BlackLine (BL) to Release Quarterly Earnings on Tuesday

BlackLine (NASDAQ:BL) will issue its quarterly earnings data after the market closes on Tuesday, August 6th. Analysts expect the company to announce earnings of $0.50 per share for the quarter. BlackLine has set its Q2 guidance at $0.49-0.51 EPS and its FY24 guidance at $2.12-2.26 EPS.Individual interested in listening to the company’s earnings conference call can do so using this link.

BlackLine (NASDAQ:BL) last posted its quarterly earnings results on Tuesday, May 7th. The technology company reported $0.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.22 by $0.10. The business had revenue of $157.46 million for the quarter, compared to analysts’ expectations of $155.05 million. BlackLine had a return on equity of 9.07% and a net margin of 2.30%. On average, analysts expect BlackLine to post $1 EPS for the current fiscal year and $1 EPS for the next fiscal year.

BlackLine Trading Up 0.0 %

BlackLine stock traded up $0.01 during mid-day trading on Tuesday, hitting $47.53. The stock had a trading volume of 111,887 shares, compared to its average volume of 967,869. The stock has a 50-day simple moving average of $47.53 and a two-hundred day simple moving average of $56.20. The stock has a market capitalization of $2.94 billion, a PE ratio of 206.61, a P/E/G ratio of 5.51 and a beta of 0.86. BlackLine has a 12 month low of $43.79 and a 12 month high of $69.31. The company has a current ratio of 2.30, a quick ratio of 2.30 and a debt-to-equity ratio of 4.08.

Insider Transactions at BlackLine

In other BlackLine news, CEO Owen Ryan purchased 3,000 shares of the company’s stock in a transaction dated Friday, May 24th. The shares were bought at an average price of $49.88 per share, with a total value of $149,640.00. Following the completion of the transaction, the chief executive officer now directly owns 145,948 shares in the company, valued at approximately $7,279,886.24. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CFO Mark Partin sold 50,000 shares of BlackLine stock in a transaction that occurred on Tuesday, June 4th. The stock was sold at an average price of $47.38, for a total value of $2,369,000.00. Following the sale, the chief financial officer now owns 229,341 shares of the company’s stock, valued at approximately $10,866,176.58. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Owen Ryan bought 3,000 shares of the company’s stock in a transaction that occurred on Friday, May 24th. The stock was purchased at an average cost of $49.88 per share, for a total transaction of $149,640.00. Following the transaction, the chief executive officer now owns 145,948 shares in the company, valued at approximately $7,279,886.24. The disclosure for this purchase can be found here. 9.93% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Robert W. Baird raised their price target on BlackLine from $61.00 to $72.00 and gave the company an “outperform” rating in a report on Wednesday, May 8th. Citigroup decreased their price target on BlackLine from $62.00 to $54.00 and set a “neutral” rating on the stock in a report on Friday, June 28th. BMO Capital Markets raised their price target on BlackLine from $65.00 to $67.00 and gave the company a “market perform” rating in a report on Wednesday, May 8th. William Blair upgraded BlackLine to a “hold” rating in a report on Tuesday, May 7th. Finally, Piper Sandler reduced their target price on BlackLine from $62.00 to $55.00 and set a “neutral” rating on the stock in a report on Friday, July 12th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $62.78.

BlackLine Company Profile

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 individual transactions; task management to create and manage processes and task lists; and financial reporting analytics that enables analysis and validation of financial data.