Timing, Fundamentals, and Diversification of BlackLine Inc. (BL)

BlackLine Inc. (NASDAQ: BL) closed the day trading at $63.96 up 1.90% from the previous closing price of $62.77. In other words, the price has increased by $+1.19 from its previous closing price. On the day, 721301 shares were traded. BL stock price reached its highest trading level at $63.97 during the session, while it also had its lowest trading level at $60.86.

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For a better understanding of BL, let’s look at its different ratios. It provided that stocks Price–to–Cash (P/C) ratio for the trailing twelve months (TTM) is standing at 3.79 whereas its Price-to-Free Cash Flow (P/FCF) for the term is 90.51. For the most recent quarter (mrq), Quick Ratio is recorded 3.40 and its Current Ratio is at 3.40. In the meantime, Its Debt-to-Equity ratio is 12.39 whereas as Long-Term Debt/Eq ratio is at 12.38.

Upgrades & Downgrades

In addition, analysts’ ratings and any changes thereto give investors an idea of the stock’s future direction. In the most recent recommendation for the company, Citigroup on January 18, 2023, Downgraded its rating to Sell and sets its target price to $63 from $58 previously.

On January 09, 2023, Piper Sandler Downgraded its rating to Neutral which previously was Overweight and also lowered its target price recommendation from $70 to $66.

On October 21, 2022, Goldman started tracking the stock assigning a Sell rating and target price of $57.Goldman initiated its Sell rating on October 21, 2022, with a $57 target price.

Insider Transactions:

The insider trade also gives investors a glimpse into the future direction of stock prices, which can be beneficial to investors. A recent insider transaction in this stock occurred on Mar 02 when Partin Mark sold 5,000 shares for $70.00 per share. The transaction valued at 350,000 led to the insider holds 164,539 shares of the business.

Partin Mark sold 10,000 shares of BL for $691,557 on Mar 01. The Chief Financial Officer now owns 164,539 shares after completing the transaction at $69.16 per share. On Mar 01, another insider, Unterman Thomas, who serves as the Director of the company, sold 448 shares for $68.31 each. As a result, the insider received 30,603 and left with 52,583 shares of the company.

Valuation Measures:

For the stock, the TTM Price-to-Sale (P/S) ratio is 7.79 while its Price-to-Book (P/B) ratio in mrq is 34.20.

Stock Price History:

Over the past 52 weeks, BL has reached a high of $79.23, while it has fallen to a 52-week low of $48.73. The 50-Day Moving Average of the stock is 69.96, while the 200-Day Moving Average is calculated to be 66.74.

Shares Statistics:

Over the past 3-months, BL traded about 466.74K shares per day on average, while over the past 10 days, BL traded about 585.59k shares per day. A total of 59.89M shares are outstanding, with a floating share count of 55.09M. Shares short for BL as of Jan 12, 2023 were 3.88M with a Short Ratio of 4.50M, compared to 3.95M on Dec 14, 2022. Therefore, it implies a Short% of Shares Outstanding of 6.48% and a Short% of Float of 7.01%.

Earnings Estimates

Current recommendations for the stock of the company come from 14 analysts. On average, analysts expect EPS of $0.17 for the current quarter, with a high estimate of $0.18 and a low estimate of $0.15, while EPS last year was $0.08. The consensus estimate for the next quarter is $0.11, with high estimates of $0.18 and low estimates of $0.06.

Analysts are recommending an EPS of between $0.47 and $0.44 for the fiscal current year, implying an average EPS of $0.45. EPS for the following year is $0.57, with 15 analysts recommending between $0.78 and $0.27.

Revenue Estimates

12 analysts predict $139.61M in revenue for the current quarter. It ranges from a high estimate of $141M to a low estimate of $138M. As of the current estimate, BlackLine Inc.’s year-ago sales were $115.33M, an estimated increase of 21.10% from the year-ago figure. For the next quarter, 11 analysts are estimating revenue of $142.2M, an increase of 18.30% less than the figure of $21.10% in the same quarter last year. There is a high estimate of $147.5M for the next quarter, whereas the lowest estimate is $137.7M.

A total of 16 analysts have provided revenue estimates for BL’s current fiscal year. The highest revenue estimate was $524M, while the lowest revenue estimate was $521M, resulting in an average revenue estimate of $522.52M. In the same quarter a year ago, actual revenue was $425.71M, up 22.70% from the average estimate. Based on 16 analysts’ estimates, the company’s revenue will be $608.66M in the next fiscal year. The high estimate is $635.5M and the low estimate is $559M. The average revenue growth estimate for next year is up 16.50% from the average revenue estimate for this year.