Blackline Inc (BL) Issues Earnings Results
Blackline Inc (NASDAQ:BL) issued its quarterly earnings data on Thursday. The technology company reported ($0.01) EPS for the quarter, topping analysts’ consensus estimates of ($0.19) by $0.18, Bloomberg Earnings reports. The firm had revenue of $45.90 million during the quarter, compared to analyst estimates of $44.07 million. Blackline had a negative return on equity of 6.54% and a negative net margin of 27.89%. The company’s revenue for the quarter was up 42.5% on a year-over-year basis. During the same period in the previous year, the company posted ($0.05) EPS. Blackline updated its Q4 guidance to $0.00 EPS and its FY17 guidance to ($0.10) EPS.
BL has been the subject of a number of recent research reports. Zacks Investment Research lowered Blackline from a “buy” rating to a “hold” rating in a report on Monday, July 10th. BidaskClub raised Blackline from a “buy” rating to a “strong-buy” rating in a report on Thursday, September 14th. KeyCorp reissued a “buy” rating and set a $39.00 price objective on shares of Blackline in a report on Sunday, October 22nd. Finally, Robert W. Baird set a $42.00 price objective on Blackline and gave the stock a “buy” rating in a report on Sunday, October 1st. Four research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $36.67.
In other Blackline news, insider Mario Spanicciati sold 10,625 shares of Blackline stock in a transaction that occurred on Monday, August 14th. The shares were sold at an average price of $29.88, for a total value of $317,475.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Therese Tucker sold 20,000 shares of Blackline stock in a transaction that occurred on Wednesday, August 23rd. The stock was sold at an average price of $29.12, for a total transaction of $582,400.00. The disclosure for this sale can be found here. Insiders have sold 162,375 shares of company stock valued at $5,191,185 in the last three months. 22.35% of the stock is owned by insiders.
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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