Financial automation software company BlackLine (NASDAQ:BL) will be reporting results this Tuesday afternoon. Here’s what to expect.
BlackLine beat analysts’ revenue expectations last quarter, reporting revenues of $183.2 million, up 9.7% year on year. It was a mixed quarter for the company, with an impressive beat of analysts’ adjusted operating income estimates but decelerating customer growth. It lost -93 customers and ended up with a total of 4,301.
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 8.7% year on year, improving from the 7.2% 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 Q2 results, giving us a hint as to what we can expect. Paychex delivered year-on-year revenue growth of 12.5%, meeting analysts’ expectations, and Asure Software reported revenues up 23.2%, in line with consensus estimates. Asure Software traded down 5% following the results.
Read our full analysis of Paychex’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 2.7% on average over the last month. BlackLine is up 7.9% during the same time and is heading into earnings with an average analyst price target of $41.10 (compared to the current share price of $31.40).
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