Blackline (NASDAQ:BL) Releases Q3 Earnings Guidance

Blackline (NASDAQ:BL) updated its third quarter earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of $0.02-0.04 for the period, compared to the Thomson Reuters consensus estimate of $0.04. The company issued revenue guidance of $71.7-72.7 million, compared to the consensus revenue estimate of $71.04 million.Blackline also updated its FY 2019 guidance to $0.22-0.25 EPS.

Several research firms recently weighed in on BL. KeyCorp lifted their price objective on Blackline from $60.00 to $62.00 and gave the company an overweight rating in a report on Friday. Zacks Investment Research downgraded Blackline from a buy rating to a hold rating in a report on Friday, July 26th. Goldman Sachs Group downgraded shares of Blackline from a buy rating to a sell rating and reduced their target price for the stock from $57.00 to $41.00 in a report on Tuesday, July 2nd. ValuEngine downgraded shares of Blackline from a buy rating to a hold rating in a report on Wednesday. Finally, BidaskClub downgraded shares of Blackline from a hold rating to a sell rating in a report on Thursday. Two research analysts have rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the company’s stock. Blackline presently has an average rating of Hold and an average price target of $53.00.

Blackline stock traded up $13.47 during trading hours on Friday, reaching $56.01. The stock had a trading volume of 2,161,615 shares, compared to its average volume of 440,614. The company has a market capitalization of $2.34 billion, a P/E ratio of -215.42 and a beta of 0.88. The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 0.04. The stock has a 50 day moving average of $50.02. Blackline has a 52 week low of $34.01 and a 52 week high of $58.11.

Blackline (NASDAQ:BL) last announced its earnings results on Thursday, August 1st. The technology company reported ($0.05) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.09) by $0.04. The business had revenue of $69.70 million during the quarter, compared to the consensus estimate of $67.74 million. Blackline had a negative net margin of 10.20% and a negative return on equity of 4.07%. The firm’s revenue was up 25.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.01 earnings per share. On average, equities analysts anticipate that Blackline will post -0.29 earnings per share for the current fiscal year.

In other Blackline news, CFO Mark Partin sold 10,000 shares of the business’s stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $50.01, for a total value of $500,100.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders sold 29,500 shares of company stock valued at $1,510,695 over the last quarter. 15.77% of the stock is currently owned by corporate insiders.

Blackline Company Profile

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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