BlackLine (NASDAQ:BL) Issues FY24 Earnings Guidance

BlackLine (NASDAQ:BL) issued an update on its FY24 earnings guidance on Tuesday morning. 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.

BlackLine Trading Down 0.5 %

BL stock traded down $0.28 during mid-day trading on Tuesday, reaching $60.43. 676,980 shares of the stock traded hands, compared to its average volume of 887,074. The business has a 50-day moving average price of $62.42 and a two-hundred day moving average price of $59.58. The stock has a market capitalization of $3.73 billion, a PE ratio of -604.30, a PEG ratio of 10.82 and a beta of 0.87. The company has a debt-to-equity ratio of 4.37, a quick ratio of 2.19 and a current ratio of 2.19. BlackLine has a one year low of $47.26 and a one year high of $69.31.

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

Wall Street Analyst Weigh In

BL has been the topic of several recent research reports. William Blair lowered shares of BlackLine from an outperform rating to a market perform rating in a report on Wednesday, February 14th. Citigroup dropped their price objective on BlackLine from $66.00 to $63.00 and set a neutral rating on the stock in a report on Tuesday, April 23rd. Piper Sandler raised BlackLine from an underweight rating to a neutral rating and upped their target price for the stock from $55.00 to $62.00 in a research note on Tuesday, April 23rd. Robert W. Baird cut their price target on shares of BlackLine from $65.00 to $61.00 and set an outperform rating for the company in a report on Wednesday, February 14th. Finally, JPMorgan Chase & Co. decreased their price objective 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. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of Hold and an average target price of $62.56.

Insider Buying and Selling at BlackLine

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