BlackLine (NASDAQ:BL) Releases FY 2022 Earnings Guidance

BlackLine (NASDAQ:BLGet Rating) issued an update on its FY 2022 earnings guidance on Monday morning. 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.

Shares of NASDAQ:BL traded down $3.49 during midday trading on Monday, hitting $68.58. 7,610 shares of the company’s stock were exchanged, compared to its average volume of 686,071. The company has a debt-to-equity ratio of 20.88, a current ratio of 3.45 and a quick ratio of 3.45. The stock has a 50 day moving average price of $68.11 and a 200-day moving average price of $86.20. The company has a market cap of $4.07 billion, a PE 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.

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

A number of research firms have recently weighed in on BL. Zacks Investment Research raised shares of BlackLine from a hold rating to a buy rating and set a $58.00 target price for the company in a research report on Thursday, May 12th. StockNews.com raised shares of BlackLine from a sell rating to a hold rating in a research report on Friday, May 6th. Robert W. Baird reduced their target price on shares of BlackLine from $105.00 to $95.00 in a research report on Friday, May 6th. BMO Capital Markets began coverage on shares of BlackLine in a research report on Tuesday, February 1st. They set a market perform rating and a $92.00 target price for the company. Finally, JMP Securities reduced their target price on shares of BlackLine from $145.00 to $112.00 and set a market outperform rating for the company in a research report on Wednesday, April 20th. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of Buy and an average target price of $96.22.

In other BlackLine news, CTO Peter Hirsch sold 3,427 shares of the firm’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 sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Thomas Unterman sold 500 shares of the firm’s stock in a transaction on Friday, April 1st. The stock was sold at an average price of $73.35, for a total transaction of $36,675.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 4,927 shares of company stock worth $349,413. 9.71% of the stock is owned by insiders.

A number of institutional investors have recently made changes to their positions in the business. Synovus Financial Corp lifted its position in shares of BlackLine by 3.6% in the 4th quarter. Synovus Financial Corp now owns 4,990 shares of the technology company’s stock worth $512,000 after purchasing an additional 174 shares during the period. Prudential Financial Inc. lifted its position in shares of BlackLine by 4.8% in the 1st quarter. Prudential Financial Inc. now owns 6,352 shares of the technology company’s stock worth $465,000 after purchasing an additional 289 shares during the period. Mackenzie Financial Corp lifted its position in shares of BlackLine by 12.1% in the 1st quarter. Mackenzie Financial Corp now owns 3,069 shares of the technology company’s stock worth $225,000 after purchasing an additional 331 shares during the period. Legal & General Group Plc lifted its position in shares of BlackLine by 1.1% in the 4th quarter. Legal & General Group Plc now owns 46,397 shares of the technology company’s stock worth $4,804,000 after purchasing an additional 525 shares during the period. Finally, Advisors Asset Management Inc. lifted its position in shares of BlackLine by 43.1% in the 1st quarter. Advisors Asset Management Inc. now owns 1,950 shares of the technology company’s stock worth $143,000 after purchasing an additional 587 shares during the period.

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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