Investors Update: BlackLine, Inc. (NASDAQ:BL)

Financial

BlackLine, Inc. (NASDAQ:BL) stock recently located move of -19.10% off 52-week high price and identified change of 49.10% away from 52-week low price. BL stock has been recorded -6.93% away from 50 day moving average and 6.79% away from 200 day moving average. Moving closer, we can see that shares have been trading 4.40% off 20-day moving average. It has market worth of $2570.98M .

BlackLine, Inc. (NASDAQ:BL), a leading provider of financial automation solutions that enable Continuous Accounting, reported it has entered into a reseller agreement with SAP® (NYSE: SAP). Under the terms of the new agreement, SAP will have the ability to resell BlackLine’s market-leading cloud-based finance and accounting solutions to businesses around the world.

“SAP has been a long-time partner; from very early on, they understood that organizations worldwide could close faster with more control, visibility and confidence by adding BlackLine to their SAP Financials offerings,” said Mario Spanicciati, BlackLine’s chief strategy officer. “It’s a very powerful statement by SAP that they have now decided to sell and support our solution directly.  We believe this new agreement represents an opportunity to expand our global footprint even further.”

BlackLine’s cloud platform complements the functionality provided by SAP ERP Financials solutions, including the SAP S/4HANA® Finance solution, bringing enhanced control and automation to Finance & Accounting departments worldwide.

SAP is adding BlackLine solutions to its pricelist, enabling SAP account executives to sell them worldwide with the same processes, contracts, incentives and conditions as the rest of the SAP portfolio. SAP also will provide customer support.

“We are excited to offer BlackLine’s cloud-based products to help businesses streamline the financial close process by replacing manual, error-prone accounting processes with a controlled, secure, end-to-end solution,” said Martin Naraschewski, senior vice president, general manager, Head of Line of Business Finance for SAP. “This reseller agreement with BlackLine will make it easier than ever for SAP’s global customers to adopt and benefit from leading financial close technology.”

The Services sector company, BlackLine noticed change of 1.36% to $47.01 along volume of 483970 shares in recent session compared to an average volume of 409.69K. The stock observed return of 8.69% in 5 days trading activity. The stock was at -12.46% over one month performance. BL’s shares are at -0.13% for the quarter and driving a 33.36% return over the course of the past year and is now at 43.32% since this point in 2018.

The average volatility for the week at 6.49% and for month was at 5.28%. There are 54.69M shares outstanding and 40.6M shares are floated in market.

Gabriel Smith joined the mosttradedstocks.com, after more than 10 years of experience in writing financial and business news, most recently as Investment Editor and writer. He also has a vast knowledge of stock trading. He earned bachelor degree from Union College with a focus in Business Administration. Wayne is the Senior Editor for mosttradedstocks.com and market movers section. He also holds an MBA from Penn State University He has two daughter and two children.

Email: Gabriel@mosttradedstocks.com 

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