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 earnings per share guidance of 0.470-0.520 for the period, compared to the consensus earnings per share 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.

BlackLine Stock Up 1.5 %

Shares of BlackLine stock traded up $0.92 during trading on Friday, reaching $60.37. The company had a trading volume of 1,268,255 shares, compared to its average volume of 560,729. The company has a market cap of $3.75 billion, a price-to-earnings ratio of 61.60, a price-to-earnings-growth ratio of 14.36 and a beta of 0.90. BlackLine has a fifty-two week low of $43.37 and a fifty-two week high of $69.31. The firm’s fifty day moving average is $53.91 and its 200-day moving average is $51.65. The company has a debt-to-equity ratio of 2.74, a quick ratio of 1.95 and a current ratio of 1.95.

Wall Street Analyst Weigh In

BL has been the subject of a number of research analyst reports. 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. Robert W. Baird reduced their price target on BlackLine from $72.00 to $65.00 and set an “outperform” rating for the company in a research report on Wednesday, August 7th. BTIG Research lowered their price target on BlackLine from $71.00 to $65.00 and set a “buy” rating on the stock in a report on Wednesday, August 7th. JMP Securities reiterated a “market outperform” rating and issued a $81.00 target price on shares of BlackLine in a research report on Monday, July 15th. Finally, Truist Financial increased their price target on BlackLine from $45.00 to $55.00 and gave the company a “hold” rating in a research note on Thursday, October 31st. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, BlackLine has a consensus rating of “Hold” and an average price target of $62.10.

Insider Activity

In other BlackLine news, CRO Mark Woodhams sold 1,387 shares of the business’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 owns 97,582 shares in the company, valued at $5,044,989.40. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, CRO Mark Woodhams sold 1,387 shares of the company’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $51.70, for a total value of $71,707.90. Following the completion of the sale, the executive now directly owns 97,582 shares in the company, valued at approximately $5,044,989.40. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Mark Partin sold 85,308 shares of the firm’s stock in a transaction dated 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 transaction, the chief financial officer now owns 226,844 shares in the company, valued at approximately $12,440,124.96. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 140,873 shares of company stock worth $7,840,243 in the last 90 days. Company insiders own 9.93% 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.