Blackline Inc (BL) Issues Q4 Earnings Guidance
Blackline Inc (NYSE:BL) updated its fourth quarter earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of ($0.13-0.11) for the period, compared to the Thomson Reuters consensus estimate of ($0.20). The company issued revenue guidance of $33-34 million, compared to the consensus revenue estimate of $32.40 million.
Several research firms recently weighed in on BL. Pacific Crest reissued an overweight rating on shares of Blackline in a research note on Wednesday. William Blair began coverage on shares of Blackline in a research note on Tuesday, November 22nd. They set an outperform rating on the stock. Raymond James Financial Inc. began coverage on shares of Blackline in a research note on Tuesday, November 22nd. They set an outperform rating and a $31.00 price objective on the stock. JPMorgan Chase & Co. began coverage on shares of Blackline in a research note on Tuesday, November 22nd. They set a neutral rating on the stock. Finally, Robert W. Baird began coverage on shares of Blackline in a research note on Tuesday, November 22nd. They set an outperform rating and a $33.00 price objective on the stock. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. Blackline has a consensus rating of Buy and a consensus price target of $31.67.
Blackline Inc (NYSE:BL) traded down 4.81% during trading on Wednesday, reaching $26.94. 407,168 shares of the company’s stock were exchanged. The firm’s market cap is $1.10 billion. Blackline Inc has a 12 month low of $21.66 and a 12 month high of $28.50. The firm’s 50-day moving average price is $24.93 and its 200-day moving average price is $24.93.
Blackline (NYSE:BL) last issued its earnings results on Wednesday, November 30th. The company reported ($0.05) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.03. The firm earned $32.20 million during the quarter, compared to the consensus estimate of $21.66 million. During the same quarter in the prior year, the business earned ($0.15) earnings per share. Blackline’s revenue for the quarter was up 48.7% on a year-over-year basis.
In related news, major shareholder Iconiq Strategic Partners, L.P purchased 825,000 shares of the stock in a transaction that occurred on Wednesday, November 2nd. The stock was acquired at an average cost of $17.00 per share, with a total value of $14,025,000.00. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink.
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. The Company’s platform supports accounting processes, such as the financial close, account reconciliation, intercompany accounting and controls assurance.
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