BlackLine (NASDAQ:BL) Issues 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 (EPS) guidance of 0.470-0.520 for the period, compared to the consensus 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.

Analyst Ratings Changes

BL has been the subject of several research reports. Piper Sandler raised their price objective on BlackLine from $51.00 to $60.00 and gave the stock a “neutral” rating in a research note on Friday. BTIG Research dropped their price target on BlackLine from $71.00 to $65.00 and set a “buy” rating on the stock in a research note on Wednesday, August 7th. JPMorgan Chase & Co. upped their price objective on shares of BlackLine from $47.00 to $50.00 and gave the company an “underweight” rating in a research note on Friday, October 25th. Morgan Stanley upgraded shares of BlackLine from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $60.00 to $70.00 in a report on Monday, September 30th. Finally, Robert W. Baird cut their price target 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 research analysts have rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $62.10.

BlackLine Stock Up 1.5 %

BL stock traded up $0.92 during trading hours on Friday, hitting $60.37. The company’s stock had a trading volume of 1,268,255 shares, compared to its average volume of 560,729. The company has a market capitalization of $3.75 billion, a PE ratio of 61.60, a price-to-earnings-growth ratio of 14.36 and a beta of 0.90. The stock has a 50 day moving average price of $53.91 and a two-hundred 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. BlackLine has a 12 month low of $43.37 and a 12 month high of $69.31.

Insider Activity

In other BlackLine news, CFO Mark Partin sold 5,648 shares of the stock in a transaction that occurred on Friday, September 27th. The stock was sold at an average price of $53.00, for a total transaction of $299,344.00. Following the transaction, the chief financial officer now owns 226,844 shares in the company, valued at $12,022,732. This trade 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 at the SEC website. In other BlackLine news, CFO Mark Partin sold 5,648 shares of the company’s stock in a transaction dated Friday, September 27th. The shares were sold at an average price of $53.00, for a total transaction of $299,344.00. Following the completion of the sale, the chief financial officer now directly owns 226,844 shares in the company, valued at $12,022,732. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Karole Morgan-Prager sold 27,079 shares of the firm’s 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 directly owns 113,865 shares of the company’s stock, valued at approximately $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. In the last quarter, insiders have sold 140,873 shares of company stock valued at $7,840,243. 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.