() updated its second quarter earning guidance on Thursday morning. The company gave a guidance for earnings per share of $0.27-0.29, compared with the consensus estimate of $0.19. The company provided revenue guidance between $143-145 millions, compared with the consensus estimate of $144.38 million. BlackLine updated its FY23 guidance at $1.23-1.29 per share.
BlackLine Price Performance
On Friday, the stock rose $2.78 to $53.82. The stock was traded at a volume of 1,634,661 compared to the average of 521 435. The 50-day moving mean of the firm is $62.36. Its 200-day moving means is $64.83. BlackLine's one-year low is $48.73, and its one-year high is $79.23. BlackLine has a debt to equity ratio of 12.38. It also has a quick and current ratios of 3.40, 3.40, and 3.40. The last time ) released its quarterly results was on February 14th. The technology company posted $0.10 per share in earnings for the third quarter, exceeding analysts' expectations of ($0.12) to $0.22. BlackLine's negative net margin was 5.79%, and its negative return on equity was 10.97%. The company's revenue for the quarter was $139.96m, which is lower than the consensus estimate of $149.17m. Analysts expect BlackLine to post -0.2 earnings per share for the current fiscal.
Analyst Upgrades and downgrades
In a research note published on Thursday 16th March, BlackLine shares were covered. They gave the company a hold ranking. Citigroup raised their price target for shares of BlackLine to $65.00 in a research note published on February 15th. The company was also given a sell rating. Piper Sandler reduced their price target for shares of BlackLine in a Friday research report from $64.00 down to $55.00. BMO Capital Markets reduced their price target for shares of BlackLine in a Friday research report from $71.00 down to $59.00. Robert W. Baird reduced their price target for shares of BlackLine in a Friday research report from $82.00 down to $64.00. Three analysts have given the stock a sell recommendation, six have given a hold recommendation and two have given a buy recommendation. According to data from MarketBeat BlackLine has a current consensus rating of Hold with an average price of $64.40.
BlackLine Insider Transactions
On Monday, 1st May, 5,000 shares were sold. Stock was sold for $277,100.00 at an average price $55.42. The chief financial officer owns approximately 11,055,126.18 worth of shares after the transaction. The company sold 19,650 shares in a deal that took place on February 21st. Stock was sold for $1,392,202.50 at a price of $70.85. The chief executive now owns 304,516 company shares, worth $21,574,958.60. On Monday, 1st May, 5,000 shares were sold. The shares were purchased at a price of $55.42 on average, for a value of $277100.00. After the completion of this transaction, the chief executive officer now has 199,479 company shares valued at approximately 11,055,126.18. In the past 90 days, insiders sold 76 525 shares of stock in the company worth $5,255 421. Insiders hold 9.93% the company's shares.
BlackLine: Hedge Funds weigh in
Several institutional investors recently bought and then sold shares of BL. Natixis purchased a $1,954,000 stake in BlackLine. Captrust Financial Advisors increased its holdings of BlackLine by 48.6% in the 4th Quarter. Captrust Financial Advisors owns 9,784 of the stock of the technology company valued at $658,000. This is after adding 3,202 additional shares to its portfolio. State of Wisconsin Investment Board increased its holdings of BlackLine by 3.1% in the 4th quarter. State of Wisconsin Investment Board owns 95.162 shares of technology company stock, valued at $6.402,000, after adding 2,859 more shares. T. Rowe Price Investment Management Inc. grew its holdings of shares of BlackLine in the fourth quarter by 40.7%. T. Rowe Price Investment Management Inc. owns 1,296,306 of the stock of the technology firm, worth $87.203,000, after buying an additional 374,813 shares. Man Group plc purchased a new share position in BlackLine during the fourth quarter, valued at $1,747,000. Hedge funds and institutional investors hold 99.96% the stock of BlackLine.
BlackLine Company Profile
BlackLine, Inc. operates a cloud software platform that is designed to transform the accounting and finance functions of organizations of any size. Its scalable software platform supports critical accounting functions such as financial close, account reconcilements, intercompany accounting and controls assurance.
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