BlackLine (NASDAQ:BL) Releases FY 2021 Earnings Guidance

BlackLine (NASDAQ:BL) issued an update on its FY 2021 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $0.590-$0.620 for the period, compared to the Thomson Reuters consensus estimate of $0.470. The company issued revenue guidance of $423.50 million-$424.50 million, compared to the consensus revenue estimate of $422.05 million.BlackLine also updated its Q4 2021 guidance to $0.090-$0.120 EPS.

A number of analysts recently issued reports on the company. BTIG Research reissued a buy rating and set a $149.00 price objective on shares of BlackLine in a research report on Friday, November 5th. Piper Sandler cut their price objective on BlackLine from $158.00 to $155.00 and set an overweight rating for the company in a research report on Friday, November 5th. Oppenheimer raised their price objective on BlackLine from $130.00 to $140.00 and gave the stock an outperform rating in a research report on Friday, November 5th. Finally, Zacks Investment Research raised BlackLine from a sell rating to a hold rating in a research report on Wednesday, November 3rd. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of Buy and a consensus target price of $142.67.

NASDAQ BL traded down $2.78 during trading on Thursday, hitting $112.28. The stock had a trading volume of 441,089 shares, compared to its average volume of 483,489. The company has a market capitalization of $6.59 billion, a PE ratio of -68.46 and a beta of 0.83. The company has a quick ratio of 5.08, a current ratio of 5.08 and a debt-to-equity ratio of 3.22. The firm has a 50 day moving average price of $122.49 and a 200 day moving average price of $114.60. BlackLine has a twelve month low of $98.06 and a twelve month high of $154.61.

BlackLine (NASDAQ:BL) last released its earnings results on Thursday, November 4th. The technology company reported $0.24 earnings per share for the quarter, beating the consensus estimate of $0.11 by $0.13. The company had revenue of $109.40 million during the quarter, compared to the consensus estimate of $107.06 million. BlackLine had a negative return on equity of 4.02% and a negative net margin of 23.43%. BlackLine’s revenue was up 21.3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.02 EPS. On average, sell-side analysts anticipate that BlackLine will post -0.45 earnings per share for the current year.

In other news, CTO Peter Hirsch sold 9,912 shares of the business’s stock in a transaction dated Friday, November 5th. The stock was sold at an average price of $131.85, for a total transaction of $1,306,897.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Marc Huffman sold 11,742 shares of the business’s stock in a transaction dated Friday, November 5th. The stock was sold at an average price of $130.00, for a total value of $1,526,460.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 325,045 shares of company stock valued at $39,345,018. 10.07% of the stock is currently owned by corporate insiders.

About BlackLine

BlackLine, Inc operates a cloud-based software platform which is designed to transform accounting and finance operations for organizations of all types and sizes. Its scalable platform supports critical accounting processes such as the financial close, account reconciliations, intercompany accounting, and controls assurance.

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Earnings History and Estimates for BlackLine (NASDAQ:BL)

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