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.
Analyst Ratings Changes
A number of analysts have commented on the company. JPMorgan Chase & Co. reduced their price target on BlackLine from $75.00 to $70.00 in a research report on Friday, May 6th. Robert W. Baird cut their target price on BlackLine from $105.00 to $95.00 in a research report on Friday, May 6th. Bank of America cut BlackLine from a "neutral" rating to an "underperform" rating and cut their target price for the stock from $75.00 to $64.00 in a research report on Monday, July 18th. They noted that the move was a valuation call. StockNews.com upgraded BlackLine from a "sell" rating to a "hold" rating in a research report on Monday, August 8th. Finally, BTIG Research cut their target price on BlackLine from $115.00 to $95.00 in a research report on Friday, May 6th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, BlackLine presently has an average rating of "Hold" and an average target price of $96.89.
BlackLine Price Performance
BlackLine stock traded down $2.18 during midday trading on Friday, reaching $71.62. 10,421 shares of the stock traded hands, compared to its average volume of 545,232. The stock's fifty day moving average is $68.18 and its 200-day moving average is $70.69. BlackLine has a 12 month low of $49.66 and a 12 month high of $135.00. The stock has a market cap of $4.27 billion, a P/E ratio of -59.00 and a beta of 0.84. The company has a quick ratio of 3.57, a current ratio of 3.57 and a debt-to-equity ratio of 17.46.
BlackLine (NASDAQ:BL - Get Rating) last posted its quarterly earnings data 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 business had revenue of $128.48 million during the quarter, compared to analyst estimates of $126.54 million. BlackLine had a negative return on equity of 22.04% and a negative net margin of 15.09%. The company's revenue for the quarter was up 25.8% on a year-over-year basis. During the same period last year, the company earned ($0.08) EPS. As a group, equities research analysts anticipate that BlackLine will post -0.81 EPS for the current year.
Insider Activity
In other news, CTO Peter Hirsch sold 2,592 shares of the firm'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 value of $186,027.84. Following the completion of the sale, 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 filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Thomas Unterman sold 500 shares of the firm's stock in a transaction that occurred on Friday, July 1st. The stock was sold at an average price of $66.36, for a total transaction of $33,180.00. Following the completion of the sale, the director now directly owns 50,130 shares of the company's stock, valued at approximately $3,326,626.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CTO Peter Hirsch sold 2,592 shares of the firm'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 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 valued at $287,268 in the last ninety days. Insiders own 9.71% of the company's stock.
