BlackLine (BL) Projected to Post Earnings on Tuesday

BlackLine (NASDAQ:BL) is expected to be announcing its earnings results after the market closes on Tuesday, February 11th. Analysts expect the company to announce earnings of $0.50 per share and revenue of $168.18 million for the quarter. Individual that are interested in participating in the company’s earnings conference call can do so using this link.

BlackLine Price Performance

Shares of BL opened at $63.60 on Tuesday. The company has a quick ratio of 2.69, a current ratio of 2.69 and a debt-to-equity ratio of 2.42. The stock has a market cap of $3.97 billion, a PE ratio of 64.90, a PEG ratio of 8.97 and a beta of 0.91. BlackLine has a 12-month low of $43.37 and a 12-month high of $69.31. The business has a 50-day simple moving average of $61.57 and a two-hundred day simple moving average of $56.07.

Analysts Set New Price Targets

A number of research analysts recently issued reports on BL shares. Bank of America upgraded shares of BlackLine from an “underperform” rating to a “buy” rating and raised their price objective for the company from $50.00 to $75.00 in a report on Thursday, January 30th. Piper Sandler downgraded BlackLine from a “neutral” rating to an “underweight” rating and set a $60.00 target price on the stock. in a report on Monday, January 6th. Citigroup raised BlackLine from a “neutral” rating to a “buy” rating and set a $73.00 price target for the company in a research note on Thursday, January 16th. JPMorgan Chase & Co. lifted their price objective on BlackLine from $47.00 to $50.00 and gave the stock an “underweight” rating in a research note on Friday, October 25th. Finally, Truist Financial increased their target price on shares of BlackLine from $55.00 to $60.00 and gave the company a “hold” rating in a research report on Monday, November 11th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, BlackLine presently has a consensus rating of “Hold” and a consensus price target of $68.10.

Insider Transactions at BlackLine

In other news, CRO Mark Woodhams sold 24,408 shares of the stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $64.32, for a total value of $1,569,922.56. Following the sale, the executive now directly owns 72,920 shares of the company’s stock, valued at approximately $4,690,214.40. This represents a 25.08 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 9.93% of the company’s stock.

BlackLine Company Profile

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.