BL Stock Summary and Trading Ideas (Blackline | NASDAQ:BL)

BlackLine Inc is engaged in providing financial accounting close solutions delivered as Software as a Service (SaaS). The Company's solutions enable its customers to address various aspects of their financial close process including account reconciliations, variance analysis of account balances, journal entry capabilities, and certain types of data matching capabilities. The majority of the revenue of the company is earned in the United States.

Blackline trades on the NASDAQ stock market under the symbol BL.

As of April 19, 2024, BL stock price declined to $57.37 with 644,505 million shares trading.

BL has a beta of 1.65, meaning it tends to be more sensitive to market movements. BL has a correlation of 0.29 to the broad based SPY ETF.

BL has a market cap of $3.55 billion. This is considered a Mid Cap stock.

Last quarter Blackline reported $156 million in Revenue and $.69 earnings per share. This beat revenue expectation by $1 million and exceeded earnings estimates by $.14.

In the last 3 years, BL stock traded as high as $135.00 and as low as $47.27.

The top ETF exchange traded funds that BL belongs to (by Net Assets): IJR, VTI, VB, IWM, VBK.

BL has underperformed the market in the last year with a price return of -7.6% while the SPY ETF gained +21.2%. BL has also underperformed the stock market ETF in the last 3 month and 2 week periods returning -4.1% and -7.8%, respectively, while the SPY returned +3.0% and -4.5%, respectively.

BL support price is $56.26 and resistance is $59.44 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that BL stock will trade within this expected range on the day.