Blackline Inc (BL) Releases FY17 Earnings Guidance

Blackline Inc (NASDAQ:BL) issued an update on its FY17 earnings guidance on Thursday morning. The company provided earnings per share guidance of ($0.10) for the period, compared to the Thomson Reuters consensus earnings per share estimate of ($0.17). The company issued revenue guidance of $174-$175 million, compared to the consensus revenue estimate of $172.13 million.Blackline also updated its Q4 guidance to $0.00 EPS.

Blackline Inc (NASDAQ BL) opened at $36.12 on Monday. Blackline Inc has a one year low of $22.39 and a one year high of $40.28.

Blackline (NASDAQ:BL) last released its quarterly earnings data on Thursday, November 2nd. The technology company reported ($0.01) EPS for the quarter, beating analysts’ consensus estimates of ($0.19) by $0.18. Blackline had a negative return on equity of 8.00% and a negative net margin of 29.53%. The business had revenue of $45.90 million during the quarter, compared to the consensus estimate of $44.07 million. During the same quarter in the prior year, the company posted ($0.05) earnings per share. The firm’s revenue was up 42.5% on a year-over-year basis. research analysts anticipate that Blackline Inc will post -0.42 EPS for the current fiscal year.

Several research analysts have recently weighed in on BL shares. SunTrust Banks, Inc. reaffirmed a buy rating and set a $42.00 price objective on shares of Blackline in a research report on Friday, November 3rd. BidaskClub cut Blackline from a buy rating to a hold rating in a research report on Saturday, November 4th. KeyCorp reaffirmed a buy rating and issued a $39.00 price objective on shares of Blackline in a research report on Sunday, October 22nd. Robert W. Baird set a $42.00 target price on Blackline and gave the stock a buy rating in a research note on Sunday, October 1st. Finally, Zacks Investment Research upgraded Blackline from a hold rating to a buy rating and set a $34.00 target price on the stock in a research note on Wednesday, August 9th. Five equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of Buy and a consensus target price of $36.53.

In other Blackline news, insider Mario Spanicciati sold 8,500 shares of the business’s stock in a transaction that occurred on Monday, August 21st. The stock was sold at an average price of $29.25, for a total transaction of $248,625.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Therese Tucker sold 20,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 23rd. The stock was sold at an average price of $29.12, for a total value of $582,400.00. The disclosure for this sale can be found here. Insiders have sold a total of 153,875 shares of company stock worth $5,000,211 over the last ninety days. Company insiders own 22.35% of the company’s stock.

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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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