Blackline (NASDAQ:BL) Issues Earnings Results

Blackline (NASDAQ:BL) issued its earnings results on Wednesday. The technology company reported $0.12 earnings per share for the quarter, beating analysts’ consensus estimates of $0.03 by $0.09, reports. Blackline had a negative net margin of 10.20% and a negative return on equity of 4.05%. The firm had revenue of $74.93 million for the quarter, compared to analyst estimates of $72.33 million. During the same quarter last year, the business posted $0.07 earnings per share. The company’s quarterly revenue was up 27.6% on a year-over-year basis. Blackline updated its Q4 guidance to $0.12-0.13 EPS.

Blackline stock traded down $0.21 during mid-day trading on Friday, reaching $49.50. The company had a trading volume of 431,300 shares, compared to its average volume of 519,778. Blackline has a fifty-two week low of $34.01 and a fifty-two week high of $56.29. The company has a market cap of $2.61 billion, a P/E ratio of -190.38 and a beta of 0.75. The business has a fifty day simple moving average of $47.44 and a 200 day simple moving average of $49.69. The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 0.04.

A number of analysts have weighed in on the stock. ValuEngine lowered shares of Blackline from a “buy” rating to a “hold” rating in a research report on Thursday, October 10th. BidaskClub upgraded shares of Blackline from a “sell” rating to a “hold” rating in a research report on Friday. Zacks Investment Research lowered shares of Blackline from a “buy” rating to a “hold” rating in a research report on Wednesday, October 23rd. First Analysis assumed coverage on shares of Blackline in a research report on Friday, October 4th. They issued an “outperform” rating and a $55.00 target price on the stock. Finally, TheStreet upgraded shares of Blackline from a “d+” rating to a “c” rating in a research report on Monday, October 28th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $52.50.

In related news, CFO Mark Partin sold 10,000 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $50.99, for a total transaction of $509,900.00. Following the transaction, the chief financial officer now directly owns 64,294 shares in the company, valued at $3,278,351.06. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 15.77% of the stock is currently owned by insiders.

Blackline Company Profile

BlackLine, Inc provides financial accounting close solutions delivered primarily as Software as a Service in the United States and internationally. Its solutions enable its customers to address various aspects of their financial closing process, including account reconciliations, variance analysis of account balances, journal entry capabilities, and range of data matching capabilities.

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Earnings History for Blackline (NASDAQ:BL)

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