Opinions
Stockchase Insights
Blackline Inc.
BL-Q
PARTIAL BUY
Jun 05, 2024
$47.790
Stock price when the opinion was issued
Technology
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TOP PICK
One of the only companies that provides software as a service for finance close management in accounting, insurance and other areas. They have a massive potential market. He would recommend buy one-third around $76, one-third at $66, and another third at $56. His price target is $86.
Yield 0%. (Analysts’ price target is $65.14)
Technology
EPS beat expectations of 47c coming in at 54c. Revenue also beat expectations of $155.12M coming in at $157.5M displaying growth of 13.3%. BL also upped its full year guidance for revenue and EPS which with the upper range better than expectations. BL added 13 customers in the first quarter for a total of 4,411 customers. The quarter and outlook were strong for BL and we would say it as a hold. The share price was under pressure recently as the company announced that it had privately issued a convertible senior note for $600M.
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