BlackLine (NASDAQ:BL) Releases Q2 Earnings Guidance

BlackLine (NASDAQ:BL) issued an update on its second quarter earnings guidance on Tuesday morning. The company provided EPS guidance of $0.49-0.51 for the period, compared to the consensus EPS 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.

BlackLine Price Performance

BL traded down $0.63 on Thursday, reaching $58.88. The company had a trading volume of 523,063 shares, compared to its average volume of 886,532. BlackLine has a one year low of $47.26 and a one year high of $69.31. The company has a current ratio of 2.19, a quick ratio of 2.19 and a debt-to-equity ratio of 4.37. The company has a fifty day moving average of $62.55 and a 200-day moving average of $59.63. The company has a market capitalization of $3.64 billion, a P/E ratio of 259.09, a PEG ratio of 10.82 and a beta of 0.87.

BlackLine (NASDAQ:BL) last released its earnings results on Tuesday, February 13th. The technology company reported $0.54 earnings per share for the quarter, topping the consensus estimate of $0.26 by $0.28. The business had revenue of $155.73 million for the quarter, compared to the consensus estimate of $154.24 million. BlackLine had a negative net margin of 1.50% and a positive return on equity of 2.15%. As a group, equities research analysts anticipate that BlackLine will post 1.02 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. BMO Capital Markets upped their price objective on shares of BlackLine from $65.00 to $67.00 and gave the stock a market perform rating in a report on Wednesday. Citigroup decreased their price objective on BlackLine from $66.00 to $63.00 and set a neutral rating on the stock in a report on Tuesday, April 23rd. William Blair lowered BlackLine from an outperform rating to a market perform rating in a research note on Wednesday, February 14th. JMP Securities reissued a market outperform rating and issued a $81.00 price target on shares of BlackLine in a report on Wednesday, February 14th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of BlackLine from $55.00 to $52.00 and set an underweight rating for the company in a report on Wednesday, February 14th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, BlackLine currently has an average rating of Hold and a consensus target price of $64.10.

Insider Activity

In other news, Director Kevin B. Thompson sold 4,500 shares of the stock in a transaction on 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 of the company’s stock, valued at approximately $632,500. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, Director Kevin B. Thompson sold 4,500 shares of the stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $57.50, for a total transaction of $258,750.00. Following the transaction, the director now directly owns 11,000 shares of the company’s stock, valued at $632,500. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CRO Mark Woodhams sold 2,877 shares of the business’s stock in a transaction that occurred on Wednesday, May 1st. The stock was 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 in the company, valued at approximately $6,071,556. The disclosure for this sale can be found here. 9.93% of the stock is currently owned by 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.