The IBD SmartSelect Composite Rating for BlackLine increased from 94 to 96 Tuesday.
The upgrade means the stock currently tops 96% of all other stocks in terms of key performance metrics and technical strength. History shows the top market performers tend to have a 95 or higher score as they launch their major climbs.
BlackLine broke out earlier, but is now trading about -4% below the prior 60.22 entry from a cup with handle. If a stock you're watching clears a buy point then falls 7% or more below the original entry price, it's considered a failed base. It's best to wait for the stock to form a new consolidation and breakout.
Looking For Winning Stocks? How To Invest In Both Bull And Bear Markets
The stock has a 96 EPS Rating, which means its recent quarterly and annual earnings growth tops 96% of all stocks.
Its Accumulation/Distribution Rating of B shows moderate buying by institutional investors over the last 13 weeks.
The company reported an 18% EPS gain for Q3. Top line growth came in at 10%, down from 11% in the previous quarter.
BlackLine earns the No. 10 rank among its peers in the Computer Software-Special Enterprise industry group. AppLovin, Descartes Systems Group and HubSpot are among the top 5 highly-rated stocks within the group.
