BlackLine Inc [NASDAQ: BL] stock went on a downward path that fall over -1.23% on Wednesday, amounting to a one-week price decrease of less than -11.68%.
Over the last 12 months, BL stock dropped by -3.88%. The one-year BlackLine Inc stock forecast points to a potential upside of 17.47. The average equity rating for BL stock is currently 3.00, trading closer to a bullish pattern in the stock market.
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The market cap for the stock reached $3.22 billion, with 61.52 million shares outstanding and 50.58 million shares in the current float. Compared to the average trading volume of 1.04M shares, BL stock reached a trading volume of 5716600 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Guru’s Opinion on 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 $63.03 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 3.00. 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.
Piper Sandler have made an estimate for BlackLine Inc shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on April 23, 2024. While these analysts kept the previous recommendation, Wolfe Research raised their target price to Peer Perform. The new note on the price target was released on March 18, 2024, representing the official price target for BlackLine Inc stock. On January 02, 2024, analysts increased their price target for BL shares from 53 to 60.
The Average True Range (ATR) for BlackLine Inc is set at 2.02, with the Price to Sales ratio for BL stock in the period of the last 12 months amounting to 5.29. The Price to Book ratio for the last quarter was 11.49, with the Price to Cash per share for the same quarter was set at 20.14. Price to Free Cash Flow for BL in the course of the last twelve months was 21.50 with Quick ratio for the last quarter at 2.30.
BL Stock Performance Analysis:
BlackLine Inc [BL] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -11.68. With this latest performance, BL shares dropped by -15.36% in over the last four-week period, additionally sinking by -9.83% over the last 6 months – not to mention a drop of -3.88% 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 28.04, with the RSI for the last a single of trading hit 19.94, and the three-weeks RSI is set at 33.55 for BlackLine Inc [BL]. The present Moving Average for the last 50 days of trading for this stock 61.13, while it was recorded at 56.02 for the last single week of trading, and 58.05 for the last 200 days.
Insight into BlackLine Inc Fundamentals:
BlackLine Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 2.30 and a Current Ratio set at 2.30.
BL Stock EPS
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 33.08%.
BlackLine Inc [BL] Institutonal Ownership Details
The top three institutional holders of BL stocks are: VANGUARD GROUP INC with ownership of 1.32 billion shares, which is approximately 8.4983%. BLACKROCK INC., holding 1.04 billion shares of the stock with an approximate value of $200.69 billion in BL stocks shares; and BERKSHIRE HATHAWAY INC, currently with $174.35 billion in BL stock with ownership which is approximately 5.8386%.
