Blackline (BL) Issues Q1 2019 Earnings Guidance

Blackline (NASDAQ:BL) issued an update on its first quarter 2019 earnings guidance on Thursday morning. The company provided EPS guidance of $-0.02-0.00 for the period, compared to the Thomson Reuters consensus EPS estimate of $0.01. The company issued revenue guidance of $62.8-63.8 million, compared to the consensus revenue estimate of $63.62 million.Blackline also updated its FY19 guidance to $0.14-0.17 EPS.

A number of research analysts have recently commented on the company. BidaskClub upgraded Blackline from a buy rating to a strong-buy rating in a research note on Tuesday, February 5th. CIBC assumed coverage on Blackline in a research note on Friday, October 19th. They issued a market perform rating for the company. Oppenheimer assumed 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 hold rating to a buy rating and set a $45.00 target price for the company in a research note on Tuesday, January 1st. Finally, Raymond James cut Blackline from an outperform rating to a market perform rating in a research note on Tuesday, January 22nd. They noted that the move was a valuation call. Four equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of Buy and a consensus price target of $50.40.

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Shares of BL traded up $0.79 on Thursday, reaching $49.24. The stock had a trading volume of 470,180 shares, compared to its average volume of 370,403. Blackline has a 12-month low of $33.31 and a 12-month high of $58.11. The stock has a market cap of $2.65 billion, a PE ratio of -133.08 and a beta of 1.03.

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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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