BlackLine (NASDAQ:BL) Updates FY 2024 Earnings Guidance

BlackLine (NASDAQ:BL) updated its FY 2024 earnings guidance on Wednesday. The company provided EPS guidance of 2.120-2.260 for the period, compared to the consensus EPS estimate of 2.070. The company issued revenue guidance of $641.5 million-$649.5 million, compared to the consensus revenue estimate of $644.6 million. BlackLine also updated its Q2 2024 guidance to 0.490-0.510 EPS.

Analysts Set New Price Targets

Several research firms have weighed in on BL. JMP Securities restated a market outperform rating and set a $81.00 target price on shares of BlackLine in a report on Wednesday, February 14th. Piper Sandler upgraded 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 report on Tuesday, April 23rd. Citigroup decreased their price objective on shares of BlackLine from $66.00 to $63.00 and set a neutral rating for the company in a report on Tuesday, April 23rd. JPMorgan Chase & Co. dropped their target price on shares of BlackLine from $55.00 to $52.00 and set an underweight rating on the stock in a report on Wednesday, February 14th. Finally, William Blair cut shares of BlackLine from an outperform rating to a market perform rating in a report on Wednesday, February 14th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, BlackLine has a consensus rating of Hold and a consensus price target of $63.78.

BlackLine Stock Down 0.5 %

Shares of BL stock opened at $60.43 on Wednesday. BlackLine has a one year low of $47.26 and a one year high of $69.31. The stock has a market cap of $3.73 billion, a P/E ratio of -604.30, a price-to-earnings-growth ratio of 10.82 and a beta of 0.87. The company has a debt-to-equity ratio of 4.37, a current ratio of 2.19 and a quick ratio of 2.19. The stock has a fifty day moving average price of $62.49 and a 200 day moving average price of $59.63.

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

Insider Buying and Selling at BlackLine

In other news, Director Kevin B. Thompson sold 4,500 shares of the business’s stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $57.50, for a total value of $258,750.00. Following the sale, the director now owns 11,000 shares in the company, valued at approximately $632,500. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Kevin B. Thompson sold 4,500 shares of the firm’s 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 completion of the sale, the director now owns 11,000 shares of the company’s stock, valued at $632,500. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CRO Mark Woodhams sold 2,877 shares of the business’s stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $58.00, for a total value of $166,866.00. Following the completion of the transaction, the executive now directly owns 104,682 shares in the company, valued at $6,071,556. The disclosure for this sale can be found here. Company insiders own 9.53% 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.