Wall Street brokerages predict that Blackline Inc (NASDAQ:BL) will post $61.74 million in sales for the current fiscal quarter, according to Zacks. Seven analysts have made estimates for Blackline’s earnings. The lowest sales estimate is $61.50 million and the highest is $62.01 million. Blackline posted sales of $50.23 million in the same quarter last year, which would indicate a positive year over year growth rate of 22.9%. The firm is scheduled to announce its next quarterly earnings results on Thursday, February 21st.
According to Zacks, analysts expect that Blackline will report full-year sales of $227.22 million for the current year, with estimates ranging from $227.00 million to $227.48 million. For the next year, analysts forecast that the company will post sales of $281.04 million, with estimates ranging from $274.40 million to $290.20 million. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that that provide coverage for Blackline.
Blackline (NASDAQ:BL) last posted its quarterly earnings data on Thursday, November 1st. The technology company reported $0.07 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.08) by $0.15. The firm had revenue of $58.70 million during the quarter, compared to analyst estimates of $57.64 million. Blackline had a negative net margin of 12.02% and a negative return on equity of 3.62%. The company’s revenue for the quarter was up 29.3% on a year-over-year basis. During the same quarter last year, the business posted ($0.01) EPS.
A number of research analysts have recently weighed in on the stock. BidaskClub downgraded shares of Blackline from a “buy” rating to a “hold” rating in a research report on Wednesday. Robert W. Baird reduced their target price on shares of Blackline from $60.00 to $55.00 and set an “outperform” rating for the company in a research report on Friday, November 2nd. CIBC assumed coverage on shares of Blackline in a research report on Friday, October 19th. They set a “market perform” rating for the company. Oppenheimer assumed coverage on shares of Blackline in a research report on Friday, October 19th. They set a “market perform” rating for the company. Finally, Zacks Investment Research raised shares of Blackline from a “sell” rating to a “hold” rating in a research report on Wednesday, October 3rd. One research analyst has rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $47.00.
NASDAQ:BL opened at $42.12 on Friday. Blackline has a 52 week low of $31.53 and a 52 week high of $58.11.
In other news, CEO Therese Tucker sold 17,010 shares of the stock in a transaction that occurred on Monday, August 13th. The shares were sold at an average price of $47.59, for a total transaction of $809,505.90. Following the completion of the transaction, the chief executive officer now directly owns 63,672 shares of the company’s stock, valued at approximately $3,030,150.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have sold a total of 56,954 shares of company stock valued at $2,691,632 over the last three months. Insiders own 18.60% of the company’s stock.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Rhumbline Advisers boosted its holdings in Blackline by 21.0% in the 2nd quarter. Rhumbline Advisers now owns 31,127 shares of the technology company’s stock worth $1,352,000 after buying an additional 5,403 shares during the period. Schwab Charles Investment Management Inc. boosted its holdings in Blackline by 16.3% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 189,417 shares of the technology company’s stock worth $8,227,000 after buying an additional 26,504 shares during the period. Great West Life Assurance Co. Can boosted its holdings in Blackline by 129.4% in the 2nd quarter. Great West Life Assurance Co. Can now owns 3,211 shares of the technology company’s stock worth $139,000 after buying an additional 1,811 shares during the period. BlackRock Inc. boosted its holdings in Blackline by 28.3% in the 2nd quarter. BlackRock Inc. now owns 2,313,609 shares of the technology company’s stock worth $100,480,000 after buying an additional 510,750 shares during the period. Finally, Wells Fargo & Company MN boosted its holdings in Blackline by 16.2% in the 2nd quarter. Wells Fargo & Company MN now owns 1,001,067 shares of the technology company’s stock worth $43,477,000 after buying an additional 139,885 shares during the period. 83.57% of the stock is owned by institutional investors.
BlackLine, Inc provides financial accounting close solutions delivered as a Software as a Service in the United States and internationally. Its solutions enables its customers to address various aspects of their financial closing process, including account reconciliations, variance analysis of account balances, and journal entry capabilities, as well as a range of data matching capabilities.
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