BlackLine (NASDAQ:BL) Updates Q4 2024 Earnings Guidance

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

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on BL shares. BTIG Research decreased their price target on BlackLine from $71.00 to $65.00 and set a “buy” rating for the company in a research note on Wednesday, August 7th. JMP Securities reissued a “market outperform” rating and set a $81.00 target price on shares of BlackLine in a research note on Monday, July 15th. JPMorgan Chase & Co. upped their price objective on BlackLine from $47.00 to $50.00 and gave the company an “underweight” rating in a research note on Friday, October 25th. Truist Financial upped their price objective on shares of BlackLine from $45.00 to $55.00 and gave the company a “hold” rating in a report on Thursday, October 31st. Finally, Robert W. Baird lowered their target price on shares of BlackLine from $72.00 to $65.00 and set an “outperform” rating on the stock in a report on Wednesday, August 7th. Two 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 a consensus target price of $62.10.

BlackLine Price Performance

Shares of NASDAQ BL traded up $0.92 during mid-day trading on Friday, reaching $60.37. 1,268,255 shares of the company were exchanged, compared to its average volume of 560,729. 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 company’s 50 day moving average price is $53.91 and its 200 day moving average price is $51.65. BlackLine has a 52 week low of $43.37 and a 52 week high of $69.31. The stock has a market capitalization of $3.75 billion, a PE ratio of 61.60, a PEG ratio of 14.36 and a beta of 0.90.

Insider Activity

In other news, Director Barbara Whye sold 5,378 shares of the stock in a transaction 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 sale, the director now directly owns 6,777 shares of the company’s stock, valued at approximately $352,471.77. This represents 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. In other news, Director Barbara Whye sold 5,378 shares of the company’s stock in a transaction on 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 of the company’s stock, valued at $352,471.77. 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 available through the SEC website. Also, insider Karole Morgan-Prager sold 27,079 shares of BlackLine 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. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 140,873 shares of company stock worth $7,840,243. 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.