BlackLine (NASDAQ:BL) Updates FY 2022 Earnings Guidance

BlackLine (NASDAQ:BL – Get Rating) updated its FY 2022 earnings guidance on Monday. The company provided earnings per share (EPS) guidance of $0.08-$0.11 for the period, compared to the consensus estimate of $0.09. The company issued revenue guidance of $524.00 million-$528.00 million, compared to the consensus revenue estimate of $522.58 million.BlackLine also updated its Q2 2022 guidance to 0-$0.01 EPS.

Several research analysts have recently issued reports on BL shares. TheStreet lowered BlackLine from a c- rating to a d+ rating in a research report on Friday, February 11th. Piper Sandler reduced their target price on BlackLine from $130.00 to $112.00 and set an overweight rating for the company in a report on Friday, February 11th. Robert W. Baird reduced their target price on BlackLine from $105.00 to $95.00 in a report on Friday. BMO Capital Markets began coverage on BlackLine in a research report on Tuesday, February 1st. They set a market perform rating and a $92.00 target price on the stock. Finally, BTIG Research lowered their target price on BlackLine from $115.00 to $95.00 in a research report on Friday. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, BlackLine presently has a consensus rating of Buy and a consensus price target of $102.56.

NASDAQ BL traded down $4.31 on Monday, reaching $56.63. The stock had a trading volume of 8,352 shares, compared to its average volume of 618,872. The stock has a fifty day moving average price of $70.31 and a two-hundred day moving average price of $90.81. The firm has a market capitalization of $3.35 billion, a price-to-earnings ratio of -38.62 and a beta of 0.91. The company has a quick ratio of 4.18, a current ratio of 4.18 and a debt-to-equity ratio of 3.43. BlackLine has a 12-month low of $59.60 and a 12-month high of $135.00.

BlackLine (NASDAQ:BL – Get Rating) last released its quarterly earnings data on Thursday, May 5th. The technology company reported $0.01 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.08) by $0.09. The company had revenue of $120.24 million during the quarter, compared to the consensus estimate of $119.57 million. BlackLine had a negative net margin of 19.28% and a negative return on equity of 9.89%. BlackLine’s revenue for the quarter was up 21.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.14) earnings per share. Sell-side analysts forecast that BlackLine will post -1.14 earnings per share for the current fiscal year.

In related news, CTO Peter Hirsch sold 3,427 shares of the business’s stock in a transaction that occurred on Tuesday, February 22nd. The shares were sold at an average price of $71.13, for a total value of $243,762.51. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Thomas Unterman sold 500 shares of the business’s stock in a transaction that occurred on Tuesday, February 22nd. The shares were sold at an average price of $71.13, for a total transaction of $35,565.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 4,927 shares of company stock worth $349,413. 9.71% of the stock is owned by company insiders.

A number of large investors have recently modified their holdings of the business. Synovus Financial Corp grew its stake in shares of BlackLine by 3.6% during the 4th quarter. Synovus Financial Corp now owns 4,990 shares of the technology company’s stock worth $512,000 after acquiring an additional 174 shares in the last quarter. Legal & General Group Plc raised its stake in BlackLine by 1.1% during the fourth quarter. Legal & General Group Plc now owns 46,397 shares of the technology company’s stock worth $4,804,000 after acquiring an additional 525 shares in the last quarter. NEXT Financial Group Inc grew its holdings in shares of BlackLine by 14.8% during the fourth quarter. NEXT Financial Group Inc now owns 4,679 shares of the technology company’s stock worth $485,000 after purchasing an additional 604 shares during the last quarter. Bank Julius Baer & Co. Ltd Zurich bought a new stake in shares of BlackLine during the fourth quarter worth about $88,000. Finally, Silvercrest Asset Management Group LLC boosted its holdings in BlackLine by 15.9% in the fourth quarter. Silvercrest Asset Management Group LLC now owns 6,660 shares of the technology company’s stock valued at $690,000 after acquiring an additional 915 shares during the last quarter.

BlackLine Company Profile (Get Rating)

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 high volumes of individual transactions; and task management to create and manage processes and task lists.

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