BlackLine (NASDAQ:BL) Releases FY24 Earnings Guidance

BlackLine (NASDAQ:BL) updated its FY24 earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of $2.12-2.26 for the period, compared to the consensus estimate of $2.07. The company issued revenue guidance of $641.5-649.5 million, compared to the consensus revenue estimate of $644.67 million. BlackLine also updated its Q2 guidance to $0.49-0.51 EPS.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. Citigroup lowered their price objective on shares of BlackLine from $66.00 to $63.00 and set a neutral rating for the company in a research note on Tuesday, April 23rd. Robert W. Baird boosted their target price on shares of BlackLine from $61.00 to $72.00 and gave the company an outperform rating in a research report on Wednesday. JMP Securities reaffirmed a market outperform rating and issued a $81.00 price objective on shares of BlackLine in a report on Wednesday, February 14th. William Blair cut shares of BlackLine from an outperform rating to a market perform rating in a report on Wednesday, February 14th. Finally, Piper Sandler raised shares of BlackLine from an underweight rating to a neutral rating and boosted their target price for the stock from $55.00 to $62.00 in a research note on Tuesday, April 23rd. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of Hold and an average target price of $64.10.

BlackLine Stock Down 0.9 %

BL traded down $0.52 during trading hours on Thursday, hitting $58.99. 831,029 shares of the company’s stock were exchanged, compared to its average volume of 887,092. The company has a current ratio of 2.19, a quick ratio of 2.19 and a debt-to-equity ratio of 4.37. The firm has a 50 day moving average of $62.55 and a 200 day moving average of $59.63. The firm has a market cap of $3.65 billion, a P/E ratio of 259.09, a price-to-earnings-growth ratio of 10.82 and a beta of 0.87. BlackLine has a 12-month low of $47.26 and a 12-month high of $69.31.

BlackLine (NASDAQ:BL) last announced its quarterly earnings results on Tuesday, February 13th. The technology company reported $0.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.26 by $0.28. BlackLine had a negative net margin of 1.50% and a positive return on equity of 2.15%. The business had revenue of $155.73 million during the quarter, compared to the consensus estimate of $154.24 million. Analysts predict that BlackLine will post 1.02 EPS for the current fiscal year.

Insider Transactions at BlackLine

In other news, Director Kevin B. Thompson sold 4,500 shares of BlackLine stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $57.50, for a total transaction of $258,750.00. Following the completion of the sale, the director now directly owns 11,000 shares in the company, valued at $632,500. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other BlackLine news, CRO Mark Woodhams sold 2,877 shares of BlackLine stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $58.00, for a total transaction of $166,866.00. Following the transaction, the executive now directly owns 104,682 shares of the company’s stock, valued at $6,071,556. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Kevin B. Thompson sold 4,500 shares of BlackLine stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $57.50, for a total transaction of $258,750.00. Following the transaction, the director now directly owns 11,000 shares in the company, valued at $632,500. The disclosure for this sale can be found here. Insiders own 9.93% of the company’s stock.

BlackLine Company Profile

BlackLine, Inc provides cloud-based solutions to automate and streamline accounting and finance operations worldwide. It offers financial close management solutions, such as account reconciliations that provides a centralized workspace for users to collaborate on account reconciliations; transaction matching that analyzes and reconciles individual transactions; task management to create and manage processes and task lists; and financial reporting analytics that enables analysis and validation of financial data.