$41.36 Million in Sales Expected for Blackline Inc (BL) This Quarter
Equities analysts predict that Blackline Inc (NYSE:BL) will announce $41.36 million in sales for the current quarter, according to Zacks Investment Research. Six analysts have provided estimates for Blackline’s earnings, with the lowest sales estimate coming in at $41.00 million and the highest estimate coming in at $41.60 million. The business is scheduled to announce its next earnings report on Thursday, August 3rd.
On average, analysts expect that Blackline will report full year sales of $41.36 million for the current financial year, with estimates ranging from $171.00 million to $172.36 million. For the next fiscal year, analysts anticipate that the company will post sales of $221.52 million per share, with estimates ranging from $215.10 million to $224.43 million. Zacks’ sales calculations are an average based on a survey of sell-side research analysts that cover Blackline.
A number of research firms have weighed in on BL. Vetr lowered Blackline from a “strong-buy” rating to a “buy” rating and set a $35.26 target price for the company. in a report on Tuesday, April 18th. JMP Securities began coverage on Blackline in a report on Monday, June 26th. They set a “market perform” rating for the company. SunTrust Banks, Inc. began coverage on Blackline in a report on Monday, June 26th. They set a “buy” rating and a $43.00 target price for the company. William Blair restated an “outperform” rating on shares of Blackline in a report on Monday, May 8th. Finally, Zacks Investment Research upgraded Blackline from a “hold” rating to a “buy” rating and set a $39.00 target price for the company in a report on Friday, May 26th. Four analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. Blackline currently has an average rating of “Buy” and a consensus target price of $35.62.
Blackline (NYSE BL) opened at 36.44 on Friday. The stock’s market cap is $1.87 billion. The stock has a 50 day moving average price of $34.23 and a 200-day moving average price of $30.14. Blackline has a 1-year low of $21.66 and a 1-year high of $38.83.
In other news, insider Mario Spanicciati sold 5,000 shares of the stock in a transaction on Friday, June 2nd. The stock was sold at an average price of $35.20, for a total transaction of $176,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In the last quarter, insiders have sold 122,750 shares of company stock valued at $4,159,023.
Hedge funds have recently modified their holdings of the stock. State Street Corp acquired a new stake in shares of Blackline during the fourth quarter valued at approximately $2,968,000. Franklin Resources Inc. acquired a new stake in shares of Blackline during the fourth quarter valued at approximately $5,532,000. Metropolitan Life Insurance Co. NY acquired a new stake in shares of Blackline during the fourth quarter valued at approximately $323,000. Norges Bank acquired a new stake in shares of Blackline during the fourth quarter valued at approximately $1,105,000. Finally, Teachers Advisors LLC acquired a new stake in shares of Blackline during the fourth quarter valued at approximately $310,000.
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BlackLine, Inc is a holding company. The Company provides cloud-based software platform that is designed to automate and streamline accounting and finance operations. Its platform supports accounting processes, such as the financial close, account reconciliation, intercompany accounting and controls assurance.
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