BlackLine (NASDAQ:BL) Issues Q4 2024 Earnings Guidance

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

BlackLine Trading Up 1.5 %

NASDAQ:BL traded up $0.92 on Friday, hitting $60.37. 1,268,255 shares of the stock were exchanged, compared to its average volume of 560,729. The stock 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. 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 company’s 50-day moving average price is $53.91 and its 200 day moving average price is $51.65.

Analysts Set New Price Targets

BL has been the subject of a number of analyst reports. Robert W. Baird lowered their target price on shares of BlackLine from $72.00 to $65.00 and set an “outperform” rating for the company in a report on Wednesday, August 7th. JMP Securities reiterated a “market outperform” rating and issued a $81.00 price objective on shares of BlackLine in a report on Monday, July 15th. BTIG Research decreased their target price on BlackLine from $71.00 to $65.00 and set a “buy” rating for the company in a research report on Wednesday, August 7th. Truist Financial increased their price target on shares of BlackLine from $45.00 to $55.00 and gave the company a “hold” rating in a research report on Thursday, October 31st. Finally, JPMorgan Chase & Co. upped their target price 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. Two equities 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 company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $62.10.

Insider Buying and Selling

In other 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 value of $279,709.78. Following the completion of 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other 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 value of $1,626,364.74. Following the completion of the transaction, the insider now owns 113,865 shares of the company’s stock, 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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Barbara Whye sold 5,378 shares of the 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 directly owns 6,777 shares of the company’s stock, valued at approximately $352,471.77. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 140,873 shares of company stock valued at $7,840,243 over the last 90 days. 9.93% of the stock is owned by corporate 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.