BlackLine (NASDAQ:BL) Releases 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.

Analysts Set New Price Targets

Several research firms recently weighed in on BL. Truist Financial lifted their price target on BlackLine from $45.00 to $55.00 and gave the stock a “hold” rating in a report on Thursday, October 31st. JPMorgan Chase & Co. increased their price target on shares of BlackLine from $47.00 to $50.00 and gave the stock an “underweight” rating in a research report on Friday, October 25th. JMP Securities restated a “market outperform” rating and set a $81.00 price objective on shares of BlackLine in a research report on Monday, July 15th. Robert W. Baird reduced their target price on BlackLine from $72.00 to $65.00 and set an “outperform” rating on the stock in a report on Wednesday, August 7th. Finally, BTIG Research lowered their price target on BlackLine from $71.00 to $65.00 and set a “buy” rating for the company in a report on Wednesday, August 7th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $61.20.

BlackLine Trading Up 1.4 %

Shares of BlackLine stock traded up $0.82 during midday trading on Thursday, reaching $59.45. The company had a trading volume of 1,287,508 shares, compared to its average volume of 546,885. The company has a debt-to-equity ratio of 2.74, a current ratio of 1.95 and a quick ratio of 1.95. BlackLine has a fifty-two week low of $43.37 and a fifty-two week high of $69.31. The stock has a fifty day moving average price of $53.50 and a 200 day moving average price of $51.65. The firm has a market cap of $3.70 billion, a PE ratio of 66.06, a P/E/G ratio of 13.50 and a beta of 0.90.

BlackLine (NASDAQ:BL) last posted its quarterly earnings data on Tuesday, August 6th. The technology company reported $0.58 earnings per share for the quarter, topping the consensus estimate of $0.50 by $0.08. BlackLine had a net margin of 19.46% and a return on equity of 33.96%. The company had revenue of $160.51 million during the quarter, compared to analysts’ expectations of $158.21 million. During the same period in the prior year, the company posted ($0.69) earnings per share. BlackLine’s revenue for the quarter was up 11.0% compared to the same quarter last year. On average, equities analysts anticipate that BlackLine will post 0.96 earnings per share for the current year.

Insider Buying and Selling at BlackLine

In related news, Director Barbara Whye sold 5,378 shares of the business’s stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $52.01, for a total transaction of $279,709.78. Following the transaction, 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other BlackLine news, Director Barbara Whye sold 5,378 shares of the stock in a transaction that occurred 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 transaction, the director now owns 6,777 shares in the company, valued at approximately $352,471.77. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Karole Morgan-Prager sold 27,079 shares of the stock in a transaction on Friday, October 18th. The stock was sold at an average price of $60.06, for a total value of $1,626,364.74. Following the completion of the transaction, the insider now owns 113,865 shares in the company, valued at approximately $6,838,731.90. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 140,873 shares of company stock valued at $7,840,243. 9.53% of the stock is currently owned by insiders.

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.