Financial automation software company BlackLine (NASDAQ: BL) will be reporting earnings this Thursday after market close. Here’s what investors should know.
BlackLine met analysts’ revenue expectations last quarter, reporting revenues of $187.8 million, up 9.2% year on year. It was a mixed quarter for the company, with accelerating customer growth but a significant miss of analysts’ billings estimates. It lost -1 customers and ended up with a total of 4,300.
Is BlackLine a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting BlackLine’s revenue to grow 8.9% year on year, improving from the 7.5% increase it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings. BlackLine has a history of exceeding Wall Street’s expectations.
Looking at BlackLine’s peers in the finance and hr software segment, some have already reported their Q3 results, giving us a hint as to what we can expect. Flywire delivered year-on-year revenue growth of 26%, beating analysts’ expectations by 5%, and Asure Software reported revenues up 10.4%, topping estimates by 2.4%. Asure Software traded up 27.7% following the results.
Read our full analysis of Flywire’s results here and Asure Software’s results here.
There has been positive sentiment among investors in the finance and hr software segment, with share prices up 3.5% on average over the last month. BlackLine is up 19.4% during the same time and is heading into earnings with an average analyst price target of $38.10 (compared to the current share price of $33.58).
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