BlackLine (BL) Projected to Post Earnings on Tuesday

BlackLine (NASDAQ:BL) is anticipated to release its earnings data after the market closes on Tuesday, February 11th. Analysts expect BlackLine to post earnings of $0.50 per share and revenue of $168.37 million for the quarter. Investors that wish to register for the company’s conference call can do so using this link.

BlackLine Trading Down 0.8 %

BL opened at $64.63 on Monday. The company has a debt-to-equity ratio of 2.42, a quick ratio of 2.69 and a current ratio of 2.69. The stock’s 50 day moving average price is $61.80 and its 200-day moving average price is $56.58. BlackLine has a one year low of $43.37 and a one year high of $69.31. The stock has a market cap of $4.04 billion, a price-to-earnings ratio of 65.95, a P/E/G ratio of 9.14 and a beta of 0.92.

Insider Buying and Selling at BlackLine

In other news, CRO Mark Woodhams sold 24,408 shares of the firm’s stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $64.32, for a total value of $1,569,922.56. Following the transaction, the executive now owns 72,920 shares in the company, valued at $4,690,214.40. This trade represents a 25.08 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 9.93% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. StockNews.com downgraded BlackLine from a “buy” rating to a “hold” rating in a report on Tuesday, February 4th. Bank of America upgraded shares of BlackLine from an “underperform” rating to a “buy” rating and boosted their price target for the company from $50.00 to $75.00 in a report on Thursday, January 30th. JPMorgan Chase & Co. increased their price objective on shares of BlackLine from $47.00 to $50.00 and gave the company an “underweight” rating in a research note on Friday, October 25th. Truist Financial boosted their price objective on shares of BlackLine from $55.00 to $60.00 and gave the stock a “hold” rating in a research note on Monday, November 11th. Finally, Citigroup raised BlackLine from a “neutral” rating to a “buy” rating and set a $73.00 target price on the stock in a research report on Thursday, January 16th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus 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.