BlackLine (NASDAQ:BL) Updates Q4 2021 Earnings Guidance

BlackLine (NASDAQ:BL) updated its fourth quarter 2021 earnings guidance on Thursday. The company provided earnings per share guidance of $0.090-$0.120 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $0.090. The company issued revenue guidance of $113 million-$114 million, compared to the consensus revenue estimate of $113.58 million.BlackLine also updated its FY 2021 guidance to $0.590-$0.620 EPS.

Several equities research analysts have weighed in on the stock. Piper Sandler dropped their price target on shares of BlackLine from $158.00 to $155.00 and set an overweight rating for the company in a research report on Friday, November 5th. Oppenheimer raised their target price on shares of BlackLine from $130.00 to $140.00 and gave the stock an outperform rating in a research report on Friday, November 5th. BTIG Research reaffirmed a buy rating and issued a $149.00 target price on shares of BlackLine in a research report on Friday, November 5th. Finally, Zacks Investment Research raised shares of BlackLine from a sell rating to a hold rating in a research report on Wednesday, November 3rd. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, BlackLine has an average rating of Buy and a consensus price target of $142.67.

Shares of NASDAQ:BL traded down $2.78 on Thursday, hitting $112.28. The company had a trading volume of 441,089 shares, compared to its average volume of 483,489. BlackLine has a 1 year low of $98.06 and a 1 year high of $154.61. The firm has a market capitalization of $6.59 billion, a price-to-earnings ratio of -68.46 and a beta of 0.83. The firm’s 50-day simple moving average is $122.49 and its two-hundred day simple moving average is $114.60. The company has a quick ratio of 5.08, a current ratio of 5.08 and a debt-to-equity ratio of 3.22.

BlackLine (NASDAQ:BL) last issued its quarterly earnings results on Thursday, November 4th. The technology company reported $0.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.11 by $0.13. BlackLine had a negative net margin of 23.43% and a negative return on equity of 4.02%. The company had revenue of $109.40 million during the quarter, compared to analysts’ expectations of $107.06 million. During the same period last year, the company posted $0.02 EPS. BlackLine’s revenue was up 21.3% on a year-over-year basis. Equities research analysts anticipate that BlackLine will post -0.45 EPS for the current year.

In other BlackLine news, insider Therese Tucker sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, August 31st. The shares were sold at an average price of $109.20, for a total transaction of $1,092,000.00. Following the completion of the sale, the insider now directly owns 156,223 shares in the company, valued at approximately $17,059,551.60. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CRO Mark Woodhams sold 23,334 shares of the firm’s stock in a transaction dated Wednesday, November 24th. The shares were sold at an average price of $112.50, for a total transaction of $2,625,075.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 325,045 shares of company stock valued at $39,345,018. 10.07% of the stock is currently owned by corporate insiders.

About BlackLine

BlackLine, Inc operates a cloud-based software platform which is designed to transform accounting and finance operations for organizations of all types and sizes. Its scalable platform supports critical accounting processes such as the financial close, account reconciliations, intercompany accounting, and controls assurance.

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Earnings History and Estimates for BlackLine (NASDAQ:BL)

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