As of Friday close, BlackLine Inc.’s (NASDAQ:BL) stock was up $1.38, moving up 2.72 percent to $52.07. The average number of shares traded per day over the past five days has been 589,800 shares. 1 time new highs have been achieved over the past 5 days, with a $0.01 gain in that time frame. In the last twenty days, the average volume was 663,955, while in the previous 50 days, it was 645,320.
Since last month, BL stock retreated -7.10%. Shares of the company fell to $48.22 on 08/09/23, the lowest level in the past month. A 52-week high of $77.90 was reached on 02/02/23 after having rallying from a 52-week low of $48.22. Since the beginning of this year, BL’s stock price has dropped by -22.60% or -$15.20, and marked a new high 8 times. However, the stock has declined by -33.16% since its 52-week high.
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BL stock investors should be aware that BlackLine Inc. (BL) stock had its last reported insider trading activity 89 days ago on May 22. HIRSCH PETER, the Chief Technology Officer of the company, disposed of 1,397 shares for $53.28 on May 22. It resulted in a $74,432 divestment by the insider. Woodhams Mark sold 558 shares at an average price of $53.28 on May 22. The insider now owns 96,110 shares following the transaction. On May 01, Chief Financial Officer Partin Mark sold 5,000 shares at $55.42 apiece. The transaction was valued at $277,100.
Valuation Metrics
Right now, BlackLine Inc. (BL) has a P/E ratio of about 619.88. The stock’s beta is 0.89. Besides these, the trailing price-to-sales (P/S) ratio of 5.48, the price-to-book (PB) ratio of 17.89, and the price-to-cash flow ratio of 44.31 may also be considered.
Financial Health
In the three months ended June 29, BlackLine Inc.’s quick ratio stood at 3.60, while its current ratio was 3.60, showing that the company is able to pay off its debt. According to company report, the long-term debt-to-equity ratio for the quarter ending June 29 was 7.86, and the total debt-to-equity ratio was 7.87. On the profitability front, the trailing twelve-month gross margin is 75.20% percent. In the year ended June 29, EBITDA margin amounted to -7.84%, whereas operating margins totaled -2.80%. Based on annual data, BL earned $393.55 million in gross profit and brought in $522.94 million in revenue.
A company’s management is another factor that investors consider when determining the profitability of an investment. In the past year, return on investment (ROI) was -2.80%. Return on equity (ROE) for the past 12 months was 8.40%.
According to the earnings report, the company had a higher net income in the recent quarter than it did in the previous quarter. BL’s revenue rose 11.06% to $138.98 million during the quarter, while net income inched up to $144.46 million. While analysts expected BlackLine Inc. to report $0.29 quarterly earnings, the actual figure was $0.41 per share, beating the consensus estimate by 41.40%. During the quarter, the company generated $23.4 million in EBITDA. The liabilities of BlackLine Inc. were 1.8 billion at the end of its most recent quarter ended June 29, and its total debt was $1.41 billion. The value of shareholders’ equity is $60.98 million.
Technical Picture
This quick technical analysis looks at BlackLine Inc.’s (BL) price momentum. With a historical volatility rate of 52.33%, the RSI 9-day stood at 46.40% on 18 August.
With respect to its five-day moving average, the current BlackLine Inc. price is up by +0.02% percent or $0.01. At present, BL shares trade -5.02% below its 20-day simple moving average and -18.40% percent below its 100-day simple moving average. However, the stock is currently trading approximately -1.94% below its SMA50 and -7.02% below its SMA200.
Stochastic coefficient K was 28.42% and Stochastic coefficient D was 26.83%, while ATR was 1.90. Given the Stochastic reading of 36.39% for the 14-day period, the RSI (14) reading has been calculated as 45.55%. As of today, the MACD Oscillator reading stands at 0.07, while the 14-day reading stands at -1.39.
Analyst Ratings
Morgan Stanley launched its rating on BlackLine Inc. (NASDAQ: BL) to an Equal-weight in a note to investors on May 22, 2023. BlackLine Inc. (BL) has been rated Hold by analysts. According to 2 brokerage firms, BL is a sell, and 6 firms recommend it is a Hold. There are 1 analyst who say the stock is underweight. A total of 1 analyst rate BlackLine Inc. stock as buy, with 3 recommending it as overweight.
With a median target price of $57.00, the current consensus forecast for the stock is $47.00 – $81.00. Based on these forecasts, analysts predict BlackLine Inc. (BL) will achieve an average price target of $59.09.
