BlackLine (NASDAQ:BL) Releases Q4 2021 Earnings Guidance

BlackLine (NASDAQ:BL) issued an update on its fourth quarter 2021 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $0.090-$0.120 for the period, compared to the Thomson Reuters consensus estimate of $0.090. The company issued revenue guidance of $113 million-$114 million, compared to the consensus revenue estimate of $113.58 million.BlackLine also updated its FY 2021 guidance to $0.590-$0.620 EPS.

BL stock traded down $2.78 during midday 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 firm has a market cap of $6.59 billion, a P/E ratio of -68.46 and a beta of 0.83. The company has a current ratio of 5.08, a quick ratio of 5.08 and a debt-to-equity ratio of 3.22. BlackLine has a 1-year low of $98.06 and a 1-year high of $154.61. The business has a fifty day moving average price of $122.49 and a two-hundred day moving average price of $114.60.

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

BL has been the subject of several research analyst reports. Oppenheimer lifted their price target on shares of BlackLine from $130.00 to $140.00 and gave the company an outperform rating in a research note on Friday, November 5th. Zacks Investment Research raised shares of BlackLine from a sell rating to a hold rating in a research note on Wednesday, November 3rd. Piper Sandler decreased their price target on shares of BlackLine from $158.00 to $155.00 and set an overweight rating for the company in a research note on Friday, November 5th. Finally, BTIG Research reaffirmed a buy rating and issued a $149.00 price target on shares of BlackLine in a research note on Friday, November 5th. Three research 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 presently has a consensus rating of Buy and an average price target of $142.67.

In other BlackLine news, insider Therese Tucker sold 10,000 shares of the company’s stock in a transaction dated Tuesday, August 31st. The shares were sold at an average price of $109.20, for a total value of $1,092,000.00. Following the completion of the sale, the insider now directly owns 156,223 shares of the company’s stock, valued at approximately $17,059,551.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CRO Mark Woodhams sold 23,334 shares of the business’s stock in a transaction dated Wednesday, November 24th. The shares were sold at an average price of $112.50, for a total transaction of $2,625,075.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 325,045 shares of company stock valued at $39,345,018. 10.07% of the stock is currently owned by 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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