$63.32 Million in Sales Expected for Blackline Inc (BL) This Quarter

Analysts predict that Blackline Inc (NASDAQ:BL) will report sales of $63.32 million for the current fiscal quarter, Zacks reports. Six analysts have made estimates for Blackline’s earnings, with the lowest sales estimate coming in at $62.80 million and the highest estimate coming in at $63.54 million. Blackline reported sales of $51.28 million during the same quarter last year, which indicates a positive year over year growth rate of 23.5%. The firm is scheduled to issue its next earnings results after the market closes on Thursday, May 2nd.

On average, analysts expect that Blackline will report full-year sales of $277.60 million for the current year, with estimates ranging from $275.42 million to $278.25 million. For the next year, analysts forecast that the business will post sales of $338.21 million, with estimates ranging from $332.50 million to $342.61 million. Zacks’ sales calculations are an average based on a survey of sell-side analysts that that provide coverage for Blackline.

Blackline (NASDAQ:BL) last announced its earnings results on Thursday, February 14th. 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 12.21% and a negative return on equity of 4.52%. The business had revenue of $62.32 million for the quarter, compared to the consensus estimate of $61.65 million. During the same quarter in the prior year, the firm posted $0.06 earnings per share. The business’s revenue for the quarter was up 24.6% on a year-over-year basis.

Several research analysts recently commented on BL shares. Raymond James downgraded shares of Blackline from an “outperform” rating to a “market perform” rating in a research note on Tuesday, January 22nd. They noted that the move was a valuation call. Goldman Sachs Group reaffirmed a “buy” rating and set a $53.00 target price on shares of Blackline in a report on Friday, February 1st. BidaskClub raised shares of Blackline from a “buy” rating to a “strong-buy” rating in a report on Tuesday, February 5th. KeyCorp reaffirmed a “buy” rating and set a $56.00 target price on shares of Blackline in a report on Thursday, February 14th. Finally, Zacks Investment Research lowered shares of Blackline from a “buy” rating to a “hold” rating in a report on Wednesday, April 17th. Four analysts have rated the stock with a hold rating and five have given a buy rating to the company. Blackline has an average rating of “Buy” and a consensus price target of $54.50.

In related news, CEO Therese Tucker sold 500,000 shares of Blackline stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $48.16, for a total value of $24,080,000.00. Following the sale, the chief executive officer now owns 63,672 shares of the company’s stock, valued at approximately $3,066,443.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Mario Spanicciati sold 400,000 shares of Blackline stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $48.16, for a total transaction of $19,264,000.00. Following the completion of the sale, the insider now directly owns 11,812 shares in the company, valued at approximately $568,865.92. The disclosure for this sale can be found here. 15.77% of the stock is currently owned by company insiders.

A number of institutional investors have recently added to or reduced their stakes in BL. Rehmann Capital Advisory Group acquired a new stake in Blackline during the 3rd quarter worth $63,000. Bronfman E.L. Rothschild L.P. boosted its stake in Blackline by 73.1% during the 4th quarter. Bronfman E.L. Rothschild L.P. now owns 1,156 shares of the technology company’s stock worth $47,000 after purchasing an additional 488 shares during the last quarter. Parkside Financial Bank & Trust boosted its stake in Blackline by 82.6% during the 4th quarter. Parkside Financial Bank & Trust now owns 1,528 shares of the technology company’s stock worth $63,000 after purchasing an additional 691 shares during the last quarter. Advisor Group Inc. boosted its stake in Blackline by 86.8% during the 4th quarter. Advisor Group Inc. now owns 2,950 shares of the technology company’s stock worth $121,000 after purchasing an additional 1,371 shares during the last quarter. Finally, We Are One Seven LLC acquired a new stake in Blackline during the 4th quarter worth $131,000. 85.80% of the stock is currently owned by hedge funds and other institutional investors.

BL stock opened at $47.50 on Friday. The stock has a market capitalization of $2.61 billion, a P/E ratio of -182.69 and a beta of 1.02. Blackline has a 12 month low of $34.01 and a 12 month high of $58.11.

About Blackline

BlackLine, Inc provides financial accounting close solutions delivered primarily as Software as a Service in the United States and internationally. Its solutions enable its customers to address various aspects of their financial closing process, including account reconciliations, variance analysis of account balances, journal entry capabilities, and range of data matching capabilities.

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