BlackLine (NASDAQ:BL) Updates FY 2024 Earnings Guidance

BlackLine (NASDAQ:BL) issued an update on its FY 2024 earnings guidance on Thursday morning. The company provided earnings per share guidance of 2.150-2.210 for the period, compared to the consensus earnings per share estimate of 2.140. The company issued revenue guidance of $651.0 million-$653.0 million, compared to the consensus revenue estimate of $649.1 million. BlackLine also updated its Q4 2024 guidance to 0.470-0.520 EPS.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. JPMorgan Chase & Co. boosted their price target on BlackLine from $47.00 to $50.00 and gave the company an “underweight” rating in a report on Friday, October 25th. JMP Securities reissued a “market outperform” rating and set a $81.00 price target on shares of BlackLine in a report on Monday, July 15th. Morgan Stanley upgraded shares of BlackLine from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $60.00 to $70.00 in a research report on Monday, September 30th. Truist Financial raised their target price on BlackLine from $45.00 to $55.00 and gave the company a “hold” rating in a research report on Thursday, October 31st. Finally, Robert W. Baird lowered their price target on BlackLine from $72.00 to $65.00 and set an “outperform” rating on the stock in a research report on Wednesday, August 7th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $62.10.

BlackLine Trading Up 1.5 %

Shares of BlackLine stock traded up $0.92 during mid-day trading on Friday, hitting $60.37. The stock had a trading volume of 1,268,255 shares, compared to its average volume of 560,729. The firm has a market cap of $3.75 billion, a P/E ratio of 61.60, a price-to-earnings-growth 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. The firm has a 50-day moving average of $53.91 and a two-hundred day moving average of $51.65. BlackLine has a 12-month low of $43.37 and a 12-month high of $69.31.

Insider Buying and Selling at BlackLine

In other BlackLine news, Director Barbara Whye sold 5,378 shares of the company’s stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $52.01, for a total transaction of $279,709.78. Following the transaction, the director now directly owns 6,777 shares in the company, valued at $352,471.77. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other BlackLine news, CFO Mark Partin sold 85,308 shares of the business’s stock in a transaction on Monday, September 30th. The shares were sold at an average price of $54.84, for a total value of $4,678,290.72. Following the completion of the transaction, the chief financial officer now owns 226,844 shares in the company, valued at $12,440,124.96. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Barbara Whye sold 5,378 shares of the company’s stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $52.01, for a total value of $279,709.78. Following the sale, the director now directly owns 6,777 shares in the company, valued at $352,471.77. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 140,873 shares of company stock worth $7,840,243 over the last three months. 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.