Analysts Expect Blackline Inc (BL) to Announce -$0.01 Earnings Per Share

Wall Street analysts expect Blackline Inc (NASDAQ:BL) to post earnings per share (EPS) of ($0.01) for the current fiscal quarter, Zacks reports. Six analysts have issued estimates for Blackline’s earnings, with the lowest EPS estimate coming in at ($0.02) and the highest estimate coming in at $0.00. Blackline posted earnings per share of $0.01 during the same quarter last year, which indicates a negative year-over-year growth rate of 200%. The company is expected to issue its next quarterly earnings report on Thursday, May 2nd.

On average, analysts expect that Blackline will report full year earnings of $0.15 per share for the current financial year, with EPS estimates ranging from $0.15 to $0.16. For the next fiscal year, analysts forecast that the company will post earnings of $0.28 per share, with EPS estimates ranging from $0.24 to $0.35. Zacks Investment Research’s earnings per share averages are an average based on a survey of research firms that follow Blackline.

Blackline (NASDAQ:BL) last released its quarterly earnings data on Thursday, February 14th. The technology company reported $0.03 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.09) by $0.12. The firm had revenue of $62.32 million during the quarter, compared to analyst estimates of $61.65 million. Blackline had a negative return on equity of 4.52% and a negative net margin of 12.21%. The business’s quarterly revenue was up 24.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.06 earnings per share.

A number of equities research analysts recently commented on the company. Goldman Sachs Group reiterated a “buy” rating and issued a $53.00 target price on shares of Blackline in a research report on Friday, February 1st. Zacks Investment Research upgraded Blackline from a “hold” rating to a “buy” rating and set a $45.00 target price on the stock in a research report on Tuesday, January 1st. Raymond James downgraded Blackline from an “outperform” rating to a “market perform” rating in a research report on Tuesday, January 22nd. They noted that the move was a valuation call. BidaskClub downgraded Blackline from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, March 5th. Finally, KeyCorp reiterated a “buy” rating and issued a $56.00 target price on shares of Blackline in a research report on Thursday, February 14th. Five research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $52.25.

Shares of NASDAQ:BL traded up $0.31 during mid-day trading on Monday, reaching $47.36. The stock had a trading volume of 316,000 shares, compared to its average volume of 475,577. The company has a market capitalization of $2.59 billion, a P/E ratio of -182.15 and a beta of 1.05. Blackline has a 1 year low of $34.01 and a 1 year high of $58.11.

In related news, insider Morgan Karole Prager sold 19,692 shares of the stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $46.84, for a total value of $922,373.28. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Mario Spanicciati sold 400,000 shares of the stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $48.16, for a total value of $19,264,000.00. Following the completion of the transaction, the insider now directly owns 11,812 shares in the company, valued at approximately $568,865.92. The disclosure for this sale can be found here. Over the last quarter, insiders sold 4,925,408 shares of company stock worth $237,152,823. Company insiders own 18.60% of the company’s stock.

A number of large investors have recently made changes to their positions in the stock. Geode Capital Management LLC grew its stake in Blackline by 6.2% in the fourth quarter. Geode Capital Management LLC now owns 422,848 shares of the technology company’s stock worth $17,315,000 after purchasing an additional 24,664 shares in the last quarter. Norges Bank bought a new position in Blackline in the fourth quarter worth approximately $11,551,000. Amalgamated Bank bought a new position in Blackline in the fourth quarter worth approximately $216,000. Millennium Management LLC grew its stake in Blackline by 101.7% in the fourth quarter. Millennium Management LLC now owns 82,665 shares of the technology company’s stock worth $3,385,000 after purchasing an additional 41,688 shares in the last quarter. Finally, Legal & General Group Plc grew its stake in Blackline by 7.3% in the fourth quarter. Legal & General Group Plc now owns 14,597 shares of the technology company’s stock worth $598,000 after purchasing an additional 991 shares in the last quarter. 85.72% of the stock is currently owned by institutional investors.

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.

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