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

BlackLine, Inc. (NASDAQ:BL) – Research analysts at William Blair issued their Q2 2024 earnings per share (EPS) estimates for BlackLine in a research report issued on Tuesday, May 7th. William Blair analyst J. Roberge anticipates that the technology company will earn $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.

A number of other research firms also recently issued reports on BL. Robert W. Baird lifted their price target on BlackLine from $61.00 to $72.00 and gave the company an “outperform” rating in a research note on Wednesday. Piper Sandler upgraded BlackLine from an “underweight” rating to a “neutral” rating and boosted their target price for the stock from $55.00 to $62.00 in a research note on Tuesday, April 23rd. Citigroup dropped their price objective on BlackLine from $66.00 to $63.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 23rd. The Goldman Sachs Group upped their price objective on BlackLine from $49.00 to $54.00 and gave the company a “sell” rating in a research note on Tuesday, January 23rd. Finally, BMO Capital Markets increased their target price on BlackLine from $65.00 to $67.00 and gave the stock a “market perform” rating in a research report on Wednesday. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $64.10.

BlackLine Stock Performance

Shares of BL opened at $58.99 on Friday. The company has a debt-to-equity ratio of 4.37, a current ratio of 2.19 and a quick ratio of 2.19. The stock has a 50-day moving average of $62.59 and a 200-day moving average of $59.62. The company has a market cap of $3.65 billion, a PE ratio of 256.48, a P/E/G ratio of 10.82 and a beta of 0.87. BlackLine has a one year low of $47.26 and a one year high of $69.31.

BlackLine (NASDAQ:BL) last announced its earnings results on Tuesday, February 13th. The technology company reported $0.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.26 by $0.28. BlackLine had a positive return on equity of 2.15% and a negative net margin of 1.50%. The business had revenue of $155.73 million during the quarter, compared to analyst estimates of $154.24 million.

Insiders Place Their Bets

In other news, CRO Mark Woodhams sold 2,877 shares of BlackLine stock in a transaction that occurred on 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 $6,071,556. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Kevin B. Thompson sold 4,500 shares of the firm’s stock in a transaction that occurred on 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 sale, the director now owns 11,000 shares of the company’s stock, valued at $632,500. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CRO Mark Woodhams sold 2,877 shares of the firm’s stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $58.00, for a total transaction of $166,866.00. Following the sale, the executive now directly owns 104,682 shares of the company’s stock, valued at approximately $6,071,556. The disclosure for this sale can be found here. 9.93% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On BlackLine

A number of large investors have recently added to or reduced their stakes in BL. Vanguard Group Inc. boosted its stake in shares of BlackLine by 1.2% during the 4th quarter. Vanguard Group Inc. now owns 6,738,189 shares of the technology company’s stock worth $420,733,000 after acquiring an additional 79,649 shares during the last quarter. Brown Advisory Inc. lifted its stake in shares of BlackLine by 2.5% during the 4th quarter. Brown Advisory Inc. now owns 1,899,804 shares of the technology company’s stock valued at $118,624,000 after buying an additional 45,950 shares in the last quarter. Conestoga Capital Advisors LLC lifted its stake in shares of BlackLine by 3.5% during the 4th quarter. Conestoga Capital Advisors LLC now owns 1,414,835 shares of the technology company’s stock valued at $88,342,000 after buying an additional 47,420 shares in the last quarter. Meritage Group LP purchased a new position in shares of BlackLine during the 3rd quarter valued at $59,530,000. Finally, Northern Trust Corp lifted its stake in shares of BlackLine by 16.7% during the 3rd quarter. Northern Trust Corp now owns 787,289 shares of the technology company’s stock valued at $43,671,000 after buying an additional 112,684 shares in the last quarter. Institutional investors own 95.13% of the company’s stock.

About BlackLine

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.