BlackLine, Inc. (NASDAQ:BL) Expected to Post Quarterly Sales of $126.41 Million

Wall Street brokerages expect BlackLine, Inc. (NASDAQ:BLGet Rating) to announce $126.41 million in sales for the current fiscal quarter, according to Zacks. Six analysts have provided estimates for BlackLine’s earnings, with estimates ranging from $126.10 million to $126.74 million. BlackLine posted sales of $102.12 million in the same quarter last year, which suggests a positive year-over-year growth rate of 23.8%. The company is expected to issue its next quarterly earnings report on Monday, January 1st.

According to Zacks, analysts expect that BlackLine will report full-year sales of $525.42 million for the current financial year, with estimates ranging from $524.10 million to $526.28 million. For the next year, analysts expect that the company will report sales of $633.09 million, with estimates ranging from $613.90 million to $644.68 million. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that that provide coverage for BlackLine.

BlackLine (NASDAQ:BLGet Rating) last released its quarterly earnings results on Thursday, May 5th. The technology company reported $0.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.09. BlackLine had a negative net margin of 19.28% and a negative return on equity of 12.37%. The firm had revenue of $120.24 million for the quarter, compared to analysts’ expectations of $119.57 million. During the same quarter last year, the company earned ($0.14) EPS. The firm’s revenue for the quarter was up 21.6% compared to the same quarter last year.

BL has been the topic of several recent research reports. TheStreet cut shares of BlackLine from a “c-” rating to a “d+” rating in a research report on Friday, February 11th. Piper Sandler cut their price target on shares of BlackLine from $130.00 to $112.00 and set an “overweight” rating on the stock in a research note on Friday, February 11th. Zacks Investment Research upgraded shares of BlackLine from a “hold” rating to a “buy” rating and set a $58.00 price target on the stock in a research note on Thursday, May 12th. Citigroup began coverage on shares of BlackLine in a research note on Tuesday, February 1st. They set a “hold” rating and a $92.00 target price on the stock. Finally, JMP Securities lowered their target price on shares of BlackLine from $145.00 to $112.00 and set a “market outperform” rating for the company in a report on Wednesday, April 20th. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, BlackLine has an average rating of “Buy” and a consensus target price of $96.22.

Shares of BL opened at $72.07 on Friday. BlackLine has a 52-week low of $49.66 and a 52-week high of $135.00. The company has a quick ratio of 3.45, a current ratio of 3.45 and a debt-to-equity ratio of 20.88. The firm’s fifty day moving average is $68.11 and its two-hundred day moving average is $86.48. The stock has a market cap of $4.27 billion, a PE ratio of -49.03 and a beta of 0.91.

In related news, CTO Peter Hirsch sold 3,427 shares of the business’s stock in a transaction that occurred on Tuesday, February 22nd. The shares were sold at an average price of $71.13, for a total value of $243,762.51. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Thomas Unterman sold 500 shares of the business’s stock in a transaction that occurred on Monday, May 2nd. The stock was sold at an average price of $66.82, for a total transaction of $33,410.00. Following the sale, the director now owns 45,801 shares of the company’s stock, valued at $3,060,422.82. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 4,927 shares of company stock valued at $349,413. 9.71% of the stock is currently owned by company insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of BL. Quadrant Capital Group LLC raised its holdings in shares of BlackLine by 3,036.4% during the first quarter. Quadrant Capital Group LLC now owns 345 shares of the technology company’s stock worth $25,000 after purchasing an additional 334 shares during the period. San Luis Wealth Advisors LLC acquired a new stake in shares of BlackLine during the first quarter worth $25,000. Pinebridge Investments L.P. acquired a new stake in shares of BlackLine during the fourth quarter worth $41,000. Mascoma Wealth Management LLC acquired a new stake in shares of BlackLine during the first quarter worth $48,000. Finally, Benjamin Edwards Inc. grew its position in shares of BlackLine by 9,762.5% during the first quarter. Benjamin Edwards Inc. now owns 789 shares of the technology company’s stock worth $58,000 after acquiring an additional 781 shares during the last quarter.

About BlackLine (Get Rating)

BlackLine, Inc provides cloud-based solutions to automate and streamline accounting and finance operations worldwide. It offers financial close management solutions, such as account reconciliations that provides a centralized workspace for users to collaborate on account reconciliations; transaction matching that analyzes and reconciles high volumes of individual transactions; and task management to create and manage processes and task lists.

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