BlackLine (NASDAQ:BL – Get Rating) is set to post its quarterly earnings results after the market closes on Thursday, May 4th. Analysts expect BlackLine to post earnings of $0.16 per share for the quarter. Individual that wish to register for the company’s earnings conference call can do so using this link.
BlackLine (NASDAQ:BL – Get Rating) last released its quarterly earnings data on Tuesday, February 14th. The technology company reported $0.10 earnings per share for the quarter, beating the consensus estimate of ($0.12) by $0.22. BlackLine had a negative return on equity of 35.01% and a negative net margin of 5.62%. The company had revenue of $139.96 million for the quarter, compared to analyst estimates of $139.17 million. On average, analysts expect BlackLine to post $0 EPS for the current fiscal year and $0 EPS for the next fiscal year.
BlackLine Trading Down 0.8 %
BL stock opened at $55.04 on Thursday. BlackLine has a 1-year low of $48.73 and a 1-year high of $79.23. The firm has a market cap of $3.31 billion, a P/E ratio of -107.92 and a beta of 0.88. The business’s 50 day moving average is $64.87 and its 200-day moving average is $65.06. The company has a current ratio of 3.40, a quick ratio of 3.40 and a debt-to-equity ratio of 12.38.
Analyst Upgrades and Downgrades
Several equities research analysts have recently weighed in on the company. Truist Financial upped their price objective on BlackLine from $55.00 to $65.00 and gave the company a “hold” rating in a research note on Wednesday, February 15th. Robert W. Baird increased their price target on BlackLine from $72.00 to $82.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 15th. Piper Sandler restated a “neutral” rating and set a $64.00 price target on shares of BlackLine in a research report on Monday, March 6th. BMO Capital Markets decreased their price target on BlackLine from $76.00 to $71.00 and set a “market perform” rating on the stock in a research report on Wednesday, February 15th. Finally, StockNews.com began coverage on BlackLine in a research report on Thursday, March 16th. They set a “hold” rating on the stock. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $70.67.
Insider Buying and Selling at BlackLine
In other news, CEO Marc Huffman sold 19,650 shares of the stock in a transaction on Tuesday, February 21st. The stock was sold at an average price of $70.85, for a total value of $1,392,202.50. Following the transaction, the chief executive officer now owns 304,516 shares of the company’s stock, valued at approximately $21,574,958.60. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, CEO Marc Huffman sold 19,650 shares of the stock in a transaction on Tuesday, February 21st. The stock was sold at an average price of $70.85, for a total value of $1,392,202.50. Following the transaction, the chief executive officer now owns 304,516 shares of the company’s stock, valued at approximately $21,574,958.60. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CTO Peter Hirsch sold 2,046 shares of the stock in a transaction on Thursday, February 23rd. The shares were sold at an average price of $71.92, for a total value of $147,148.32. Following the completion of the transaction, the chief technology officer now directly owns 41,361 shares in the company, valued at approximately $2,974,683.12. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 72,025 shares of company stock worth $5,014,221. Insiders own 9.93% of the company’s stock.
Institutional Trading of BlackLine
Hedge funds have recently added to or reduced their stakes in the business. Advisors Asset Management Inc. raised its stake in BlackLine by 43.1% during the 1st quarter. Advisors Asset Management Inc. now owns 1,950 shares of the technology company’s stock worth $143,000 after buying an additional 587 shares during the period. Mackenzie Financial Corp raised its stake in BlackLine by 12.1% during the 1st quarter. Mackenzie Financial Corp now owns 3,069 shares of the technology company’s stock worth $225,000 after buying an additional 331 shares during the period. Captrust Financial Advisors raised its stake in BlackLine by 20.8% during the 1st quarter. Captrust Financial Advisors now owns 3,687 shares of the technology company’s stock worth $270,000 after buying an additional 636 shares during the period. Cetera Investment Advisers acquired a new stake in BlackLine during the 4th quarter worth $287,000. Finally, Atria Wealth Solutions Inc. acquired a new stake in BlackLine during the 1st quarter worth $319,000. Institutional investors and hedge funds own 99.96% of the company’s stock.
About BlackLine
BlackLine, Inc operates a cloud-based software platform which is designed to transform accounting and finance operations for organizations of all types and sizes. Its scalable platform supports critical accounting processes such as the financial close, account reconciliations, intercompany accounting, and controls assurance.