Equities analysts expect Blackline Inc (NYSE:BL) to report $44.09 million in sales for the current quarter, according to Zacks. Six analysts have issued estimates for Blackline’s earnings. The lowest sales estimate is $43.99 million and the highest is $44.21 million. Blackline reported sales of $32.20 million during the same quarter last year, which would suggest a positive year over year growth rate of 36.9%. The company is expected to report its next earnings report on Wednesday, November 29th.

According to Zacks, analysts expect that Blackline will report full-year sales of $44.09 million for the current year, with estimates ranging from $171.50 million to $173.30 million. For the next fiscal year, analysts forecast that the business will report sales of $223.36 million per share, with estimates ranging from $215.10 million to $233.49 million. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that cover Blackline.

Blackline (NYSE:BL) last announced its quarterly earnings results on Thursday, August 3rd. The technology company reported ($0.03) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.15) by $0.12. The business had revenue of $42.30 million during the quarter, compared to analyst estimates of $41.45 million. Blackline had a negative return on equity of 13.96% and a negative net margin of 23.91%. Blackline’s quarterly revenue was up 45.9% on a year-over-year basis.

A number of research firms recently issued reports on BL. JMP Securities began coverage on Blackline in a report on Monday, June 26th. They set a “market perform” rating for the company. Zacks Investment Research downgraded Blackline from a “buy” rating to a “hold” rating in a research note on Monday, July 10th. SunTrust Banks, Inc. began coverage on Blackline in a research note on Monday, June 26th. They issued a “buy” rating and a $43.00 price target for the company. ValuEngine upgraded Blackline from a “sell” rating to a “hold” rating in a research note on Tuesday, June 20th. Finally, BidaskClub upgraded Blackline from a “hold” rating to a “buy” rating in a research note on Saturday, September 2nd. Five equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. Blackline presently has a consensus rating of “Buy” and a consensus target price of $34.78.

Shares of Blackline (NYSE:BL) opened at 32.01 on Friday. The firm’s market capitalization is $1.68 billion. The company has a 50-day moving average price of $32.72 and a 200 day moving average price of $32.44. Blackline has a 12-month low of $21.66 and a 12-month high of $40.28.

ILLEGAL ACTIVITY NOTICE: This piece of content was originally reported by American Banking News and is the sole property of of American Banking News. If you are accessing this piece of content on another site, it was illegally stolen and republished in violation of U.S. and international trademark and copyright laws. The legal version of this piece of content can be viewed at https://www.americanbankingnews.com/2017/09/08/blackline-inc-bl-expected-to-announce-quarterly-sales-of-44-09-million.html.

In other Blackline news, CEO Therese Tucker sold 20,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 23rd. The stock was sold at an average price of $29.12, for a total value of $582,400.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Mario Spanicciati sold 10,625 shares of the firm’s stock in a transaction that occurred on Tuesday, September 5th. The shares were sold at an average price of $30.45, for a total value of $323,531.25. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 169,000 shares of company stock valued at $5,643,305.

A number of hedge funds have recently bought and sold shares of the business. DF Dent & Co. Inc. lifted its position in shares of Blackline by 260.6% in the second quarter. DF Dent & Co. Inc. now owns 1,871,273 shares of the technology company’s stock valued at $66,879,000 after buying an additional 1,352,380 shares during the last quarter. Dragoneer Investment Group LLC lifted its position in shares of Blackline by 1.7% in the first quarter. Dragoneer Investment Group LLC now owns 1,234,521 shares of the technology company’s stock valued at $36,739,000 after buying an additional 20,883 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of Blackline by 56.4% in the second quarter. Vanguard Group Inc. now owns 1,209,511 shares of the technology company’s stock valued at $43,228,000 after buying an additional 436,300 shares during the last quarter. TimesSquare Capital Management LLC lifted its position in shares of Blackline by 15.9% in the first quarter. TimesSquare Capital Management LLC now owns 994,780 shares of the technology company’s stock valued at $29,605,000 after buying an additional 136,500 shares during the last quarter. Finally, Alliancebernstein L.P. acquired a new stake in shares of Blackline in the second quarter valued at approximately $31,140,000.

About Blackline

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.

Get a free copy of the Zacks research report on Blackline (BL)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Blackline Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Blackline Inc and related companies with MarketBeat.com's FREE daily email newsletter.