The stock of BlackLine Inc. (NASDAQ:BL) increased by $1.25 on Friday to finish at $53.62, up 2.39 percent. The last five days have seen an average of 473,940 shares of common stock traded. 8 times new highs were reached in the current year, with a fall of -$13.65. The average number of shares traded over the last 20 days was 653,880, while the average volume over the last 50 days totaled 599,762.
BL stock dropped -3.58% since last month. On 08/09/23, the company’s shares reached a one-month low of $48.22. The stock touched a high of $77.90 on 02/02/23, after rallying from a low of $48.22 in 52 weeks. The price of BL stock has declined by -20.29% or -$13.65 this year, reaching a new high 8 times. Still, the stock price is down -31.17% from the 52-week high.
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Insider Transactions
BL stock investors should be aware that BlackLine Inc. (BL) stock had its last reported insider trading activity 7 days ago on Aug 21. On Aug 21, Chief Revenue Officer Woodhams Mark sold 558 shares at $52.00 each. This transaction resulted in the insider making $29,016. On May 22, HIRSCH PETER sold 1,397 shares at a price of US$53.28. After the transaction, the insider now owns 56,055 shares. Chief Revenue Officer Woodhams Mark had earlier sold 558 shares on May 22 for $53.28 a share. The transaction was completed for $29,730.
Valuation Metrics
BlackLine Inc. (BL) has a trailing price-to-earnings (P/E) ratio of 638.33. Beta for the stock is 0.88. There are also a few other valuation ratios worth considering, including the trailing price-to-sales (P/S) ratio of 5.73, the price-to-book (PB) ratio of 18.43, and the price-to-cash flow ratio of 46.28.
Financial Health
For the three months ended June 29, BlackLine Inc.’s quick ratio was 3.60, while its current ratio was 3.60, indicating its ability to pay off its debt. The company’s long-term debt to equity ratio for the quarter ending June 29 is 7.86, and the total debt to equity ratio is 7.87. As far as profitability goes, gross margin for the trailing twelve months is 75.20% percent. BlackLine Inc.’s EBITDA margin for the year ended June 29 was -7.84%, whereas its operating margin stood at -2.80% for the same period. Based on annual data, it had gross profit of $393.55 million and revenue of $522.94 million.
Investors will also look at the performance of the company’s management in order to determine the potential profitability of their investment. BL’s return on assets (ROA) during the last 12 months has been 0.50%. There was a -2.80% return on investment (ROI) in the past year. In the meantime, the return on equity (ROE) for the last 12 months was 8.40%.
Earnings Surprise
According to BlackLine Inc.’s quarterly financial report for the quarter that ended June 29. A higher net income was reported in the quarter under review than the previous quarter. Net income for the quarter came in at $144.46 million, while revenues rose by 11.06% to $138.98 million. It was predicted that BlackLine Inc.’s quarterly earnings would be $0.41, but it ended up being $0.29, beating the consensus by 41.40%. EBITDA was $23.4 million for the quarter. At the end of BlackLine Inc.’s most recent quarter ended June 29, its liabilities totaled 1.8 billion, while its total debt was $1.41 billion. Equity owned by shareholders amounts to $60.98 million.
Technical Picture
Here’s a quick look at BlackLine Inc.’s (BL) price momentum from a technical perspective. As of 25 August, the RSI 9-day stood at 56.71%, suggesting the stock is Neutral, with a 27.21% historical volatility rate.
The stochastic %K and %D were 74.39% and 61.82% respectively, while the average true range (ATR) was 1.65. Based on the 14-day stochastic reading of 95.58%, the RSI (14) reading is 52.09%. On the 9-day MACD Oscillator, the stock is at 1.04, and the 14-day reading is at 1.26.
Analyst Ratings
In its analyst report released on May 22, 2023, Morgan Stanley began covering BlackLine Inc. (NASDAQ: BL). The stock was rated as an Equal-weight by the brokerage firm. Analysts have assigned BlackLine Inc. (BL) an Hold rating. BL is a stock that is recommended for selling by 2 brokerage firms, while 6 companies recommend holding. The stock is underweighted by 1 analyst. Among the analysts who rate the stock, 1 rate it overweight and 3 others recommend it as a buy.
What is BL’s price target for the next 12 months?
The current consensus forecast for the stock is between $47.00 and $81.00, with a median target price of $57.00. In analyzing these forecasts, the average price target given by analysts for BlackLine Inc. (BL) is $58.82.
