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BL - BlackLine: Year To Date Underperformance Presents Good Buying Opportunity
BlackLine Inc.
BlackLine has been a big underperformer so far this year, with the stock down over 10% compared to the market being up over 20%.
Q2 results were strong with revenue growth of 23% and operating margins continuing to show leverage.
Valuation has pulled back throughout the year and currently stands at 11.5x 2023 revenue. Given the highly recurring nature of the business, revenue growth could end up being quite conservative.