BlackLine Inc. [BL] Stock trading around $97.68 per share: What’s Next?

BlackLine Inc. [NASDAQ: BL] gained 5.83% or 5.38 points to close at $97.68 with a heavy trading volume of 1377481 shares. The company report on October 30, 2020 that Dolby Laboratories, Domino’s Pizza UK & Ireland, Hain Celestial, Nestlé Health Science And Vimeo Among Customers That Signed On With BlackLine In Q3 2020.

Enterprise and midsize companies worldwide continue to modernize Finance & Accounting operations with BlackLine; nearly 3 billion transactions imported by BlackLine customers in Q3 alone.

Leading financial close and accounting automation software provider BlackLine, Inc. (Nasdaq: BL) continued to expand its global customer base during the third 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).

It opened the trading session at $97.25, the shares rose to $99.92 and dropped to $93.75, the range by which the price of stock traded the whole day. The daily chart for BL points out that the company has recorded 70.89% gains over the past six months. However, it is still -154.91% lower than its most recent low trading price.

If we look at the average trading volume of 551.88K shares, BL reached to a volume of 1377481 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying 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 $93.75 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 2.20. 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.

BTIG Research have made an estimate for BlackLine Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on October 06, 2020. While these analysts kept the previous recommendation, KeyBanc Capital Markets raised their target price to Overweight. The new note on the price target was released on July 01, 2020, representing the official price target for BlackLine Inc. stock. Previously, the target price had yet another raise from $60 to $78, while Piper Sandler kept a Overweight rating on BL stock.

The Average True Range (ATR) for BlackLine Inc. is set at 4.48, with the Price to Sales ratio for BL stock in the period of the last 12 months amounting to 16.36. The Price to Book ratio for the last quarter was 13.49, with the Price to Cash per share for the same quarter was set at 11.65. Price to Free Cash Flow for BL in the course of the last twelve months was 172.21 with Quick ratio for the last quarter at 3.60.

Trading performance analysis for BL stock

BlackLine Inc. [BL] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -1.36. With this latest performance, BL shares gained by 7.41% in over the last four-week period, additionally plugging by 70.89% over the last 6 months – not to mention a rise of 108.99% 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 53.76, with the RSI for the last a single of trading hit 55.49, and the three-weeks RSI is set at 56.12 for BlackLine Inc. [BL]. The present Moving Average for the last 50 days of trading for this stock 89.16, while it was recorded at 93.82 for the last single week of trading, and 73.52 for the last 200 days.

BlackLine Inc. [BL]: A deeper dive into fundamental analysis

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.

BlackLine Inc. [BL]: An earnings per share (EPS) analysis

With the latest financial reports released by the company, BlackLine Inc. posted 0.14/share EPS, while the average EPS was predicted by analysts to be reported at 0.13/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 7.70%. 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%.

An analysis of insider ownership at BlackLine Inc. [BL]

There are presently around $5,211 million, or 97.00% of BL stock, in the hands of institutional investors. The top three institutional holders of BL stocks are: VANGUARD GROUP INC with ownership of 4,518,635, which is approximately 7.369% of the company’s market cap and around 1.10% of the total institutional ownership; KAYNE ANDERSON RUDNICK INVESTMENT MANAGEMENT LLC, holding 3,995,575 shares of the stock with an approximate value of $390.29 million in BL stocks shares; and BLACKROCK INC., currently with $345.59 million in BL stock with ownership of nearly 14.152% of the company’s market capitalization.

Positions in BlackLine Inc. stocks held by institutional investors increased at the end of October and at the time of the October reporting period, where 173 institutional holders increased their position in BlackLine Inc. [NASDAQ:BL] by around 5,970,749 shares. Additionally, 107 investors decreased positions by around 6,077,511 shares, while 27 investors held positions by with 41,295,588 shares. The mentioned changes placed institutional holdings at 53,343,848 shares, according to the latest SEC report filing. BL stock had 61 new institutional investments in for a total of 1,829,917 shares, while 23 institutional investors sold positions of 1,250,879 shares during the same period.

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