BlackLine (NASDAQ:BL – Get Rating) issued its quarterly earnings results on Thursday. The technology company reported $0.07 earnings per share for the quarter, topping analysts’ consensus estimates of $0.01 by $0.06, Briefing.com reports. BlackLine had a negative return on equity of 18.32% and a negative net margin of 15.09%. The firm had revenue of $128.48 million for the quarter, compared to analysts’ expectations of $126.54 million. During the same quarter last year, the business posted ($0.08) EPS. BlackLine’s revenue was up 25.8% on a year-over-year basis.
BlackLine Stock Performance
BL traded down $0.35 on Friday, hitting $67.27. The company had a trading volume of 668,940 shares, compared to its average volume of 642,659. The company’s fifty day moving average price is $69.20 and its 200 day moving average price is $71.70. BlackLine has a 1-year low of $49.66 and a 1-year high of $135.00. The company has a debt-to-equity ratio of 20.88, a current ratio of 3.45 and a quick ratio of 3.45. The stock has a market cap of $3.99 billion, a price-to-earnings ratio of -55.59 and a beta of 0.84.
Insider Buying and Selling
In related news, Director Thomas Unterman sold 500 shares of the business’s stock in a transaction that occurred on Monday, August 1st. The stock was sold at an average price of $62.42, for a total value of $31,210.00. Following the completion of the sale, the director now directly owns 50,589 shares in the company, valued at approximately $3,157,765.38. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, CTO Peter Hirsch sold 2,592 shares of the company’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 transaction of $186,027.84. Following the completion of the transaction, the chief technology officer now directly owns 38,391 shares in the company, valued at $2,755,322.07. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Thomas Unterman sold 500 shares of the company’s stock in a transaction that occurred on Monday, August 1st. The stock was sold at an average price of $62.42, for a total value of $31,210.00. Following the transaction, the director now owns 50,589 shares of the company’s stock, valued at $3,157,765.38. The disclosure for this sale can be found here. In the last ninety days, insiders sold 4,092 shares of company stock worth $287,268. 9.71% of the stock is currently owned by insiders.
Institutional Inflows and Outflows
Analyst Upgrades and Downgrades
Several equities analysts have weighed in on the company. Robert W. Baird lowered their target price on BlackLine from $105.00 to $95.00 in a research note on Friday, May 6th. JPMorgan Chase & Co. lowered their target price on BlackLine from $75.00 to $70.00 in a research note on Friday, May 6th. BTIG Research lowered their target price on BlackLine from $115.00 to $95.00 in a research note on Friday, May 6th. Bank of America cut BlackLine from a “neutral” rating to an “underperform” rating and lowered their target price for the company from $75.00 to $64.00 in a research note on Monday, July 18th. They noted that the move was a valuation call. Finally, StockNews.com lowered BlackLine from a “hold” rating to a “sell” rating in a report on Monday, May 23rd. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $96.89.
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.
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