Blackline (BL) Announces Quarterly Earnings Results, Beats Expectations By $0.12 EPS
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.
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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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