BlackLine (NASDAQ:BL) Releases Q4 2024 Earnings Guidance

BlackLine (NASDAQ:BL) updated its fourth quarter 2024 earnings guidance on Thursday. 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.

BlackLine Stock Performance

BL stock traded up $0.92 on Friday, hitting $60.37. The company had a trading volume of 1,268,255 shares, compared to its average volume of 560,729. The stock has a market cap of $3.75 billion, a price-to-earnings ratio of 61.60, a P/E/G ratio of 14.36 and a beta of 0.90. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 2.74. The stock’s 50-day simple moving average is $53.91 and its 200 day simple moving average is $51.65. BlackLine has a 12-month low of $43.37 and a 12-month high of $69.31.

Wall Street Analysts Forecast Growth

BL has been the subject of several analyst reports. Morgan Stanley raised shares of 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 report on Monday, September 30th. BTIG Research dropped their price target on shares of BlackLine from $71.00 to $65.00 and set a “buy” rating for the company in a research report on Wednesday, August 7th. JPMorgan Chase & Co. lifted their target price on shares of BlackLine from $47.00 to $50.00 and gave the company an “underweight” rating in a research note 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. Finally, Piper Sandler upped their price objective on BlackLine from $51.00 to $60.00 and gave the stock a “neutral” rating in a research note on Friday. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, BlackLine currently has a consensus rating of “Hold” and a consensus target price of $62.10.

Insider Transactions at BlackLine

In other BlackLine news, CRO Mark Woodhams sold 1,387 shares of the 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 completion of the transaction, the executive now owns 97,582 shares in the company, valued at $5,044,989.40. This trade 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 through this link. In other news, CRO Mark Woodhams sold 1,387 shares of BlackLine stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $51.70, for a total value of $71,707.90. Following the completion of 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 sale, the director now owns 6,777 shares in the company, valued at $352,471.77. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 140,873 shares of company stock valued at $7,840,243 in the last ninety days. Corporate 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.