Blackline (BL) Issues Q2 Earnings Guidance

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Blackline (NASDAQ:BL) updated its second quarter earnings guidance on Thursday. The company provided EPS guidance of $0.00-0.03 for the period, compared to the Thomson Reuters consensus EPS estimate of $0.02. The company issued revenue guidance of $67.4-68.4 million, compared to the consensus revenue estimate of $67.63 million.Blackline also updated its FY19 guidance to $0.15-0.18 EPS.

Several research analysts have weighed in on the company. BidaskClub upgraded Blackline from a hold rating to a buy rating in a report on Thursday, April 18th. Zacks Investment Research downgraded Blackline from a buy rating to a hold rating in a report on Wednesday, April 17th. KeyCorp restated a buy rating and set a $56.00 price objective on shares of Blackline in a report on Thursday, February 14th. Goldman Sachs Group restated a buy rating and set a $53.00 price objective on shares of Blackline in a report on Friday, February 1st. Finally, Raymond James downgraded Blackline from an outperform rating to a market perform rating in a report on Tuesday, January 22nd. They noted that the move was a valuation call. Four equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of Buy and a consensus price target of $54.50.

Shares of BL stock traded up $1.67 on Thursday, reaching $53.28. 841,394 shares of the stock were exchanged, compared to its average volume of 460,024. The company has a market cap of $2.86 billion, a price-to-earnings ratio of -204.92 and a beta of 1.05. Blackline has a 1-year low of $34.01 and a 1-year high of $58.11.

Blackline (NASDAQ:BL) last released its quarterly earnings data on Thursday, May 2nd. The technology company reported $0.02 EPS for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.03. The business had revenue of $64.13 million during the quarter, compared to the consensus estimate of $63.33 million. Blackline had a negative return on equity of 4.52% and a negative net margin of 12.21%. The business’s revenue for the quarter was up 25.1% on a year-over-year basis. During the same period in the prior year, the firm posted $0.01 EPS. As a group, equities analysts forecast that Blackline will post -0.29 earnings per share for the current year.

In related news, CEO Therese Tucker sold 500,000 shares of the company’s stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $48.16, for a total transaction of $24,080,000.00. Following the completion of the sale, the chief executive officer now directly owns 63,672 shares of the company’s stock, valued at approximately $3,066,443.52. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Mario Spanicciati sold 400,000 shares of the company’s stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $48.16, for a total transaction of $19,264,000.00. Following the sale, the insider now directly owns 11,812 shares of the company’s stock, valued at $568,865.92. The disclosure for this sale can be found here. Corporate insiders own 15.77% of the company’s stock.

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About Blackline

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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