BlackLine Inc. (NASDAQ:BL) does about 530.72K shares in volume on a normal day but saw 498818 shares change hands in Thursday trading. The company now has a market cap of 4.90B USD and an enterprise value of about $4.23B. Its current market price is $74.93, marking an increase of 0.79% compared to the previous close of $74.34. The 52 week high reached by this stock is $94.06 whilst the lowest price level in 52 weeks is $38.32. The script in recent trading has seen the stock touch a high of $76.82 and a low of $73.80.
BlackLine Inc. (BL) has a 20-day trading average at $84.93 and the current price is -20.34% off the 52-week high compared with 95.54% distance from its 52-week low. The 50-day simple moving average of the closing price is $82.80 and its 200-day simple moving average is $63.64. If we look at the stock’s price movements over the week, volatility stands at 6.99%, which decreases to 4.25% over 1 month. It is also key to look at other market indicators of price movement for the stock, where we see that the relative strength index (RSI) is at 36.20 to suggest the stock is neutral.
The consensus objective for the share price is $80.43, suggesting that the stock has a potential upside of 6.84% over the period.
FactSet Research has provided data showing that 10 brokerages have issued ratings for the stock. 2 analysts have rated it as a sell, while 1 advise that it is a overweight. 5 analysts have rated it as a buy and 2 have advised that investors hold their positions. The consensus recommendation rating is Overweight and Wall Street’s advice is for investors to Moderate Buy the stock.
The company shares received a number of brokerage firm price updates over the past month, with the latest being on July 01, 2020 when KeyBanc Capital Markets initiated the stock to “Overweight” and issued a price target of $95. Piper Sandler upgraded the stock to “Overweight” from Neutral on February 14, 2020 at a price target of $60-$78. Oppenheimer upgraded its price target at $75.
The current price level is -12.25%, -9.59%, and 18.00% away from its SMA20, SMA50, and SMA200 respectively, with the BL price moving above the 50-day SMA on August 13. BlackLine Inc. (BL) stock is down -18.40% over the week and -12.17% over the past month. Its price is 45.33% year-to-date and 47.24% over the past year.
The stock last released its quarterly earnings report for quarter ended 6/29/2020, with the company’s earnings per share (EPS) of $0.2 above consensus estimates by $0.09. The company’s next earnings report is expected on 10/29/2020, with forecasts estimating quarterly EPS at $0.11 and $0.47 for whole year. BL’s earnings per share are forecast to grow by 17.50% this year and 10.60% over next year. Expected sales for next quarter are $86.44 million, which analysts say will come at $337.41 million for the current fiscal year and next year at $399.99 million. In addition, estimates put the company’s current quarterly revenue at an average of $85.06 million.
Its 12-month price target is $95.00. To reach the target analysts have set, the stock logically needs to grow 6.84 percent from here. Of course, the average price target is just what the average analysts believe a stock will be worth in the next 52 weeks, and is only one metric. There are analysts with lower targets than the average, including one bearish Wall Street research firm advocating investors to wait for the price to pull back to $45.00, given the recent momentum. And then, on the bullish side of things, one analyst is expecting the stock to peak at $100.00.
Outstanding shares total 56.17M with insiders holding 13.02% of the shares and institutional holders owning 96.80% of the company’s common stock. The company has a return on investment of -3.80% and return on equity of -8.70%. The forward price to earnings ratio is 144.37. The beta has a value of 0.93. Price to book ratio is 10.63 and price to sales ratio is 15.92.
According to a U.S. Securities and Exchange Commission filing, Virtus KAR Small Cap Growth Fund has reduced its position in BlackLine Inc. (BL) to 3,134,403 shares, mirroring a recent drop by 0.00%. Virtus KAR Small Cap Growth Fund dumped 0.0 shares of BlackLine Inc. common stock bringing its total worth to about $278.68 million at the end of recent close, SEC documents show. Virtus KAR Small Cap Growth Fund isn’t the only investment manager who changed stakes and is followed by Vanguard Total Stock Market Index, which added 95443.0 shares to end up with 1,368,614 shares worth $121.68 million. Artisan Small Cap Fund raise their holdings by 19.77% in the company over the course of the most recent quarter. It now holds a 2.14% position in BlackLine Inc. thanks to 1.2 million shares amounting to $107.08 million.