BlackLine, Inc. (NASDAQ:BL) to Post Q2 2024 Earnings of $0.27 Per Share, William Blair Forecasts

BlackLine, Inc. (NASDAQ:BL) – Equities research analysts at William Blair issued their Q2 2024 earnings estimates for BlackLine in a note issued to investors on Tuesday, May 7th. William Blair analyst J. Roberge anticipates that the technology company will post earnings of $0.27 per share for the quarter. William Blair has a “Market Perform” rating on the stock. The consensus estimate for BlackLine’s current full-year earnings is $1.02 per share. William Blair also issued estimates for BlackLine’s Q3 2024 earnings at $0.32 EPS, Q4 2024 earnings at $0.33 EPS, FY2024 earnings at $1.23 EPS and FY2025 earnings at $1.11 EPS.

BlackLine (NASDAQ:BL) last issued its quarterly earnings data 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 during 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%.

Several other analysts also recently commented on BL. Piper Sandler upgraded shares of BlackLine from an “underweight” rating to a “neutral” rating and upped their price target for the company from $55.00 to $62.00 in a research report on Tuesday, April 23rd. JMP Securities reiterated a “market outperform” rating and issued a $81.00 price target on shares of BlackLine in a research report on Wednesday, February 14th. BMO Capital Markets upped their price target on shares of BlackLine from $65.00 to $67.00 and gave the company a “market perform” rating in a research report on Wednesday. The Goldman Sachs Group boosted their price objective on shares of BlackLine from $49.00 to $54.00 and gave the company a “sell” rating in a research note on Tuesday, January 23rd. Finally, Wolfe Research began coverage on shares of BlackLine in a research note on Monday, March 18th. They issued a “peer perform” rating on the stock. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have issued a buy rating to the stock. According to MarketBeat, BlackLine has a consensus rating of “Hold” and a consensus target price of $64.10.

BlackLine Stock Down 0.9 %

BL stock opened at $58.99 on Friday. The company has a fifty day moving average price of $62.59 and a 200 day moving average price of $59.62. BlackLine has a 12 month low of $47.26 and a 12 month high of $69.31. The company has a market cap of $3.65 billion, a price-to-earnings ratio of 256.48, a price-to-earnings-growth ratio of 10.82 and a beta of 0.87. The company has a debt-to-equity ratio of 4.37, a current ratio of 2.19 and a quick ratio of 2.19.

Insider Transactions at BlackLine

In other BlackLine news, CRO Mark Woodhams sold 2,877 shares of the firm’s stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $58.00, for a total transaction of $166,866.00. Following the completion of the transaction, the executive now directly owns 104,682 shares in the company, valued at approximately $6,071,556. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other BlackLine news, Director Kevin B. Thompson sold 4,500 shares of the firm’s stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $57.50, for a total transaction of $258,750.00. Following the completion of the transaction, the director now directly owns 11,000 shares in the company, valued at approximately $632,500. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CRO Mark Woodhams sold 2,877 shares of the firm’s stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $58.00, for a total transaction of $166,866.00. Following the transaction, the executive now owns 104,682 shares of the company’s stock, valued at $6,071,556. The disclosure for this sale can be found here. Corporate insiders own 9.93% of the company’s stock.

Institutional Investors Weigh In On BlackLine

Hedge funds have recently modified their holdings of the company. CWM LLC boosted its stake in shares of BlackLine by 94.8% during the 4th quarter. CWM LLC now owns 452 shares of the technology company’s stock worth $28,000 after purchasing an additional 220 shares during the last quarter. YHB Investment Advisors Inc. acquired a new stake in shares of BlackLine in the first quarter worth approximately $33,000. CVA Family Office LLC acquired a new stake in shares of BlackLine in the fourth quarter worth approximately $38,000. Federated Hermes Inc. boosted its position in shares of BlackLine by 505.2% in the third quarter. Federated Hermes Inc. now owns 926 shares of the technology company’s stock worth $51,000 after acquiring an additional 773 shares during the last quarter. Finally, Operose Advisors LLC boosted its position in shares of BlackLine by 291.2% in the third quarter. Operose Advisors LLC now owns 978 shares of the technology company’s stock worth $54,000 after acquiring an additional 728 shares during the last quarter. 95.13% of the stock is owned by institutional investors and hedge funds.

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.