Blackline (BL) Releases FY18 Earnings Guidance
Blackline (NASDAQ:BL) issued an update on its FY18 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $0.00 to $0.02 for the period, compared to the Thomson Reuters consensus estimate of ($0.04). The company issued revenue guidance of $219 million to $224 million, compared to the consensus revenue estimate of $224.38 million.Blackline also updated its Q1 guidance to -0.02 to -0.04 EPS.
Blackline (BL) traded up $1.14 during mid-day trading on Thursday, reaching $34.65. 622,363 shares of the company’s stock were exchanged, compared to its average volume of 333,826. Blackline has a 12 month low of $26.72 and a 12 month high of $40.28. The firm has a market capitalization of $1,753.79, a PE ratio of -36.09 and a beta of 1.99.
BL has been the topic of a number of research analyst reports. BidaskClub raised shares of Blackline from a hold rating to a buy rating in a report on Wednesday, October 25th. JPMorgan Chase & Co. cut shares of Blackline from a neutral rating to an underweight rating and set a $27.00 target price on the stock. in a report on Thursday, January 25th. JMP Securities raised shares of Blackline from a market perform rating to an outperform rating in a report on Thursday, November 16th. SunTrust Banks reaffirmed a buy rating and issued a $42.00 target price on shares of Blackline in a report on Friday, November 3rd. Finally, KeyCorp reaffirmed a buy rating and issued a $39.00 target price on shares of Blackline in a report on Sunday, October 22nd. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has a consensus rating of Buy and a consensus target price of $36.78.
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. Its platform supports accounting processes, such as the financial close, account reconciliation, intercompany accounting and controls assurance.
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