$50.36 Million in Sales Expected for BlackLine, Inc. (BL) This Quarter
Wall Street analysts expect BlackLine, Inc. (NASDAQ:BL) to announce $50.36 million in sales for the current quarter, Zacks reports. Six analysts have made estimates for BlackLine’s earnings, with the highest sales estimate coming in at $50.52 million and the lowest estimate coming in at $50.18 million. BlackLine posted sales of $38.63 million during the same quarter last year, which suggests a positive year-over-year growth rate of 30.4%. The company is scheduled to issue its next earnings results after the market closes on Thursday, May 3rd.
On average, analysts expect that BlackLine will report full year sales of $222.65 million for the current fiscal year, with estimates ranging from $220.00 million to $224.07 million. For the next financial year, analysts anticipate that the business will report sales of $278.84 million per share, with estimates ranging from $265.30 million to $290.38 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that follow BlackLine.
BlackLine (NASDAQ:BL) last announced its quarterly earnings data on Thursday, February 15th. The technology company reported $0.03 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.09) by $0.12. BlackLine had a negative net margin of 21.50% and a negative return on equity of 6.53%. The firm had revenue of $50.23 million during the quarter, compared to analysts’ expectations of $47.69 million. During the same quarter last year, the business earned ($0.08) earnings per share. The business’s revenue for the quarter was up 42.1% compared to the same quarter last year.
In other news, CRO Chris Murphy sold 50,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 14th. The shares were sold at an average price of $39.60, for a total value of $1,980,000.00. Following the completion of the transaction, the executive now owns 68,872 shares of the company’s stock, valued at $2,727,331.20. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Mario Spanicciati sold 700,000 shares of the business’s stock in a transaction that occurred on Thursday, March 15th. The shares were sold at an average price of $40.75, for a total transaction of $28,525,000.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 3,090,000 shares of company stock valued at $125,860,000. 18.60% of the stock is currently owned by company insiders.
Several large investors have recently bought and sold shares of BL. Metropolitan Life Insurance Co. NY acquired a new position in shares of BlackLine in the fourth quarter valued at approximately $175,000. Wolverine Trading LLC purchased a new stake in BlackLine in the third quarter valued at approximately $246,000. MetLife Investment Advisors LLC purchased a new stake in BlackLine in the fourth quarter valued at approximately $248,000. First Republic Investment Management Inc. purchased a new stake in BlackLine in the third quarter valued at approximately $257,000. Finally, Quadrature Capital Ltd purchased a new stake in BlackLine in the fourth quarter valued at approximately $293,000. 80.95% of the stock is owned by institutional investors and hedge funds.
Shares of NASDAQ BL traded up $0.37 during midday trading on Monday, hitting $40.61. The company had a trading volume of 429,380 shares, compared to its average volume of 564,750. BlackLine has a twelve month low of $28.79 and a twelve month high of $45.19. The stock has a market capitalization of $2,146.73, a price-to-earnings ratio of -109.76 and a beta of -0.37.
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BlackLine, Inc provides financial accounting close solutions delivered as a Software as a Service in the United States and internationally. Its solutions enables its customers to address various aspects of their financial closing process, including account reconciliations, variance analysis of account balances, and journal entry capabilities, as well as a range of data matching capabilities.
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