BlackLine Inc. [BL] Stock trading around $74.75 per share: What’s Next?

BlackLine Inc. [NASDAQ: BL] plunged by -$4.51 during the normal trading session on Monday and reaching a high of $80.05 during the day while it closed the day at $74.75. The company report on August 6, 2020 that Caltech, Del Taco, Golden State Foods, Infoblox, Sojitz Asia, Vanderlande And Vistra Energy Among Customers That Signed On With BlackLine In Q2 2020.

Accounting automation software leader surpasses 275K users globally with nearly 3 billion transactions imported by BlackLine customers in Q2 alone.

Leading financial close and accounting automation software provider BlackLine, Inc. (Nasdaq: BL) continued to expand its global customer base during the second quarter of 2020 adding a broad range of large and midsize companies to its client roster from North America, EMEA (Europe, Middle East and Africa) and the Asia-Pacific region (ASIAPAC).

BlackLine Inc. stock has also loss -17.73% of its value over the past 7 days. However, BL stock has inclined by 15.35% in the 3 months of the year. Over the past six months meanwhile, it has gained 18.79% and gained 44.97% year-on date.

The market cap for BL stock reached $4.88 billion, with 56.17 million shares outstanding and 49.05 million shares in the current float. Compared to the average trading volume of 507.62K shares, BL reached a trading volume of 1309207 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say about BlackLine Inc. [BL]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for BL shares is $80.43 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on BL stock is a recommendation set at 2.30. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

KeyBanc Capital Markets have made an estimate for BlackLine Inc. shares, keeping their opinion on the stock as Overweight, with their previous recommendation back on July 01, 2020. While these analysts kept the previous recommendation, Piper Sandler raised their target price from $60 to $78. The new note on the price target was released on February 14, 2020, representing the official price target for BlackLine Inc. stock. Previously, the target price had yet another raise to $75, while Oppenheimer analysts kept a Outperform rating on BL stock.

The Average True Range (ATR) for BlackLine Inc. is set at 4.03, with the Price to Sales ratio for BL stock in the period of the last 12 months amounting to 15.89. The Price to Book ratio for the last quarter was 10.60, with the Price to Cash per share for the same quarter was set at 9.40. Price to Free Cash Flow for BL in the course of the last twelve months was 194.55 with Quick ratio for the last quarter at 3.60.

BL stock trade performance evaluation

BlackLine Inc. [BL] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -17.73. With this latest performance, BL shares dropped by -14.52% in over the last four-week period, additionally plugging by 18.79% over the last 6 months – not to mention a rise of 43.85% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for BL stock in for the last two-week period is set at 33.58, with the RSI for the last a single of trading hit 25.17, and the three-weeks RSI is set at 39.20 for BlackLine Inc. [BL]. The present Moving Average for the last 50 days of trading for this stock 83.04, while it was recorded at 85.97 for the last single week of trading, and 63.25 for the last 200 days.

BlackLine Inc. [BL]: An insightful look at the core fundamentals

Operating Margin for any stock indicates how profitable investing would be, and BlackLine Inc. [BL] shares currently have an operating margin of -9.47 and a Gross Margin at +77.70. BlackLine Inc.’s Net Margin is presently recorded at -11.26.

Return on Total Capital for BL is now -4.84, given the latest momentum, and Return on Invested Capital for the company is -5.84. Return on Equity for this stock declined to -9.04, with Return on Assets sitting at -4.31. When it comes to the capital structure of this company, BlackLine Inc. [BL] has a Total Debt to Total Equity ratio set at 100.32. Additionally, BL Total Debt to Total Capital is recorded at 50.08, with Total Debt to Total Assets ending up at 39.42. Long-Term Debt to Equity for the company is recorded at 99.08, with the Long-Term Debt to Total Capital now at 49.46.

Reflecting on the efficiency of the workforce at the company, BlackLine Inc. [BL] managed to generate an average of -$30,839 per employee. Receivables Turnover for the company is 3.25 with a Total Asset Turnover recorded at a value of 0.38.BlackLine Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 3.60 and a Current Ratio set at 3.60.

Earnings per share (EPS) analysis for BlackLine Inc. [BL] stock

With the latest financial reports released by the company, BlackLine Inc. posted 0.12/share EPS, while the average EPS was predicted by analysts to be reported at 0.03/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 300.00%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for BL. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for BlackLine Inc. go to 50.00%.

BlackLine Inc. [BL]: Insider Ownership positions

There are presently around $4,759 million, or 95.90% of BL stock, in the hands of institutional investors. The top three institutional holders of BL stocks are: COPPER ROCK CAPITAL PARTNERS, LLC with ownership of 9,826,102, which is approximately 3860.86% of the company’s market cap and around 1.20% of the total institutional ownership; VANGUARD GROUP INC, holding 4,208,521 shares of the stock with an approximate value of $314.57 million in BL stocks shares; and KAYNE ANDERSON RUDNICK INVESTMENT MANAGEMENT LLC, currently with $298.92 million in BL stock with ownership of nearly 0.831% of the company’s market capitalization.

Positions in BlackLine Inc. stocks held by institutional investors increased at the end of August and at the time of the August reporting period, where 149 institutional holders increased their position in BlackLine Inc. [NASDAQ:BL] by around 16,912,145 shares. Additionally, 109 investors decreased positions by around 6,454,647 shares, while 28 investors held positions by with 40,302,957 shares. The mentioned changes placed institutional holdings at 63,669,749 shares, according to the latest SEC report filing. BL stock had 48 new institutional investments in for a total of 2,882,294 shares, while 26 institutional investors sold positions of 1,355,913 shares during the same period.

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