Blackline Inc (NYSE:BL) issued its quarterly earnings data on Wednesday. The company reported ($0.05) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.08) by $0.03. The company had revenue of $32.20 million for the quarter, compared to analyst estimates of $21.66 million. During the same quarter in the prior year, the firm earned ($0.15) earnings per share. The company’s revenue for the quarter was up 48.7% on a year-over-year basis. Blackline updated its Q4 guidance to ($0.13-0.11) EPS.

Shares of Blackline (NYSE:BL) traded down 4.81% on Wednesday, reaching $26.94. The company’s stock had a trading volume of 407,168 shares. The stock has a 50-day moving average of $24.93 and a 200 day moving average of $24.93. Blackline has a 1-year low of $21.66 and a 1-year high of $28.50. The stock’s market capitalization is $1.10 billion.

In other news, major shareholder Iconiq Strategic Partners, L.P purchased 825,000 shares of the company’s stock in a transaction on Wednesday, November 2nd. The shares were bought at an average price of $17.00 per share, for a total transaction of $14,025,000.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

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BL has been the subject of several research reports. Pacific Crest initiated coverage on Blackline in a research report on Tuesday, November 22nd. They set an “overweight” rating and a $31.00 price objective for the company. Raymond James Financial Inc. initiated coverage on Blackline in a research report on Tuesday, November 22nd. They set an “outperform” rating and a $31.00 price objective for the company. Goldman Sachs Group Inc. initiated coverage on Blackline in a research report on Tuesday, November 22nd. They set a “neutral” rating for the company. JPMorgan Chase & Co. initiated coverage on Blackline in a research report on Tuesday, November 22nd. They set a “neutral” rating for the company. Finally, William Blair initiated coverage on Blackline in a research report on Tuesday, November 22nd. They set an “outperform” rating for the company. Two research 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 a consensus price target of $31.67.

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.

5 Day Chart for NYSE:BL

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