In the past week, BL stock has gone up by 7.37%, with a monthly gain of 7.31% and a quarterly surge of 15.08%. The volatility ratio for the week is 2.08%, and the volatility levels for the last 30 days are 2.24% for BlackLine Inc The simple moving average for the past 20 days is 4.09% for BL’s stock, with a 8.52% simple moving average for the past 200 days.
Is It Worth Investing in BlackLine Inc (NASDAQ: BL) Right Now?
The price-to-earnings ratio for BlackLine Inc (NASDAQ: BL) is 35.47x, which is above its average ratio. Moreover, the 36-month beta value for BL is 0.88. Analysts have varying opinions on the stock, with 4 analysts rating it as a “buy,” 2 as “overweight,” 2 as “hold,” and 0 as “sell.”
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The public float for BL is 51.00M and currently, short sellers hold a 9.11% of that float. On November 08, 2024, BL’s average trading volume was 691.76K shares.
BL) stock’s latest price update
The stock price of BlackLine Inc (NASDAQ: BL) has jumped by 1.40 compared to previous close of 58.63. Despite this, the company has seen a gain of 7.37% in its stock price over the last five trading days. seekingalpha.com reported 2024-11-07 that BlackLine, Inc. (NASDAQ:BL ) Q3 2024 Results Conference Call November 7, 2024 5:00 PM ET Company Participants Matt Humphries – Vice President of Investor Relations Owen Ryan – Co-Chief Executive Officer Therese Tucker – Co-Chief Executive Officers Mark Partin – Chief Financial Officer Conference Call Participants Patrick Walravens – Citizens JMP Alex Sklar – Raymond James Daniel Jester – BMO Capital Markets Rob Oliver – Baird Ryan Krieger – Wolfe Research Chris Quintero – Morgan Stanley Koji Ikeda – Bank of America Dominique Manansala – Truist Securities Jake Roberge – William Blair George Kurosawa – Citi Operator Good day, and thank you for standing by. Welcome to the BlackLine Quarter Three 2024 Earnings Conference Call.
Analysts’ Opinion of BL
Many brokerage firms have already submitted their reports for BL stocks, with Morgan Stanley repeating the rating for BL by listing it as a “Overweight.” The predicted price for BL in the upcoming period, according to Morgan Stanley is $70 based on the research report published on September 30, 2024 of the current year 2024.
Piper Sandler, on the other hand, stated in their research note that they expect to see BL reach a price target of $62, previously predicting the price at $55. The rating they have provided for BL stocks is “Neutral” according to the report published on April 23rd, 2024.
BL Trading at 10.71% from the 50-Day Moving Average
After a stumble in the market that brought BL to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -14.23% of loss for the given period.
Volatility was left at 2.24%, however, over the last 30 days, the volatility rate increased by 2.08%, as shares surge +8.33% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +20.69% upper at present.
During the last 5 trading sessions, BL rose by +7.37%, which changed the moving average for the period of 200-days by -1.82% in comparison to the 20-day moving average, which settled at $57.12. In addition, BlackLine Inc saw -4.79% in overturn over a single year, with a tendency to cut further losses.
Insider Trading
Reports are indicating that there were more than several insider trading activities at BL starting from Morgan-Prager Karole, who sale 27,079 shares at the price of $60.06 back on Oct 18 ’24. After this action, Morgan-Prager Karole now owns 113,865 shares of BlackLine Inc, valued at $1,626,365 using the latest closing price.
Morgan-Prager Karole, the Officer of BlackLine Inc, proposed sale 27,079 shares at $60.06 during a trade that took place back on Oct 18 ’24, which means that Morgan-Prager Karole is holding shares at $1,626,469 based on the most recent closing price.
Stock Fundamentals for BL
Current profitability levels for the company are sitting at:
- 0.03 for the present operating margin
- 0.75 for the gross margin
The net margin for BlackLine Inc stands at 0.19. The total capital return value is set at 0.02. Equity return is now at value 48.40, with 6.29 for asset returns.
Based on BlackLine Inc (BL), the company’s capital structure generated 0.78 points at debt to capital in total, while cash flow to debt ratio is standing at 0.15. The debt to equity ratio resting at 3.52. The interest coverage ratio of the stock is 2.98.
Currently, EBITDA for the company is 46.94 million with net debt to EBITDA at 5.83. When we switch over and look at the enterprise to sales, we see a ratio of 6.79. The receivables turnover for the company is 4.54for trailing twelve months and the total asset turnover is 0.33. The liquidity ratio also appears to be rather interesting for investors as it stands at 1.95.
Conclusion
To wrap up, the performance of BlackLine Inc (BL) has been better in recent times. The stock has received a bullish of “buy” and “hold” ratings from analysts. It is worth mentioning that the stock is currently trading in close proximity to its 50-day moving average and its 52-week high.
