Blackline Inc (BL) Releases Q4 Earnings Guidance
Blackline Inc (NASDAQ:BL) issued an update on its fourth quarter earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $0.00 for the period, compared to the Thomson Reuters consensus estimate of ($0.03). The company issued revenue guidance of $47-$48 million, compared to the consensus revenue estimate of $47.14 million.Blackline also updated its FY17 guidance to ($0.10) EPS.
Blackline (NASDAQ:BL) last announced its earnings results on Thursday, August 3rd. The technology company reported ($0.03) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.15) by $0.12. Blackline had a negative net margin of 27.89% and a negative return on equity of 6.54%. The business had revenue of $42.30 million during the quarter, compared to analyst estimates of $41.45 million. Blackline’s revenue was up 45.9% on a year-over-year basis.
A number of equities research analysts have recently weighed in on the stock. Zacks Investment Research lowered shares of Blackline from a buy rating to a hold rating in a report on Monday, July 10th. BidaskClub upgraded shares of Blackline from a buy rating to a strong-buy rating in a report on Thursday, September 14th. KeyCorp restated a buy rating and issued 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 shares of Blackline and gave the stock a buy rating in a report on Sunday, October 1st. Four equities 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’s stock. The stock has a consensus rating of Buy and an average price target of $36.67.
In related news, CEO Therese Tucker sold 20,000 shares of Blackline stock in a transaction on Wednesday, August 23rd. The shares were sold at an average price of $29.12, for a total value of $582,400.00. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Mario Spanicciati sold 2,125 shares of Blackline stock in a transaction on Tuesday, August 29th. The stock was sold at an average price of $30.00, for a total transaction of $63,750.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 162,375 shares of company stock valued at $5,191,185. Company insiders own 22.35% of the company’s stock.
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Blackline Company Profile
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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