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.

Wall Street Analyst Weigh In

BL has been the subject of several research analyst reports. JPMorgan Chase & Co. lifted their price objective on BlackLine from $47.00 to $50.00 and gave the company an “underweight” rating in a research report on Friday, October 25th. Truist Financial increased their price objective on shares of BlackLine from $45.00 to $55.00 and gave the stock a “hold” rating in a report on Thursday, October 31st. BTIG Research reduced their target price on shares of BlackLine from $71.00 to $65.00 and set a “buy” rating on the stock in a research report on Wednesday, August 7th. JMP Securities reissued a “market outperform” rating and issued 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 report on Friday. Two 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 stock. Based on data from MarketBeat.com, BlackLine currently has an average rating of “Hold” and an average target price of $62.10.

BlackLine Trading Up 1.5 %

Shares of BlackLine stock traded up $0.92 during trading on Friday, reaching $60.37. 1,268,255 shares of the company were exchanged, compared to its average volume of 560,729. BlackLine has a twelve month low of $43.37 and a twelve month high of $69.31. The business has a 50-day moving average price of $53.91 and a 200-day moving average price of $51.65. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 2.74. The firm has a market capitalization 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.

Insider Activity

In related news, Director Barbara Whye sold 5,378 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the director now owns 6,777 shares in the company, valued at approximately $352,471.77. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other BlackLine news, Director Barbara Whye sold 5,378 shares of BlackLine stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $52.01, for a total transaction of $279,709.78. Following the transaction, the director now directly owns 6,777 shares in the company, valued at approximately $352,471.77. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Karole Morgan-Prager sold 27,079 shares of the stock in a transaction dated 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 sale, the insider now owns 113,865 shares of the company’s stock, valued at $6,838,731.90. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 140,873 shares of company stock valued at $7,840,243 in the last ninety days. 9.93% of the stock is owned by insiders.

About BlackLine

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.