BlackLine Inc (NASDAQ: BL): Is It A Buying Opportunity Again?

After Hours

After-hours and pre-market trading may carry slightly higher risks than regular market hours. As issuers often announce important financial information outside regular trading hours, extended-hours trading may result in wider spreads for a particular security. That is because extended-hours trading may result in lower liquidity and higher volatility. The stock was recently discussed on Yahoo Finance as it revealed that BlackLine Announces Date for Fourth Quarter and Full Year 2023 Earnings Release and Conference Call.

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Stocks Info

BL belongs to the Technology sector of the NASDAQ while operating in the Software – Application industry. At the end of the last regular session, the stock closed at $59.91 and fluctuated between $60.32 as its day high and $58.11 as its day low. The current market capitalization of BlackLine Inc is $3.67B. A total of 0.53 million shares were traded on the day, compared to an average of 506.22K shares.

Insider Activity

Investors also take into account insider trades in predicting how the stock will perform in the future. During the recent three months, BL has seen 0 BUY and 1 SELL insider trades, representing the acquisition of 0 and the disposition of 5,000 shares. Over the last 12 months, there were 27 BUYs and 49 SELLs from insiders. Insiders purchased 346,926 shares during that period but sold 163,869.

In the most recent transaction, Unterman Thomas sold 750 shares of BL for 60.00 per share on Feb 01. After the transaction, the Director now owns 51,470 company shares. In a previous transaction on Jan 02, Unterman Thomas sold 750 shares at 60.58 per share. BL shares that Director owns now total 52,220.

Among the insiders who sold shares, Woodhams Mark disposed of 4,072 shares on Dec 15 at a per-share price of $62.67. This resulted in the Chief Revenue Officer holding 88,542 shares of BL after the transaction. In another insider transaction, Unterman Thomas sold 750 shares at $60.00 per share on Dec 01. Company shares held by the Director now total 52,970.

While price targets are rarely accurate, they tend to exert some kind of influence from time to time and are often taken into account by investors. According to analysts who have offered 12-month price targets for BL in the last 3 months, the mean price target is $61.21 with high estimates of $81.00 and low estimates of $47.00. In terms of 52-week highs and lows, BL has a high of $77.00 and a low of $47.26.

As of this writing, BL has an earnings estimate of $0.55 per share for the current quarter. EPS was calculated based on a consensus of 13 estimates, with a high estimate of $0.57 per share and a lower estimate of $0.53. The company reported an EPS of $0.41 in the last quarter, which was 41.40% higher than expectations of $0.29.

Balance Sheet Annually/Quarterly

An organization’s balance sheet depicts the assets and liabilities it has, as well as the amount of equity invested. Investors can measure a company’s prospects by calculating its financial ratios using this information. BL’s latest balance sheet shows that the firm has $1.20B in Cash & Short Term Investments as of fiscal 2021. There were $1.13B in debt and $322.58M in liabilities at the time. Its Book Value Per Share was $3.52, while its Total Shareholder’s Equity was $353.74M.

Analysts Opinion

There is a slight risk associated with trading before and after the market open. Due to lower liquidity and higher volatility, extended-hours trading may result in wider spreads on particular security due to the release of critical financial information after regular trading hours. Currently, 0 analysts are providing their opinions on the stock. On a scale of 1 to 5, with 1 being Sell and 5 being Buy, the average analyst rating for BL is Buy with a score of 3.07.

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