BlackLine (NASDAQ:BL) Issues Q4 2024 Earnings Guidance

BlackLine (NASDAQ:BL) issued an update on its fourth quarter 2024 earnings guidance on Thursday morning. The company provided EPS guidance of 0.470-0.520 for the period, compared to the consensus EPS estimate of 0.510. The company issued revenue guidance of $167.0 million-$169.0 million, compared to the consensus revenue estimate of $168.1 million. BlackLine also updated its FY 2024 guidance to 2.150-2.210 EPS.

Analyst Upgrades and Downgrades

Several analysts have commented on BL shares. Truist Financial upped their price objective on BlackLine from $45.00 to $55.00 and gave the company a “hold” rating in a research note on Thursday, October 31st. BTIG Research dropped their price objective on shares of BlackLine from $71.00 to $65.00 and set a “buy” rating on the stock in a research note on Wednesday, August 7th. Piper Sandler boosted their price target on shares of BlackLine from $51.00 to $60.00 and gave the stock a “neutral” rating in a research note on Friday. JMP Securities reaffirmed a “market outperform” rating and issued a $81.00 price objective on shares of BlackLine in a report on Monday, July 15th. Finally, Morgan Stanley raised BlackLine from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $60.00 to $70.00 in a research note on Monday, September 30th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, BlackLine presently has an average rating of “Hold” and an average target price of $62.10.

BlackLine Trading Up 1.5 %

Shares of BL traded up $0.92 during mid-day trading on Friday, hitting $60.37. The company had a trading volume of 1,268,255 shares, compared to its average volume of 560,729. BlackLine has a 1-year low of $43.37 and a 1-year high of $69.31. The business’s 50-day simple moving average is $53.91 and its 200-day simple moving average is $51.65. The stock has a market cap of $3.75 billion, a PE ratio of 61.60, a P/E/G ratio of 14.36 and a beta of 0.90. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 2.74.

Insider Activity

In other news, CRO Mark Woodhams sold 1,387 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $51.70, for a total value of $71,707.90. Following the transaction, the executive now directly owns 97,582 shares in the company, valued at $5,044,989.40. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, CRO Mark Woodhams sold 1,387 shares of BlackLine stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $51.70, for a total transaction of $71,707.90. Following the transaction, the executive now owns 97,582 shares in the company, valued at approximately $5,044,989.40. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Barbara Whye sold 5,378 shares of the stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $52.01, for a total value of $279,709.78. Following the completion of the sale, the director now owns 6,777 shares of the company’s stock, valued at approximately $352,471.77. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 140,873 shares of company stock valued at $7,840,243 in the last ninety days. Company insiders own 9.93% of the company’s stock.

About BlackLine

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.