BlackLine (NASDAQ:BL) Issues FY 2024 Earnings Guidance

BlackLine (NASDAQ:BL) issued an update on its FY 2024 earnings guidance on Thursday morning. The company provided earnings per share guidance of 2.150-2.210 for the period, compared to the consensus earnings per share estimate of 2.140. The company issued revenue guidance of $651.0 million-$653.0 million, compared to the consensus revenue estimate of $649.1 million. BlackLine also updated its Q4 2024 guidance to 0.470-0.520 EPS.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on BL. Truist Financial boosted their price target on BlackLine from $45.00 to $55.00 and gave the stock a “hold” rating in a research report on Thursday, October 31st. JPMorgan Chase & Co. lifted their price target on BlackLine from $47.00 to $50.00 and gave the stock an “underweight” rating in a report on Friday, October 25th. Piper Sandler raised their price objective on BlackLine from $51.00 to $60.00 and gave the company a “neutral” rating in a research report on Friday. JMP Securities reissued a “market outperform” rating and set a $81.00 target price on shares of BlackLine in a report on Monday, July 15th. Finally, Morgan Stanley raised shares of BlackLine from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $60.00 to $70.00 in a research report on Monday, September 30th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $62.10.

BlackLine Trading Up 1.5 %

Shares of BlackLine stock traded up $0.92 on Friday, reaching $60.37. 1,268,255 shares of the company’s stock were exchanged, compared to its average volume of 560,729. The company has a debt-to-equity ratio of 2.74, a quick ratio of 1.95 and a current ratio of 1.95. BlackLine has a 52 week low of $43.37 and a 52 week high of $69.31. The firm’s 50-day moving average is $53.91 and its two-hundred day moving average is $51.65. The company has a market capitalization of $3.75 billion, a P/E ratio of 61.60, a price-to-earnings-growth ratio of 14.36 and a beta of 0.90.

Insider Buying and Selling at BlackLine

In other BlackLine news, insider Karole Morgan-Prager sold 27,079 shares of the company’s stock in a transaction dated Friday, October 18th. The shares were 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 directly owns 113,865 shares of the company’s stock, valued at approximately $6,838,731.90. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, insider Karole Morgan-Prager sold 27,079 shares of the stock in a transaction dated Friday, October 18th. The shares were sold at an average price of $60.06, for a total transaction 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Mark Partin sold 85,308 shares of BlackLine stock in a transaction dated Monday, September 30th. The stock was sold at an average price of $54.84, for a total transaction of $4,678,290.72. Following the completion of the sale, the chief financial officer now directly owns 226,844 shares in the company, valued at approximately $12,440,124.96. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 140,873 shares of company stock worth $7,840,243. Insiders own 9.93% of the company’s stock.

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.