Blackline (NASDAQ:BL) Updates FY20 Earnings Guidance

Blackline (NASDAQ:BL) updated its FY20 earnings guidance on Thursday. The company provided earnings per share guidance of $0.45-0.48 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $0.52. The company issued revenue guidance of $347-352 million, compared to the consensus revenue estimate of $346.57 million.Blackline also updated its FY 2020
After-Hours guidance to 0.45-0.48 EPS.

A number of equities research analysts recently weighed in on the company. Oppenheimer restated a buy rating and issued a $79.00 price target on shares of Blackline in a research note on Friday. TheStreet upgraded Blackline from a d+ rating to a c rating in a research note on Monday, October 28th. JMP Securities increased their price target on Blackline from $60.00 to $69.00 and gave the company a positive rating in a research note on Tuesday, February 11th. BidaskClub upgraded Blackline from a buy rating to a strong-buy rating in a research note on Saturday, January 18th. Finally, Piper Sandler upgraded Blackline from a neutral rating to an overweight rating and increased their price target for the company from $60.00 to $78.00 in a research note on Friday. One analyst has rated the stock with a sell rating, three have assigned a hold rating, five have given a buy rating and one has given a strong buy rating to the company. Blackline presently has an average rating of Buy and a consensus price target of $62.00.

BL traded up $1.55 during trading hours on Friday, reaching $66.55. The company’s stock had a trading volume of 1,565,725 shares. Blackline has a 52 week low of $42.23 and a 52 week high of $74.44. The company’s 50-day moving average is $58.55 and its 200-day moving average is $52.19.

Blackline (NASDAQ:BL) last posted its quarterly earnings results on Thursday, February 13th. The technology company reported $0.14 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.19. The business had revenue of $80.26 million during the quarter, compared to the consensus estimate of $77.77 million. Equities analysts forecast that Blackline will post -0.25 earnings per share for the current year.

In other Blackline news, insider Morgan Karole Prager sold 35,870 shares of the company’s stock in a transaction on Thursday, January 16th. The stock was sold at an average price of $60.03, for a total value of $2,153,276.10. Following the transaction, the insider now directly owns 59,028 shares of the company’s stock, valued at approximately $3,543,450.84. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Mark Partin sold 20,000 shares of the company’s stock in a transaction on Thursday, January 16th. The shares were sold at an average price of $60.03, for a total value of $1,200,600.00. Following the completion of the transaction, the chief financial officer now directly owns 73,449 shares in the company, valued at $4,409,143.47. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 140,811 shares of company stock worth $7,860,972. Insiders own 15.77% of the company’s stock.

Blackline Company Profile

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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