

NASDAQ:BL traded up $1.84 during mid-day trading on Friday, hitting $69.76. 287,304 shares of the stock traded hands, compared to its average volume of 627,765. The company has a quick ratio of 3.45, a current ratio of 3.57 and a debt-to-equity ratio of 17.46. The firm's 50 day moving average is $68.55 and its two-hundred day moving average is $71.03. BlackLine has a 52 week low of $49.66 and a 52 week high of $135.00. The stock has a market capitalization of $4.16 billion, a price-to-earnings ratio of -57.65 and a beta of 0.84.

BlackLine (NASDAQ:BL - Get Rating) last released its earnings results on Thursday, August 4th. The technology company reported $0.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.01 by $0.06. The firm had revenue of $128.48 million for the quarter, compared to the consensus estimate of $126.54 million. BlackLine had a negative return on equity of 22.04% and a negative net margin of 15.09%. The firm's revenue was up 25.8% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.08) EPS. On average, equities research analysts predict that BlackLine will post -0.81 earnings per share for the current year.

Insider Transactions at BlackLine

In related news, CTO Peter Hirsch sold 2,592 shares of the stock in a transaction on Monday, May 23rd. The shares were sold at an average price of $71.77, for a total value of $186,027.84. Following the transaction, the chief technology officer now directly owns 38,391 shares of the company's stock, valued at approximately $2,755,322.07. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other BlackLine news, Director Thomas Unterman sold 500 shares of the firm's stock in a transaction that occurred on Friday, July 1st. The shares were sold at an average price of $66.36, for a total value of $33,180.00. Following the sale, the director now owns 50,130 shares in the company, valued at $3,326,626.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CTO Peter Hirsch sold 2,592 shares of the company's stock in a transaction on Monday, May 23rd. The shares were sold at an average price of $71.77, for a total value of $186,027.84. Following the sale, the chief technology officer now directly owns 38,391 shares of the company's stock, valued at $2,755,322.07. The disclosure for this sale can be found here. Insiders sold 4,092 shares of company stock worth $287,268 in the last 90 days. Insiders own 9.71% of the company's stock.