BlackLine (BL) Earnings Announcement Scheduled for November 7

BlackLine (NASDAQ:BL) is set to release its quarterly earnings results after the market closes on Thursday, November 7. Analysts anticipate that the company will report earnings of $0.52 per share for the quarter. Investors who wish to participate in the conference call can register using this link.

Recent Earnings Performance

Previously, BlackLine announced its quarterly earnings on Tuesday, August 6. The technology firm reported earnings of $0.58 per share, exceeding analysts' expectations of $0.50. The company generated revenue of $160.51 million, surpassing the analysts' forecast of $158.21 million. BlackLine's return on equity was 33.96%, and it recorded a net margin of 19.46%, showing an 11.0% year-over-year increase in revenue. In the same period last year, the firm had an earnings loss of ($0.69) per share. Currently, analysts project BlackLine will achieve $1 in earnings per share for both the current and next fiscal years.

Stock Performance Overview

As of Thursday, NASDAQ:BL opened at $56.13. The company has a debt-to-equity ratio of 2.74, a quick ratio of 1.95, and a current ratio of 1.95. BlackLine's stock has ranged between a fifty-two week low of $43.37 and a high of $69.31. With a market capitalization of $3.47 billion, it has a price-to-earnings (PE) ratio of 244.04, a price-to-earnings-growth ratio of 13.57, and a beta value of 0.90. The company's 50-day moving average price stands at $52.78, while its 200-day moving average is $51.71.

Broker Analyst Ratings

Several brokers have recently provided reports on BlackLine's stock. Robert W. Baird lowered their price target from $72.00 to $65.00, maintaining an "outperform" rating. Piper Sandler also decreased their target from $55.00 to $51.00, giving the stock a "neutral" rating. Truist Financial cut their price objective from $60.00 to $45.00 and assigned a "hold" rating. Conversely, JMP Securities retained a "market outperform" rating and set a heightened target price of $81.00. BTIG Research also lowered their target from $71.00 to $65.00, while two analysts rated the stock with a sell, six assigned a hold, and four issued a buy rating. The consensus rating is currently "Hold" with a consensus price target of $60.20.

Insider Transactions

In other news, insider Karole Morgan-Prager sold 10,000 shares of BlackLine on Wednesday, August 7, at an average price of $50.00, bringing in a total of $500,000. This sale did not affect her overall ownership stake, as she still owns 115,424 shares valued at approximately $5,771,200. Additionally, CFO Mark Partin sold 85,308 shares at an average price of $54.84, totaling $4,678,290.72. Following this transaction, Partin owns approximately 226,844 shares valued at around $12,440,124.96. In the last quarter, insiders sold a total of 150,873 shares worth $8,340,243, with corporate insiders holding 9.93% of the company’s stock.

About BlackLine, Inc

BlackLine, Inc offers cloud-based solutions designed to automate and enhance accounting and finance operations globally. Their offerings include financial close management solutions such as account reconciliations, transaction matching, task management, and financial reporting analytics, which support users in collaborating on and managing their financial data more effectively.

Earnings, Investors, Stock