Analysts expect that Blackline Inc (NASDAQ:BL) will announce earnings of $0.01 per share for the current quarter, according to Zacks Investment Research. Seven analysts have made estimates for Blackline’s earnings, with the lowest EPS estimate coming in at $0.00 and the highest estimate coming in at $0.03. Blackline reported earnings of $0.03 per share during the same quarter last year, which would indicate a negative year-over-year growth rate of 66.7%. The company is expected to issue its next quarterly earnings report after the market closes on Thursday, February 14th.
According to Zacks, analysts expect that Blackline will report full year earnings of $0.09 per share for the current fiscal year, with EPS estimates ranging from $0.09 to $0.12. For the next fiscal year, analysts forecast that the business will report earnings of $0.14 per share, with EPS estimates ranging from $0.11 to $0.24. Zacks’ EPS averages are an average based on a survey of research firms that follow Blackline.
Several analysts have commented on the company. BidaskClub upgraded Blackline from a “buy” rating to a “strong-buy” rating in a report on Tuesday, February 5th. Goldman Sachs Group restated a “buy” rating and issued a $53.00 price target on shares of Blackline in a report on Friday, February 1st. Raymond James cut 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. Oppenheimer assumed coverage on Blackline in a research note on Friday, October 19th. They issued a “market perform” rating on the stock. Finally, CIBC assumed coverage on Blackline in a research note on Friday, October 19th. They issued a “market perform” rating on the stock. Four investment analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $50.40.
BL opened at $47.60 on Friday. Blackline has a 12 month low of $32.08 and a 12 month high of $58.11.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Parkside Financial Bank & Trust lifted its stake in shares of Blackline by 82.6% in the 4th quarter. Parkside Financial Bank & Trust now owns 1,528 shares of the technology company’s stock valued at $63,000 after purchasing an additional 691 shares in the last quarter. Rehmann Capital Advisory Group acquired a new position in shares of Blackline in the 3rd quarter valued at about $63,000. Evanson Asset Management LLC lifted its stake in shares of Blackline by 19.5% in the 4th quarter. Evanson Asset Management LLC now owns 7,350 shares of the technology company’s stock valued at $301,000 after purchasing an additional 1,200 shares in the last quarter. Strs Ohio lifted its stake in shares of Blackline by 9.8% in the 4th quarter. Strs Ohio now owns 16,800 shares of the technology company’s stock valued at $687,000 after purchasing an additional 1,500 shares in the last quarter. Finally, PNC Financial Services Group Inc. lifted its position in Blackline by 2.8% during the 4th quarter. PNC Financial Services Group Inc. now owns 58,000 shares of the technology company’s stock worth $2,376,000 after acquiring an additional 1,601 shares in the last quarter. 83.81% of the stock is currently owned by institutional investors and hedge funds.
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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