Zacks: Brokerages Anticipate Blackline Inc (BL) Will Post Quarterly Sales of $68.02 Million
Analysts expect Blackline Inc (NASDAQ:BL) to post $68.02 million in sales for the current fiscal quarter, according to Zacks Investment Research. Seven analysts have provided estimates for Blackline’s earnings. The lowest sales estimate is $67.85 million and the highest is $68.35 million. Blackline posted sales of $55.45 million in the same quarter last year, which suggests a positive year-over-year growth rate of 22.7%. The firm is expected to report its next quarterly earnings results on Thursday, August 1st.
On average, analysts expect that Blackline will report full-year sales of $279.22 million for the current financial year, with estimates ranging from $278.22 million to $280.07 million. For the next financial year, analysts anticipate that the firm will report sales of $340.36 million, with estimates ranging from $335.00 million to $345.13 million. Zacks Investment Research’s sales averages are a mean average based on a survey of research firms that that provide coverage for Blackline.
Blackline (NASDAQ:BL) last announced its earnings results on Thursday, May 2nd. The technology company reported $0.02 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.12) by $0.14. Blackline had a negative net margin of 12.15% and a negative return on equity of 5.02%. The company had revenue of $64.13 million during the quarter, compared to analyst estimates of $63.33 million. During the same period in the previous year, the business earned $0.01 earnings per share. The firm’s quarterly revenue was up 25.1% compared to the same quarter last year.
In other Blackline news, insider Mario Spanicciati sold 400,000 shares of the company’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $48.16, for a total transaction of $19,264,000.00. Following the completion of the sale, the insider now directly owns 11,812 shares in the company, valued at $568,865.92. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Therese Tucker sold 500,000 shares of the company’s stock in a transaction dated 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 sale, the chief executive officer now owns 63,672 shares of the company’s stock, valued at $3,066,443.52. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 910,000 shares of company stock valued at $43,844,100. Company insiders own 15.77% of the company’s stock.
Several institutional investors have recently bought and sold shares of the company. Diversified Trust Co bought a new position in Blackline in the first quarter worth about $288,000. FMR LLC raised its stake in Blackline by 47.1% in the first quarter. FMR LLC now owns 1,130,651 shares of the technology company’s stock worth $52,372,000 after buying an additional 361,839 shares in the last quarter. HighTower Advisors LLC raised its stake in Blackline by 32.2% in the first quarter. HighTower Advisors LLC now owns 6,352 shares of the technology company’s stock worth $303,000 after buying an additional 1,547 shares in the last quarter. Toronado Partners LLC raised its stake in Blackline by 53.7% in the first quarter. Toronado Partners LLC now owns 346,288 shares of the technology company’s stock worth $16,040,000 after buying an additional 120,948 shares in the last quarter. Finally, Pentwater Capital Management LP bought a new position in Blackline in the first quarter worth about $2,344,000. Institutional investors own 86.08% of the company’s stock.
Shares of NASDAQ:BL opened at $48.55 on Tuesday. Blackline has a 52-week low of $34.01 and a 52-week high of $58.11. The firm has a market capitalization of $2.83 billion, a P/E ratio of -186.73 and a beta of 0.94. The company has a quick ratio of 1.35, a current ratio of 1.35 and a debt-to-equity ratio of 0.04.
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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