Blackline Inc (BL) Releases Quarterly Earnings Results, Beats Estimates By $0.03 EPS
Blackline Inc (NYSE:BL) posted its quarterly earnings data on Wednesday. The company reported ($0.05) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.08) by $0.03. The company earned $32.20 million during the quarter, compared to the consensus estimate of $21.66 million. The company’s revenue was up 48.7% on a year-over-year basis. During the same quarter last year, the business earned ($0.15) earnings per share. Blackline updated its Q4 guidance to ($0.13-0.11) EPS.
Shares of Blackline (NYSE:BL) traded down 4.81% during midday trading on Wednesday, hitting $26.94. 407,168 shares of the company traded hands. The stock’s market capitalization is $1.10 billion. The stock’s 50-day moving average is $24.93 and its 200 day moving average is $24.93. Blackline has a 12-month low of $21.66 and a 12-month high of $28.50.
A number of analysts recently weighed in on BL shares. Pacific Crest restated an “overweight” rating on shares of Blackline in a report on Wednesday. William Blair started coverage on shares of Blackline in a report on Tuesday, November 22nd. They set an “outperform” rating for the company. Raymond James Financial Inc. started coverage on shares of Blackline in a report on Tuesday, November 22nd. They set an “outperform” rating and a $31.00 target price for the company. JPMorgan Chase & Co. started coverage on shares of Blackline in a report on Tuesday, November 22nd. They set a “neutral” rating for the company. Finally, Robert W. Baird started coverage on shares of Blackline in a report on Tuesday, November 22nd. They set an “outperform” rating and a $33.00 target price for the company. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $31.67.
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In other 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 stock was purchased at an average cost of $17.00 per share, with a total value of $14,025,000.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through 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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