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.
Several analysts have commented on the company. Raymond James Financial Inc. assumed coverage on Blackline in a report on Tuesday, November 22nd. They issued an outperform rating and a $31.00 price target for the company. JPMorgan Chase & Co. began coverage on Blackline in a report on Tuesday, November 22nd. They set a neutral rating for the company. Goldman Sachs Group Inc. began coverage on Blackline in a report on Tuesday, November 22nd. They set a neutral rating for the company. Pacific Crest reiterated an overweight rating on shares of Blackline in a report on Wednesday. Finally, Robert W. Baird began coverage on Blackline in a report on Tuesday, November 22nd. They set an outperform rating and a $33.00 target price for the company. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The company presently has a consensus rating of Buy and an average price target of $31.67.
Shares of Blackline Inc (NYSE:BL) traded down 4.81% during mid-day trading on Wednesday, hitting $26.94. The stock had a trading volume of 407,268 shares. The firm’s market cap is $1.10 billion. The company has a 50-day moving average of $24.93 and a 200 day moving average of $24.93. Blackline Inc has a one year low of $21.66 and a one year high of $28.50.
Blackline (NYSE:BL) last announced its earnings results on Wednesday, November 30th. The company reported ($0.05) EPS for the quarter, beating the consensus estimate of ($0.08) by $0.03. The company had revenue of $32.20 million for the quarter, compared to analysts’ expectations of $21.66 million. During the same period in the prior year, the company earned ($0.15) earnings per share. The company’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 bought 825,000 shares of Blackline stock in a transaction dated 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 Securities & Exchange Commission, which can be accessed through this hyperlink.
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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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