BlackLine (NASDAQ:BL) Releases Q2 Earnings Guidance

BlackLine (NASDAQ:BL) updated its second quarter earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of $0.49-0.51 for the period, compared to the consensus estimate of $0.50. The company issued revenue guidance of $157-159 million, compared to the consensus revenue estimate of $158.50 million. BlackLine also updated its FY24 guidance to $2.12-2.26 EPS.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on BL shares. Wolfe Research assumed coverage on shares of BlackLine in a research report on Monday, March 18th. They set a peer perform rating on the stock. Citigroup decreased their price objective on shares of BlackLine from $66.00 to $63.00 and set a neutral rating for the company in a research note on Tuesday, April 23rd. BMO Capital Markets upped their target price on BlackLine from $65.00 to $67.00 and gave the company a market perform rating in a research note on Wednesday. Piper Sandler upgraded BlackLine from an underweight rating to a neutral rating and boosted their price objective for the company from $55.00 to $62.00 in a report on Tuesday, April 23rd. Finally, Robert W. Baird increased their target price on BlackLine from $61.00 to $72.00 and gave the stock an outperform rating in a research note on Wednesday. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of Hold and an average target price of $64.10.

BlackLine Stock Down 1.2 %

NASDAQ BL traded down $0.68 during trading on Friday, hitting $58.31. The company’s stock had a trading volume of 112,537 shares, compared to its average volume of 881,669. The company has a market cap of $3.60 billion, a PE ratio of 256.48, a P/E/G ratio of 10.82 and a beta of 0.87. The company has a debt-to-equity ratio of 4.37, a current ratio of 2.19 and a quick ratio of 2.19. The business’s 50 day simple moving average is $62.59 and its 200-day simple moving average is $59.62. BlackLine has a fifty-two week low of $47.26 and a fifty-two week high of $69.31.

BlackLine (NASDAQ:BL) last issued its quarterly earnings results on Tuesday, February 13th. The technology company reported $0.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.26 by $0.28. The business had revenue of $155.73 million for the quarter, compared to analyst estimates of $154.24 million. BlackLine had a negative net margin of 1.50% and a positive return on equity of 2.15%. On average, equities analysts anticipate that BlackLine will post 1.02 EPS for the current fiscal year.

Insider Activity

In related news, CRO Mark Woodhams sold 2,877 shares of the business’s stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $58.00, for a total transaction of $166,866.00. Following the completion of the transaction, the executive now directly owns 104,682 shares in the company, valued at $6,071,556. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other BlackLine news, CRO Mark Woodhams sold 2,877 shares of BlackLine stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $58.00, for a total value of $166,866.00. Following the completion of the transaction, the executive now owns 104,682 shares of the company’s stock, valued at $6,071,556. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Kevin B. Thompson sold 4,500 shares of the stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $57.50, for a total transaction of $258,750.00. Following the sale, the director now directly owns 11,000 shares in the company, valued at $632,500. The disclosure for this sale can be found here. 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.