BlackLine (NASDAQ:BL) Issues FY24 Earnings Guidance

BlackLine (NASDAQ:BL) issued an update on its FY24 earnings guidance on Tuesday morning. The company provided EPS guidance of $2.12-2.26 for the period, compared to the consensus EPS 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.

Analysts Set New Price Targets

BL has been the subject of several analyst reports. JPMorgan Chase & Co. dropped their target price on shares of BlackLine from $55.00 to $52.00 and set an underweight rating for the company in a research report on Wednesday, February 14th. The Goldman Sachs Group raised their target price on BlackLine from $49.00 to $54.00 and gave the company a sell rating in a report on Tuesday, January 23rd. Wolfe Research initiated coverage on BlackLine in a report on Monday, March 18th. They set a peer perform rating for the company. Citigroup reduced their price objective on BlackLine from $66.00 to $63.00 and set a neutral rating on the stock in a research note on Tuesday, April 23rd. Finally, JMP Securities reissued a market outperform rating and issued a $81.00 target price on shares of BlackLine in a report on Wednesday, February 14th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of Hold and an average price target of $62.56.

BlackLine Trading Down 0.5 %

BlackLine stock traded down $0.28 during mid-day trading on Tuesday, hitting $60.43. 676,980 shares of the stock were exchanged, compared to its average volume of 887,072. The stock has a market capitalization of $3.73 billion, a price-to-earnings ratio of -604.30, a PEG ratio of 10.82 and a beta of 0.87. BlackLine has a 12 month low of $47.26 and a 12 month high of $69.31. The company has a quick ratio of 2.19, a current ratio of 2.19 and a debt-to-equity ratio of 4.37. The firm’s fifty day simple moving average is $62.42 and its two-hundred day simple moving average is $59.58.

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

Insider Transactions at BlackLine

In other news, CRO Mark Woodhams sold 2,877 shares of the company’s stock in a transaction on Wednesday, May 1st. The shares were 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 approximately $6,071,556. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, CRO Mark Woodhams sold 2,877 shares of the stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $58.00, for a total transaction of $166,866.00. Following the completion of the sale, the executive now directly owns 104,682 shares of the company’s stock, valued at $6,071,556. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Kevin B. Thompson sold 4,500 shares of the firm’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 directly owns 11,000 shares of the company’s stock, valued at $632,500. 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.