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 Stock Performance
Shares of NASDAQ:BL traded down $0.35 on Friday, reaching $67.27. 668,940 shares of the company's stock were exchanged, compared to its average volume of 642,659. The company has a fifty day moving average of $69.20 and a 200-day moving average of $71.59. BlackLine has a twelve month low of $49.66 and a twelve month high of $135.00. The company has a market capitalization of $3.99 billion, a price-to-earnings ratio of -55.59 and a beta of 0.84. The company has a current ratio of 3.45, a quick ratio of 3.45 and a debt-to-equity ratio of 20.88.
BlackLine (NASDAQ:BL - Get Rating) last issued its quarterly earnings results on Thursday, August 4th. The technology company reported $0.07 earnings per share for the quarter, topping analysts' consensus estimates of $0.01 by $0.06. BlackLine had a negative net margin of 15.09% and a negative return on equity of 18.32%. The company had revenue of $128.48 million during the quarter, compared to the consensus estimate of $126.54 million. During the same quarter in the prior year, the firm posted ($0.08) EPS. The firm's quarterly revenue was up 25.8% on a year-over-year basis. On average, research analysts predict that BlackLine will post -0.86 EPS for the current fiscal year.
Analyst Ratings Changes
A number of equities analysts have recently weighed in on the stock. StockNews.com cut shares of BlackLine from a "hold" rating to a "sell" rating in a research report on Monday, May 23rd. JMP Securities lowered their price objective on shares of 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 target on shares of BlackLine from $105.00 to $95.00 in a research note on Friday, May 6th. Bank of America lowered shares of BlackLine from a "neutral" rating to an "underperform" rating and decreased their price target 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, BTIG Research decreased their price target on shares of BlackLine from $115.00 to $95.00 in a research note on Friday, May 6th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $96.89.
Insider Transactions at BlackLine
In other news, CTO Peter Hirsch sold 2,592 shares of the company's stock in a transaction that occurred on Monday, May 23rd. The shares were sold at an average price of $71.77, for a total transaction of $186,027.84. Following the completion of the sale, the chief technology officer now owns 38,391 shares of the company's stock, valued at approximately $2,755,322.07. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, CTO Peter Hirsch sold 2,592 shares of the stock in a transaction that occurred 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 completion of the transaction, the chief technology officer now owns 38,391 shares of the company's stock, valued at approximately $2,755,322.07. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Thomas Unterman sold 500 shares of the stock in a transaction that occurred on Friday, July 1st. The shares were sold at an average price of $66.36, for a total transaction of $33,180.00. Following the completion of the transaction, the director now directly owns 50,130 shares of the company's stock, valued at approximately $3,326,626.80. The disclosure for this sale can be found here. In the last 90 days, insiders sold 4,092 shares of company stock valued at $287,268. Company insiders own 9.71% of the company's stock.
