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.
BlackLine Trading Up 6.9 %
Shares of NASDAQ:BL traded up $4.48 during trading on Wednesday, reaching $69.87. The company had a trading volume of 604,636 shares, compared to its average volume of 681,936. The company's fifty day moving average price is $68.86 and its 200-day moving average price is $71.19. BlackLine has a 12 month low of $49.66 and a 12 month high of $135.00. The stock has a market cap of $4.14 billion, a P/E ratio of -57.74 and a beta of 0.84. The company has a quick ratio of 3.45, a current ratio of 3.45 and a debt-to-equity ratio of 20.88.
BlackLine (NASDAQ:BL - Get Rating) last released its quarterly earnings results on Thursday, August 4th. The technology company reported $0.07 EPS for the quarter, beating analysts' consensus estimates of $0.01 by $0.06. BlackLine had a negative return on equity of 18.32% and a negative net margin of 15.09%. The firm had revenue of $128.48 million for the quarter, compared to analyst estimates of $126.54 million. During the same quarter in the previous year, the company posted ($0.08) EPS. The business's revenue was up 25.8% on a year-over-year basis. As a group, research analysts expect that BlackLine will post -0.86 earnings per share for the current year.
Wall Street Analyst Weigh In
BL has been the subject of several analyst reports. JMP Securities dropped their price objective on BlackLine from $145.00 to $112.00 and set a "market outperform" rating for the company in a report on Wednesday, April 20th. BTIG Research dropped their price objective on BlackLine from $115.00 to $95.00 in a report on Friday, May 6th. JPMorgan Chase & Co. dropped their price objective on BlackLine from $75.00 to $70.00 in a report on Friday, May 6th. StockNews.com raised BlackLine from a "sell" rating to a "hold" rating in a report on Monday. Finally, Robert W. Baird dropped their price objective on BlackLine from $105.00 to $95.00 in a report on Friday, May 6th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the company. According to MarketBeat, BlackLine currently has a consensus rating of "Hold" and a consensus target price of $96.89.
Insider Activity at BlackLine
In related news, CTO Peter Hirsch sold 2,592 shares of the company's stock in a transaction dated Monday, May 23rd. The stock was sold at an average price of $71.77, for a total transaction of $186,027.84. Following the sale, the chief technology officer now owns 38,391 shares in the company, valued at approximately $2,755,322.07. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, CTO Peter Hirsch sold 2,592 shares of the company's stock in a transaction that occurred on Monday, May 23rd. The stock was sold at an average price of $71.77, for a total transaction 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 document filed with the SEC, which can be accessed through this link. Also, Director Thomas Unterman sold 500 shares of the company's stock in a transaction that occurred on Wednesday, June 1st. The stock was sold at an average price of $73.70, for a total value of $36,850.00. Following the transaction, the director now directly owns 49,668 shares in the company, valued at $3,660,531.60. The disclosure for this sale can be found here. Insiders have sold a total of 4,092 shares of company stock worth $287,268 in the last 90 days. Corporate insiders own 9.71% of the company's stock.
