Citigroup raised the price target for the BlackLine Inc. (NASDAQ:BL) stock from “a Neutral” to “a Sell”. The rating was released on January 18, 2023, according to finviz. We previously noted in another research note published on January 09, 2023 by Piper Sandler that downgraded the stock from an Overweight to a Neutral with a price target of $66 for BL stock. The research report from Goldman has initiated the stock to Sell, with a price target set at $57. The stock was downgraded by Berenberg, who disclosed in a research note on October 19, 2022, from Buy to Hold and set the price objective to $60. In their research brief published September 23, 2022, Credit Suisse analysts initiated the BlackLine Inc. stock to Neutral with a price target of $75.
The latest trade, Performances and Moving Averages give us the following Picture
The share price of BlackLine Inc. (NASDAQ:BL) raised 0.91% to close Friday’s market session at $66.75, higher as compared to yesterday’s close. The stock price fluctuated between $65.46 and $66.97 throughout the trading session with the volume trading being 731503 shares, which represented a significant variation when compared to the three months average volume of 470.15K shares. The firm’s stock price fluctuated 10.31% within the last five trades and -9.80% within the last 30 trades, which was a significant change from the beginning of this year. Despite the fact that the share price decreased -4.45% in the last 6 months and -5.97% was subtracted to its value over the previous 3 months. BL stock is trading at a margin of -1.64%, -4.55% and 0.07% apart from the 20-Day, 50-Day and 200-Day Simple Moving Average prices.
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As of the close of trading, BL deals in the Technology domain. The stock is trading -15.75 percent below its 52-week high and 36.98 percent above its 52-week low. For example, looking both at the price and the high and low measurements of 52 weeks will give you a clearer picture of the direction the price is heading. The firm’s Weighted Alpha is -9.51. A positive weighted alpha indicates the firm has done well over the course of the year, whereas one below 0 indicates that the firm has done poorly.
What Does BlackLine Inc.’s Profitability and Valuation Ratios Tell Us About the Stock?
With regard to the profitability of the company, the operating margin is currently at -10.70 percent and the profit margin is -5.60 percent, and the company has reported a gross margin of 75.30 percent. The profit margin, also known as the revenue ratio or gross profit ratio, is an efficiency figure used to estimate the business’s profitability by comparing net income and sales. The higher the number, the more profits are generated for the company and vice versa.
The stock’s market cap achieved a total value of $4.25 billion as of the last trading session. Market capitalization is the total value of all outstanding shares of a corporation and it is used to measure a company’s market value. The price-to-earnings ratio is a method of assessing corporate values by comparing them to their per-share profit. Forward P/E stands at 57.39. Forward price-to-earnings is calculated using predicted earnings for the next financial year’s P/E determination. The stock has achieved an effective Price-to-Sales Ratio of 8.13 that mirrors the cost to be found for sales by the market. The firm managed a Price-to-Book ratio of 35.70, which equates the market value of a stock with its book value.
Is Insider Trading a Real Thing?
Partin Mark, the Chief Financial Officer at BlackLine Inc. (BL) has sold 5,000 shares of firm on Mar 02 at a price of $70.00 against the total amount of $0.35 million. In another inside trade, Partin Mark, Chief Financial Officer of BlackLine Inc. (NASDAQ:BL) sold 10,000 shares of the firm on Mar 01 for a total worth of $0.69 million at a price of $69.16. An inside trade which took place on Mar 01, Director of BlackLine Inc. Unterman Thomas sold 448 shares of firm against total price of $30603.0 at the cost of $68.31 per share.