BlackLine (NASDAQ:BL) Posts Quarterly Earnings Results, Misses Estimates By $0.29 EPS

BlackLine (NASDAQ:BL) released its quarterly earnings data on Tuesday. The technology company reported $0.21 earnings per share for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.29), Zacks reports. BlackLine had a return on equity of 31.02% and a net margin of 19.83%.

BlackLine Trading Down 1.6 %

BL traded down $1.01 on Tuesday, reaching $63.40. 741,740 shares of the company traded hands, compared to its average volume of 561,002. The company has a market cap of $3.96 billion, a P/E ratio of 64.69, a price-to-earnings-growth ratio of 9.14 and a beta of 0.92. The company has a quick ratio of 2.69, a current ratio of 2.69 and a debt-to-equity ratio of 2.42. BlackLine has a one year low of $43.37 and a one year high of $69.31. The firm has a fifty day simple moving average of $61.84 and a two-hundred day simple moving average of $56.69.

Insider Transactions at BlackLine

In other news, CRO Mark Woodhams sold 24,408 shares of the stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $64.32, for a total transaction of $1,569,922.56. Following the transaction, the executive now directly owns 72,920 shares in the company, valued at approximately $4,690,214.40. This trade represents a 25.08 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 9.93% of the company’s stock.

Analysts Set New Price Targets

BL has been the topic of a number of research reports. Morgan Stanley lifted their price objective on BlackLine from $70.00 to $80.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. JPMorgan Chase & Co. boosted their price target on shares of BlackLine from $47.00 to $50.00 and gave the stock an “underweight” rating in a research report on Friday, October 25th. Bank of America raised shares of BlackLine from an “underperform” rating to a “buy” rating and upped their price target for the company from $50.00 to $75.00 in a research note on Thursday, January 30th. Truist Financial boosted their target price on shares of BlackLine from $55.00 to $60.00 and gave the stock a “hold” rating in a report on Monday, November 11th. Finally, Piper Sandler downgraded shares of BlackLine from a “neutral” rating to an “underweight” rating and set a $60.00 price target for the company. in a report on Monday, January 6th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $68.10.

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.