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 analysts have commented on the company. TheStreet downgraded BlackLine from a c- rating to a d+ rating in a research note on Friday, February 11th. Zacks Investment Research raised BlackLine from a hold rating to a buy rating and set a $58.00 price target for the company in a report on Thursday. Robert W. Baird dropped their price objective on shares of BlackLine from $105.00 to $95.00 in a research note on Friday, May 6th. Piper Sandler reduced their target price on shares of BlackLine from $130.00 to $112.00 and set an overweight rating for the company in a research note on Friday, February 11th. Finally, StockNews.com raised shares of BlackLine from a sell rating to a hold rating in a report on Friday, May 6th. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of Buy and an average target price of $96.22.
BL traded down $0.36 on Monday, hitting $58.19. 4,210 shares of the company were exchanged, compared to its average volume of 641,362. BlackLine has a fifty-two week low of $49.66 and a fifty-two week high of $135.00. The company has a debt-to-equity ratio of 20.88, a quick ratio of 4.18 and a current ratio of 3.45. The firm has a market capitalization of $3.45 billion, a P/E ratio of -39.50 and a beta of 0.91. The business’s fifty day moving average is $68.58 and its 200 day moving average is $88.38.
In other news, Director Thomas Unterman sold 500 shares of the business’s stock in a transaction on Monday, May 2nd. The stock was sold at an average price of $66.82, for a total value of $33,410.00. Following the completion of the transaction, the director now directly owns 45,801 shares of the company’s stock, valued at $3,060,422.82. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CTO Peter Hirsch sold 3,427 shares of the stock in a transaction on Tuesday, February 22nd. The shares were sold at an average price of $71.13, for a total value of $243,762.51. The disclosure for this sale can be found here. Insiders have sold a total of 4,927 shares of company stock valued at $349,413 in the last ninety days. Corporate insiders own 9.71% of the company’s stock.
Institutional investors and hedge funds have recently made changes to their positions in the stock. Barclays PLC increased its stake in BlackLine by 22.2% in the fourth quarter. Barclays PLC now owns 509,745 shares of the technology company’s stock valued at $52,778,000 after purchasing an additional 92,462 shares during the last quarter. First Trust Advisors LP increased its stake in shares of BlackLine by 10.5% during the 1st quarter. First Trust Advisors LP now owns 424,380 shares of the technology company’s stock valued at $31,073,000 after acquiring an additional 40,453 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of BlackLine by 2.7% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 409,653 shares of the technology company’s stock worth $29,995,000 after acquiring an additional 10,658 shares during the period. Toronado Partners LLC boosted its position in shares of BlackLine by 49.7% in the first quarter. Toronado Partners LLC now owns 408,683 shares of the technology company’s stock worth $29,924,000 after acquiring an additional 135,685 shares during the last quarter. Finally, Renaissance Technologies LLC purchased a new stake in BlackLine in the first quarter valued at approximately $14,271,000.
About BlackLine (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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