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BlackLine, Inc. (BL) 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.
The company's platform consists of nine core cloud-based products, including Transaction Matching, Account Reconciliations, Consolidation Integrity Manager, Daily Reconciliations, Journal Entry, Variance Analysis, Task Management, Compliance, and Insights.
Its solutions include balance sheet integrity, close process management, accounting process automation, finance transformation, intercompany hub, and smart close.
The company designs its products to complement enterprise resource planning and other financial systems, including NetSuite, Oracle, SAP, and Workday; and financial close management and accounting automation from within a single, unified cloud platform. It has strategic alliances with technology vendors, such as SAP and NetSuite; professional services firms, including Deloitte, Ernst & Young, and KPMG; and business process outsourcers, such as Cognizant, Genpact, and IBM.
Shares have formed a bullish upward "trading channel" following the company's latest quarterly report. Te 50-day moving average is supporting the formation. On My 2nd, Blackline (BL) reported a 1st Quarter March 2019 loss of $0.10 per share on revenue of $64.1 million. The consensus estimate was a loss of $0.12 per share on revenue of $63.3 million. Revenue grew 25.0% on a year-over-year basis.
The company said it expects second quarter non-GAAP results to range from breakeven to earnings of $0.03 per share on revenue of $67.4 million to $68.4 million. The current consensus estimate is earnings of $0.01 per share on revenue of $67.5 million for the quarter ending June 30, 2019.
Entry Point: $49.50
Stop Loss: $47.00
Trading Range: $34.01 - $58.11
Target Price: $54.45
BL closed at $52.00
