Wall Street analysts expect Blackline Inc (NASDAQ:BL) to post sales of $49.72 million for the current quarter, Zacks Investment Research reports. Five analysts have issued estimates for Blackline’s earnings. The highest sales estimate is $50.34 million and the lowest is $48.20 million. Blackline posted sales of $38.63 million during the same quarter last year, which would suggest a positive year over year growth rate of 28.7%. The firm is expected to announce its next earnings report on Thursday, May 3rd.
On average, analysts expect that Blackline will report full-year sales of $49.72 million for the current fiscal year, with estimates ranging from $218.60 million to $228.12 million. For the next financial year, analysts expect that the company will post sales of $285.91 million per share, with estimates ranging from $275.72 million to $297.60 million. Zacks Investment Research’s sales averages are an average based on a survey of research firms that cover Blackline.
Blackline (NASDAQ:BL) last posted its earnings results on Thursday, February 15th. The technology company reported $0.03 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.09) by $0.12. Blackline had a negative net margin of 21.50% and a negative return on equity of 6.55%. The firm had revenue of $50.23 million during the quarter, compared to the consensus estimate of $47.69 million. During the same period last year, the firm posted ($0.08) EPS. The firm’s revenue for the quarter was up 42.1% on a year-over-year basis.
Several research firms have weighed in on BL. Robert W. Baird restated a “buy” rating on shares of Blackline in a report on Friday. KeyCorp reiterated a “buy” rating and set a $46.00 price target on shares of Blackline in a report on Thursday, February 15th. BidaskClub upgraded shares of Blackline from a “strong sell” rating to a “sell” rating in a report on Wednesday, February 7th. JPMorgan Chase & Co. downgraded shares of Blackline from a “neutral” rating to an “underweight” rating and set a $27.00 price target for the company. in a report on Thursday, January 25th. Finally, JMP Securities upgraded shares of Blackline from a “market perform” rating to an “outperform” rating in a report on Thursday, November 16th. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $37.95.
Blackline (BL) traded up $4.39 during trading hours on Friday, reaching $39.04. 1,448,400 shares of the company’s stock traded hands, compared to its average volume of 380,103. Blackline has a 52-week low of $26.72 and a 52-week high of $41.38. The stock has a market cap of $2,060.00 and a P/E ratio of -53.48.
In related news, Director William J.G. Griffith sold 1,415,519 shares of the firm’s stock in a transaction that occurred on Thursday, December 7th. The shares were sold at an average price of $34.07, for a total value of $48,226,732.33. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Mario Spanicciati sold 12,750 shares of the firm’s stock in a transaction that occurred on Monday, December 4th. The stock was sold at an average price of $35.87, for a total transaction of $457,342.50. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 4,525,500 shares of company stock valued at $154,259,010. Insiders own 22.35% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Whale Rock Capital Management LLC acquired a new position in Blackline during the third quarter valued at approximately $23,688,000. Conestoga Capital Advisors LLC purchased a new stake in shares of Blackline during the third quarter valued at approximately $21,740,000. DF Dent & Co. Inc. raised its stake in shares of Blackline by 21.3% during the third quarter. DF Dent & Co. Inc. now owns 2,270,403 shares of the technology company’s stock valued at $77,466,000 after purchasing an additional 399,130 shares during the period. Keenan Capital LLC purchased a new stake in shares of Blackline during the fourth quarter valued at approximately $12,464,000. Finally, Artisan Partners Limited Partnership purchased a new stake in shares of Blackline during the third quarter valued at approximately $11,316,000. 86.07% of the stock is currently owned by institutional investors and hedge funds.
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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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