BlackLine, Inc. Common Stock (BL)
BlackLine (BL) Reports Q3 Earnings: What Key Metrics Have to Say
The headline numbers for BlackLine (BL) give insight into how the company performed in the quarter ended September 2024, but it may be worthwhile to compare some of its key metrics to Wall Street estimates and the year-ago actuals.
BlackLine (BL) Beats Q3 Earnings and Revenue Estimates
BlackLine (BL) came out with quarterly earnings of $0.60 per share, beating the Zacks Consensus Estimate of $0.52 per share. This compares to earnings of $0.51 per share a year ago.
BlackLine (BL) Q3 Earnings on the Horizon: Analysts' Insights on Key Performance Measures
Evaluate the expected performance of BlackLine (BL) for the quarter ended September 2024, looking beyond the conventional Wall Street top-and-bottom-line estimates and examining some of its key metrics for better insight.
BlackLine Is Expanding Net Profit Margins Fast
BlackLine, a financial automation software firm, targets enterprise customers, automating financial close processes to improve cash flows and financial reporting accuracy. Founded by Therese Tucker, BL has grown significantly, achieving profitability and strong financial metrics like 79% gross margins and 105% net revenue retention. The company's stock is trending upwards, driven by a sticky customer base and potential increased demand due to year-end taxes and the presidential election.
Why BlackLine (BL) is Poised to Beat Earnings Estimates Again
BlackLine (BL) has an impressive earnings surprise history and currently possesses the right combination of the two key ingredients for a likely beat in its next quarterly report.
ZM or BL: Which Is the Better Value Stock Right Now?
Investors interested in Internet - Software stocks are likely familiar with Zoom Video Communications (ZM) and BlackLine (BL). But which of these two stocks is more attractive to value investors?
BlackLine, Inc. (BL) Q2 2024 Earnings Call Transcript
BlackLine, Inc. (NASDAQ:BL ) Q2 2024 Earnings Conference Call August 6, 2024 5:00 PM ET Company Participants Matt Humphries - Vice President of Investor Relations Owen Ryan - Co-Chief Executive Officer Therese Tucker - Co-Chief Executive Officers Mark Partin - Chief Financial Officer Conference Call Participants Steve Enders - Citi Rob Oliver - Baird Chris Quintero - Morgan Stanley Matt VanVliet - BTIG Pat Walravens - Citizens JMP Alex Sklar - Raymond James Pinjalim Bora - JPMorgan Adam Hotchkiss - Goldman Sachs Brent Bracelin - Piper Sandler Koji Ikeda - Bank of America Merrill Lynch Daniel Jester - BMO Capital Markets Jake Roberge - William Blair Operator Good day, and thank you for standing by. Welcome to the Q2 2024 BlackLine Earnings Conference Call.
Here's What Key Metrics Tell Us About BlackLine (BL) Q2 Earnings
Although the revenue and EPS for BlackLine (BL) give a sense of how its business performed in the quarter ended June 2024, it might be worth considering how some key metrics compare with Wall Street estimates and the year-ago numbers.
BlackLine (BL) Tops Q2 Earnings and Revenue Estimates
BlackLine (BL) came out with quarterly earnings of $0.58 per share, beating the Zacks Consensus Estimate of $0.50 per share. This compares to loss of $0.41 per share a year ago.
BlackLine: Attractive Business Trading At An Appealing Multiple
I recommended a buy due to BL mission-critical solution for enterprises, expected low-teens growth rate, and large TAM. BL automates accounting processes for large enterprises globally, with a focus on the US market gradually shifting to international. Recent market pressure is due to growth slowdown, but I don't see this as a big issue.
Amalgamated Bank Sells 563 Shares of BlackLine, Inc. (NASDAQ:BL)
Amalgamated Bank lessened its holdings in shares of BlackLine, Inc. (NASDAQ:BL – Free Report) by 6.5% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 8,069 shares of the technology company’s stock after selling 563 shares during the quarter. Amalgamated Bank’s holdings in BlackLine were worth $504,000 at the end of the most recent reporting period. Other large investors have also recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings in BlackLine by 6.1% during the 3rd quarter. Vanguard Group Inc. now owns 6,658,540 shares of the technology company’s stock worth $369,349,000 after purchasing an additional 380,614 shares in the last quarter. Conestoga Capital Advisors LLC lifted its holdings in shares of BlackLine by 3.5% in the fourth quarter. Conestoga Capital Advisors LLC now owns 1,414,835 shares of the technology company’s stock worth $88,342,000 after buying an additional 47,420 shares in the last quarter. Meritage Group LP bought a new position in shares of BlackLine in the third quarter valued at approximately $59,530,000. Northern Trust Corp grew its stake in BlackLine by 16.7% during the third quarter. Northern Trust Corp now owns 787,289 shares of the technology company’s stock valued at $43,671,000 after acquiring an additional 112,684 shares in the last quarter. Finally, UBS Group AG increased its holdings in BlackLine by 855.5% during the 3rd quarter. UBS Group AG now owns 657,004 shares of the technology company’s stock worth $36,444,000 after acquiring an additional 588,245 shares during the period. Hedge funds and other institutional investors own 95.13% of the company’s stock. BlackLine Stock Down 1.0 % Shares of NASDAQ:BL opened at $58.46 on Monday. The stock has a market capitalization of $3.61 billion, a P/E ratio of 254.17, a price-to-earnings-growth ratio of 6.74 and a beta of 0.87. The stock’s 50-day moving average price is $61.89 and its 200-day moving average price is $60.10. The company has a current ratio of 2.30, a quick ratio of 2.30 and a debt-to-equity ratio of 4.08. BlackLine, Inc. has a 12-month low of $47.26 and a 12-month high of $69.31. Analyst Upgrades and Downgrades Several brokerages have commented on BL. William Blair raised shares of BlackLine to a “hold” rating in a report on Tuesday, May 7th. JMP Securities restated a “market outperform” rating and issued a $81.00 target price on shares of BlackLine in a research note on Wednesday, February 14th. JPMorgan Chase & Co. dropped their price target on BlackLine from $55.00 to $52.00 and set an “underweight” rating for the company in a research report on Wednesday, February 14th. The Goldman Sachs Group upped their price objective on shares of BlackLine from $49.00 to $54.00 and gave the stock a “sell” rating in a research report on Tuesday, January 23rd. Finally, Piper Sandler upgraded shares of BlackLine from an “underweight” rating to a “neutral” rating and lifted their target price for the company from $55.00 to $62.00 in a research report on Tuesday, April 23rd. Two equities 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 an average target price of $64.10. Get Our Latest Report on BL Insider Activity at BlackLine In other BlackLine news, Director Kevin B. Thompson sold 4,500 shares of the business’s stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $57.50, for a total value of $258,750.00. Following the completion of the sale, the director now owns 11,000 shares in the company, valued at $632,500. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CRO Mark Woodhams sold 2,877 shares of the firm’s stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $58.00, for a total value of $166,866.00. Following the sale, the executive now directly owns 104,682 shares of the company’s stock, valued at $6,071,556. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Kevin B. Thompson sold 4,500 shares of the business’s stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $57.50, for a total value of $258,750.00. Following the transaction, the director now owns 11,000 shares in the company, valued at approximately $632,500. The disclosure for this sale can be found here. 9.93% of the stock is currently owned by company insiders. About BlackLine (Free Report) 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.
