Wall Street brokerages expect that Blackline Inc (NYSE:BL) will announce earnings per share (EPS) of ($0.15) for the current fiscal quarter, according to Zacks. Five analysts have issued estimates for Blackline’s earnings. The firm is scheduled to announce its next earnings results on Thursday, August 3rd.
According to Zacks, analysts expect that Blackline will report full-year earnings of ($0.45) per share for the current fiscal year, with EPS estimates ranging from ($0.47) to ($0.44). For the next year, analysts expect that the company will report earnings of ($0.41) per share, with EPS estimates ranging from ($0.45) to ($0.36). Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of research firms that that provide coverage for Blackline.
Blackline (NYSE:BL) last released its earnings results on Thursday, February 23rd. The technology company reported ($0.08) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.12) by $0.04. The company had revenue of $35.90 million for the quarter, compared to analyst estimates of $34.13 million. Blackline’s revenue for the quarter was up 46.5% on a year-over-year basis.
Several brokerages recently issued reports on BL. Vetr downgraded shares of Blackline from a “strong-buy” rating to a “buy” rating and set a $35.26 price target on the stock. in a research report on Tuesday, April 18th. William Blair reiterated an “outperform” rating on shares of Blackline in a research report on Monday, May 8th. Zacks Investment Research downgraded shares of Blackline from a “buy” rating to a “hold” rating in a research report on Wednesday, April 26th. Finally, Robert W. Baird began coverage on shares of Blackline in a research report on Tuesday, February 28th. They set an “outperform” rating and a $33.00 price target on the stock. Two research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $33.34.
A number of hedge funds and other institutional investors have recently modified their holdings of BL. Nationwide Fund Advisors increased its position in shares of Blackline by 26.7% in the first quarter. Nationwide Fund Advisors now owns 5,776 shares of the technology company’s stock valued at $172,000 after buying an additional 1,217 shares during the period. Schwab Charles Investment Management Inc. increased its position in shares of Blackline by 5.5% in the first quarter. Schwab Charles Investment Management Inc. now owns 32,770 shares of the technology company’s stock valued at $976,000 after buying an additional 1,710 shares during the period. Teachers Advisors LLC increased its position in shares of Blackline by 32.9% in the first quarter. Teachers Advisors LLC now owns 14,891 shares of the technology company’s stock valued at $443,000 after buying an additional 3,689 shares during the period. Bank of New York Mellon Corp increased its position in shares of Blackline by 15.8% in the first quarter. Bank of New York Mellon Corp now owns 31,664 shares of the technology company’s stock valued at $943,000 after buying an additional 4,311 shares during the period. Finally, American International Group Inc. bought a new position in shares of Blackline during the first quarter valued at about $173,000.
Blackline (NYSE:BL) traded up 1.96% during trading on Tuesday, reaching $32.33. 161,819 shares of the company’s stock traded hands. The company’s market capitalization is $1.66 billion. Blackline has a 12 month low of $21.66 and a 12 month high of $33.71. The firm’s 50 day moving average is $31.60 and its 200-day moving average is $28.21.
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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