BlackLine (BL) Scheduled to Post Earnings on Thursday

BlackLine (NASDAQ:BL - Get Free Report) is set to post its quarterly earnings results after the market closes on Thursday, November 7th. Analysts expect BlackLine to post earnings of $0.52 per share for the quarter. Investors that are interested in participating in the company's conference call can do so using this link.

BlackLine (NASDAQ:BL - Get Free Report) last released its quarterly earnings results on Tuesday, August 6th. The technology company reported $0.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.50 by $0.08. BlackLine had a net margin of 19.46% and a return on equity of 33.96%. The business had revenue of $160.51 million for the quarter, compared to analyst estimates of $158.21 million. During the same period in the previous year, the company earned ($0.69) earnings per share. The business's revenue for the quarter was up 11.0% on a year-over-year basis. On average, analysts expect BlackLine to post $1 EPS for the current fiscal year and $1 EPS for the next fiscal year.

BlackLine Stock Down 1.4 %

Shares of BL traded down $0.76 during midday trading on Thursday, hitting $55.37. 546,243 shares of the company's stock traded hands, compared to its average volume of 889,995. BlackLine has a 1 year low of $43.37 and a 1 year high of $69.31. The firm's fifty day moving average is $52.88 and its 200-day moving average is $51.75. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 2.74. The stock has a market capitalization of $3.42 billion, a price-to-earnings ratio of 244.52, a price-to-earnings-growth ratio of 13.57 and a beta of 0.90.

Insiders Place Their Bets

In other news, insider Karole Morgan-Prager sold 10,000 shares of the company's stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $50.00, for a total value of $500,000.00. Following the completion of the sale, the insider now directly owns 115,424 shares in the company, valued at $5,771,200. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, Director Barbara Whye sold 5,378 shares of the stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $52.01, for a total value of $279,709.78. Following the completion of the sale, the director now owns 6,777 shares of the company's stock, valued at $352,471.77. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Karole Morgan-Prager sold 10,000 shares of BlackLine stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $50.00, for a total transaction of $500,000.00. Following the sale, the insider now directly owns 115,424 shares in the company, valued at approximately $5,771,200. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 150,873 shares of company stock valued at $8,340,243 in the last 90 days. 9.93% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on BL shares. Morgan Stanley raised shares of BlackLine from an "equal weight" rating to an "overweight" rating and raised their price target for the stock from $60.00 to $70.00 in a research report on Monday, September 30th. BTIG Research reduced their target price on shares of BlackLine from $71.00 to $65.00 and set a "buy" rating for the company in a report on Wednesday, August 7th. JPMorgan Chase & Co. upped their price target on shares of BlackLine from $47.00 to $50.00 and gave the company an "underweight" rating in a report on Friday, October 25th. Robert W. Baird reduced their price objective on BlackLine from $72.00 to $65.00 and set an "outperform" rating for the company in a research note on Wednesday, August 7th. Finally, JMP Securities reissued a "market outperform" rating and issued a $81.00 price objective on shares of BlackLine in a report on Monday, July 15th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Hold" and an average price target of $61.20.

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.