BlackLine (NASDAQ:BL) Releases 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.

A number of analysts have recently commented on the stock. Citigroup assumed coverage on shares of BlackLine in a research note on Tuesday, February 1st. They issued a hold rating and a $92.00 price target for the company. BMO Capital Markets assumed coverage on shares of BlackLine in a research note on Tuesday, February 1st. They issued a market perform rating and a $92.00 price target for the company. TheStreet lowered shares of BlackLine from a c- rating to a d+ rating in a research note on Friday, February 11th. Zacks Investment Research upgraded shares of BlackLine from a hold rating to a buy rating and set a $58.00 price target for the company in a research note on Thursday, May 12th. Finally, StockNews.com upgraded shares of BlackLine from a sell rating to a hold rating in a research note on Friday, May 6th. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, BlackLine presently has a consensus rating of Buy and a consensus target price of $96.22.

Shares of BL traded down $3.49 during mid-day trading on Monday, reaching $68.58. The stock had a trading volume of 7,610 shares, compared to its average volume of 686,071. The firm has a market cap of $4.07 billion, a price-to-earnings ratio of -49.03 and a beta of 0.91. BlackLine has a 12 month low of $49.66 and a 12 month high of $135.00. The business has a fifty day moving average of $68.11 and a 200 day moving average of $86.20. The company has a debt-to-equity ratio of 20.88, a quick ratio of 3.45 and a current ratio of 3.45.

BlackLine (NASDAQ:BL – Get Rating) last posted its quarterly earnings results on Thursday, May 5th. The technology company reported $0.01 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.09. The business had revenue of $120.24 million during the quarter, compared to analyst estimates of $119.57 million. BlackLine had a negative net margin of 19.28% and a negative return on equity of 12.37%. The company’s revenue was up 21.6% on a year-over-year basis. During the same period in the prior year, the business posted ($0.14) earnings per share. On average, research analysts forecast that BlackLine will post -0.86 EPS for the current fiscal year.

In other news, CTO Peter Hirsch sold 3,427 shares of the business’s 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 transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, 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 transaction of $33,410.00. Following the completion of the transaction, the director now directly owns 45,801 shares in the company, valued at approximately $3,060,422.82. The disclosure for this sale can be found here. Over the last quarter, insiders sold 4,927 shares of company stock valued at $349,413. Company insiders own 9.71% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in BL. Renaissance Technologies LLC purchased a new stake in BlackLine during the first quarter valued at $14,271,000. Toronado Partners LLC raised its stake in BlackLine by 49.7% during the first quarter. Toronado Partners LLC now owns 408,683 shares of the technology company’s stock valued at $29,924,000 after purchasing an additional 135,685 shares in the last quarter. Barclays PLC raised its stake in BlackLine by 22.2% during 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 in the last quarter. First Trust Advisors LP raised its stake in BlackLine by 10.5% during the first quarter. First Trust Advisors LP now owns 424,380 shares of the technology company’s stock valued at $31,073,000 after purchasing an additional 40,453 shares in the last quarter. Finally, Greenstone Partners & Co. LLC raised its stake in BlackLine by 27.3% during the first quarter. Greenstone Partners & Co. LLC now owns 148,620 shares of the technology company’s stock valued at $10,882,000 after purchasing an additional 31,835 shares in 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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