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.

How to Become a New Pot Stock Millionaire

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.

Several brokerages recently commented on BL. BidaskClub cut shares of BlackLine from a “buy” rating to a “hold” rating in a research note on Wednesday, March 14th. Zacks Investment Research cut shares of BlackLine from a “hold” rating to a “sell” rating in a research report on Thursday, February 22nd. SunTrust Banks cut shares of BlackLine from a “buy” rating to a “hold” rating and set a $43.00 target price for the company. in a research report on Monday, March 19th. They noted that the move was a valuation call. KeyCorp lifted their target price on shares of BlackLine from $46.00 to $52.00 and gave the stock an “overweight” rating in a research report on Monday, March 12th. Finally, Robert W. Baird restated a “buy” rating on shares of BlackLine in a research report on Friday, February 16th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $39.12.

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.

COPYRIGHT VIOLATION NOTICE: This piece of content was first published by Daily Political and is the property of of Daily Political. If you are viewing this piece of content on another domain, it was copied illegally and reposted in violation of US & international copyright & trademark laws. The legal version of this piece of content can be viewed at https://www.dailypolitical.com/2018/04/16/50-36-million-in-sales-expected-for-blackline-inc-bl-this-quarter.html.

About BlackLine

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.

Get a free copy of the Zacks research report on BlackLine (BL)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for BlackLine Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for BlackLine and related companies with MarketBeat.com's FREE daily email newsletter.