Equities research analysts forecast that Blackline Inc (NASDAQ:BL) will announce $61.66 million in sales for the current fiscal quarter, Zacks Investment Research reports. Seven analysts have made estimates for Blackline’s earnings, with the highest sales estimate coming in at $61.97 million and the lowest estimate coming in at $61.46 million. Blackline posted sales of $50.23 million in the same quarter last year, which suggests a positive year-over-year growth rate of 22.8%. The business is expected to announce its next quarterly earnings results on Thursday, February 21st.

According to Zacks, analysts expect that Blackline will report full year sales of $227.14 million for the current financial year, with estimates ranging from $226.93 million to $227.44 million. For the next financial year, analysts expect that the firm will report sales of $278.50 million, with estimates ranging from $272.45 million to $286.61 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of research firms that that provide coverage for Blackline.

Blackline (NASDAQ:BL) last issued its quarterly earnings data on Thursday, November 1st. The technology company reported $0.07 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.08) by $0.15. The business had revenue of $58.70 million during the quarter, compared to analysts’ expectations of $57.64 million. Blackline had a negative return on equity of 3.58% and a negative net margin of 12.02%. The company’s revenue for the quarter was up 29.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.01) EPS.

Several brokerages recently weighed in on BL. BidaskClub lowered Blackline from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, October 9th. KeyCorp lifted their price target on Blackline from $52.00 to $65.00 and gave the company an “overweight” rating in a research note on Tuesday, September 18th. CIBC began coverage on Blackline in a research note on Friday, October 19th. They issued a “market perform” rating for the company. Zacks Investment Research upgraded Blackline from a “sell” rating to a “hold” rating in a research note on Thursday, September 6th. Finally, Robert W. Baird cut their price target on Blackline from $60.00 to $55.00 and set an “outperform” rating for the company in a research note on Friday, November 2nd. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $45.20.

Shares of BL stock traded down $1.73 on Friday, hitting $39.88. The company had a trading volume of 11,864 shares, compared to its average volume of 501,685. The stock has a market cap of $2.29 billion, a PE ratio of -107.54 and a beta of 0.95. Blackline has a twelve month low of $31.53 and a twelve month high of $58.11.

Institutional investors have recently made changes to their positions in the stock. Rehmann Capital Advisory Group purchased a new stake in Blackline during the 3rd quarter worth approximately $63,000. Financial Architects Inc purchased a new stake in shares of Blackline in the second quarter valued at approximately $102,000. Great West Life Assurance Co. Can grew its position in shares of Blackline by 129.4% in the second quarter. Great West Life Assurance Co. Can now owns 3,211 shares of the technology company’s stock valued at $139,000 after purchasing an additional 1,811 shares in the last quarter. Ibex Investors LLC purchased a new stake in shares of Blackline in the third quarter valued at approximately $212,000. Finally, BB&T Corp purchased a new stake in shares of Blackline in the third quarter valued at approximately $212,000. Hedge funds and other institutional investors own 81.68% of the company’s stock.

About Blackline

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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