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.
Wall Street Analysts Forecast Growth
BL has been the subject of several research analyst reports. Bank of America cut BlackLine from a "neutral" rating to an "underperform" rating and dropped their price objective for the stock from $75.00 to $64.00 in a report on Monday, July 18th. They noted that the move was a valuation call. 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. 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. Finally, StockNews.com upgraded BlackLine from a "sell" rating to a "hold" rating in a report on Monday, August 8th. One 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. According to MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $96.89.
BlackLine Stock Up 0.6 %
Shares of NASDAQ:BL opened at $70.17 on Tuesday. BlackLine has a 52-week low of $49.66 and a 52-week high of $135.00. The firm has a market capitalization of $4.18 billion, a P/E ratio of -57.99 and a beta of 0.84. The stock has a 50 day moving average price of $68.43 and a 200-day moving average price of $70.76. The company has a debt-to-equity ratio of 17.46, a quick ratio of 3.57 and a current ratio of 3.57.
BlackLine (NASDAQ:BL - Get Rating) last posted its quarterly earnings data on Thursday, August 4th. The technology company reported $0.07 earnings per share for the quarter, beating analysts' consensus estimates of $0.01 by $0.06. BlackLine had a negative return on equity of 22.04% and a negative net margin of 15.09%. The company had revenue of $128.48 million during the quarter, compared to analyst estimates of $126.54 million. During the same quarter last year, the company earned ($0.08) EPS. The firm's revenue for the quarter was up 25.8% on a year-over-year basis. As a group, equities research analysts anticipate that BlackLine will post -0.81 EPS for the current fiscal year.
Insider Activity at BlackLine
In related news, Director Thomas Unterman sold 500 shares of the firm'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 transaction of $36,850.00. Following the completion of the transaction, the director now owns 49,668 shares of the company's stock, valued at approximately $3,660,531.60. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other BlackLine news, Director Thomas Unterman sold 500 shares of the stock in a transaction on Wednesday, June 1st. The stock was sold at an average price of $73.70, for a total transaction of $36,850.00. Following the sale, the director now directly owns 49,668 shares in the company, valued at approximately $3,660,531.60. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, 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 sale, the chief technology officer now owns 38,391 shares in the company, valued at $2,755,322.07. The disclosure for this sale can be found here. Insiders sold a total of 4,092 shares of company stock valued at $287,268 in the last 90 days. Corporate insiders own 9.71% of the company's stock.
