Blackline Inc (BL) Issues Q4 Earnings Guidance
Blackline Inc (NYSE:BL) updated its fourth quarter earnings guidance on Wednesday. The company provided EPS guidance of ($0.13-0.11) for the period, compared to the Thomson Reuters consensus EPS estimate of ($0.20). The company issued revenue guidance of $33-34 million, compared to the consensus revenue estimate of $32.40 million.
Blackline Inc (NYSE:BL) opened at 26.94 on Thursday. Blackline Inc has a 1-year low of $21.66 and a 1-year high of $28.50. The company’s 50-day moving average price is $24.93 and its 200-day moving average price is $24.93. The stock’s market cap is $1.10 billion.
Blackline (NYSE:BL) last posted its quarterly earnings results on Wednesday, November 30th. The company reported ($0.05) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.08) by $0.03. The firm had revenue of $32.20 million for the quarter, compared to analysts’ expectations of $21.66 million. During the same period last year, the firm posted ($0.15) EPS. Blackline’s revenue was up 48.7% on a year-over-year basis.
Several equities research analysts have recently weighed in on the company. Goldman Sachs Group Inc. assumed coverage on Blackline in a research report on Tuesday, November 22nd. They issued a neutral rating for the company. Robert W. Baird assumed coverage on Blackline in a research report on Tuesday, November 22nd. They issued an outperform rating and a $33.00 target price for the company. JPMorgan Chase & Co. assumed coverage on Blackline in a research report on Tuesday, November 22nd. They issued a neutral rating for the company. Pacific Crest assumed coverage on Blackline in a research report on Tuesday, November 22nd. They issued an overweight rating and a $31.00 target price for the company. Finally, Raymond James Financial Inc. assumed coverage on Blackline in a research report on Tuesday, November 22nd. They issued an outperform rating and a $31.00 target price for the company. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The stock has an average rating of Buy and an average target price of $31.67.
In other Blackline news, major shareholder Iconiq Strategic Partners, L.P purchased 825,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 2nd. The shares were acquired at an average price of $17.00 per share, for a total transaction of $14,025,000.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.
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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