Wall Street analysts expect that Blackline Inc (NASDAQ:BL) will report $47.72 million in sales for the current fiscal quarter, Zacks Investment Research reports. Six analysts have made estimates for Blackline’s earnings, with the highest sales estimate coming in at $48.35 million and the lowest estimate coming in at $47.31 million. Blackline reported sales of $35.34 million in the same quarter last year, which indicates a positive year over year growth rate of 35%. The business is scheduled to issue its next quarterly earnings results on Thursday, February 22nd.

According to Zacks, analysts expect that Blackline will report full-year sales of $47.72 million for the current fiscal year, with estimates ranging from $174.11 million to $175.15 million. For the next financial year, analysts forecast that the firm will report sales of $223.88 million per share, with estimates ranging from $218.60 million to $228.12 million. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that follow Blackline.

Blackline (NASDAQ:BL) last released its earnings results on Thursday, November 2nd. The technology company reported ($0.01) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.19) by $0.18. Blackline had a negative return on equity of 8.00% and a negative net margin of 29.53%. The firm had revenue of $45.90 million during the quarter, compared to analysts’ expectations of $44.07 million. During the same quarter last year, the business posted ($0.05) earnings per share. The firm’s revenue was up 42.5% on a year-over-year basis.

A number of brokerages recently commented on BL. BidaskClub lowered Blackline from a “hold” rating to a “sell” rating in a research note on Thursday, December 7th. JMP Securities raised Blackline from a “market perform” rating to an “outperform” rating in a research note on Thursday, November 16th. SunTrust Banks reaffirmed a “buy” rating and issued a $42.00 price objective on shares of Blackline in a research note on Friday, November 3rd. KeyCorp reaffirmed a “buy” rating and issued a $39.00 price objective on shares of Blackline in a research note on Sunday, October 22nd. Finally, Robert W. Baird set a $42.00 price objective on Blackline and gave the company a “buy” rating in a research note on Sunday, October 1st. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, six have given a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $38.74.

Shares of Blackline (BL) traded up $0.37 during trading on Tuesday, reaching $35.04. The company had a trading volume of 469,300 shares, compared to its average volume of 241,174. Blackline has a 52 week low of $24.14 and a 52 week high of $40.28.

In other Blackline news, Director William J.G. Griffith sold 1,415,519 shares of the firm’s stock in a transaction on Thursday, December 7th. The stock was sold at an average price of $34.07, for a total transaction of $48,226,732.33. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Mario Spanicciati sold 10,625 shares of the firm’s stock in a transaction on Monday, September 25th. The stock was sold at an average price of $33.01, for a total value of $350,731.25. The disclosure for this sale can be found here. Insiders have sold a total of 4,644,375 shares of company stock valued at $158,358,885 over the last three months. 22.35% of the stock is owned by corporate insiders.

Several large investors have recently made changes to their positions in BL. Whale Rock Capital Management LLC purchased a new position in shares of Blackline in the 3rd quarter valued at $23,688,000. Conestoga Capital Advisors LLC acquired a new stake in shares of Blackline in the 3rd quarter worth $21,740,000. DF Dent & Co. Inc. boosted its position in shares of Blackline by 21.3% in the 3rd quarter. DF Dent & Co. Inc. now owns 2,270,403 shares of the technology company’s stock worth $77,466,000 after purchasing an additional 399,130 shares in the last quarter. Artisan Partners Limited Partnership acquired a new stake in shares of Blackline in the 3rd quarter worth $11,316,000. Finally, Wells Fargo & Company MN boosted its position in shares of Blackline by 61.7% in the 3rd quarter. Wells Fargo & Company MN now owns 859,886 shares of the technology company’s stock worth $29,339,000 after purchasing an additional 328,004 shares in the last quarter. Institutional investors and hedge funds own 79.28% of the company’s stock.

ILLEGAL ACTIVITY WARNING: “Blackline Inc (BL) Expected to Post Quarterly Sales of $47.72 Million” was originally reported by American Banking News and is the property of of American Banking News. If you are accessing this piece on another publication, it was illegally copied and republished in violation of U.S. & international trademark and copyright laws. The original version of this piece can be viewed at https://www.americanbankingnews.com/2017/12/12/blackline-inc-bl-expected-to-post-quarterly-sales-of-47-72-million.html.

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