Blackline (NASDAQ:BL) posted its quarterly earnings data on Thursday. The technology company reported $0.03 EPS for the quarter, topping the consensus estimate of ($0.09) by $0.12, Fidelity Earnings reports. Blackline had a negative net margin of 12.02% and a negative return on equity of 3.58%. The business had revenue of $62.32 million for the quarter, compared to analyst estimates of $61.65 million. During the same quarter in the previous year, the firm posted $0.06 earnings per share. Blackline’s quarterly revenue was up 24.6% on a year-over-year basis.

Shares of Blackline stock opened at $51.49 on Friday. The stock has a market capitalization of $2.81 billion, a price-to-earnings ratio of -139.16 and a beta of 1.03. Blackline has a 52-week low of $34.01 and a 52-week high of $58.11.

Several brokerages have issued reports on BL. Raymond James cut shares of 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. CIBC began coverage on shares of Blackline in a report on Friday, October 19th. They issued a “market perform” rating for the company. KeyCorp reaffirmed a “buy” rating and issued a $56.00 target price (down from $65.00) on shares of Blackline in a report on Thursday, November 15th. Goldman Sachs Group reaffirmed a “buy” rating and issued a $53.00 target price on shares of Blackline in a report on Friday, February 1st. Finally, Robert W. Baird decreased their target price on shares of Blackline from $60.00 to $55.00 and set an “outperform” rating for the company in a report on Friday, November 2nd. Five equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $50.40.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. raised its holdings in shares of Blackline by 7.8% during the fourth quarter. BlackRock Inc. now owns 2,664,570 shares of the technology company’s stock valued at $109,115,000 after purchasing an additional 192,724 shares during the last quarter. Riverbridge Partners LLC increased its holdings in Blackline by 94.9% during the fourth quarter. Riverbridge Partners LLC now owns 1,611,836 shares of the technology company’s stock valued at $66,005,000 after buying an additional 784,889 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC purchased a new stake in Blackline during the fourth quarter valued at approximately $60,107,000. Brown Advisory Inc. increased its holdings in Blackline by 16.6% during the fourth quarter. Brown Advisory Inc. now owns 1,165,308 shares of the technology company’s stock valued at $47,719,000 after buying an additional 166,082 shares during the last quarter. Finally, Conestoga Capital Advisors LLC increased its holdings in Blackline by 6.0% during the fourth quarter. Conestoga Capital Advisors LLC now owns 1,110,837 shares of the technology company’s stock valued at $45,489,000 after buying an additional 62,582 shares during the last quarter. 83.81% of the stock is owned by hedge funds and other institutional investors.

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Blackline Company Profile

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

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Earnings History for Blackline (NASDAQ:BL)

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