Bridgeline Digital, Inc. (BLIN) stock rallied in the intraday trading following the announcement of heavy investment in BigCommerce Partnership. BLIN stock saw a push of 17.20% to reach $5.70 a share at the time of this writing. As of this writing, the trading volume was 5,126,083. Bridgeline Digital stock is operating as a digital engagement company in the United States. Let’s take a closer look at recent events of this stock.
What’s Happening?
BLIN stock today announced that they are making heavy investments in their Hawksearch BigCommerce Integration. The purpose behind this is to expand the Bridgeline Digital offering for BigCommerce users. With more than thirty BigCommerce Hawksearch implementations, BLIN stock has invested in dedicated Partner Resource. Furthermore, it invested in the development of new features to build growth for the platform in terms of the user base.
Hawksearch is an AI-based personalization, search, and recommendation application. It optimizes the online buying experience for both B2C and B2C. BLIN stock development team has integrated WooRank’s suite of SEO tools for increased traffic and revenue for Hawksearch’s BigCommerce user-base.
Previous news of BLIN stock:
Last week, BLIN stock did announce that five industry-leading manufacturing companies have selected Hawksearch software for their eCommerce sites. These companies expect that Hawksearch software will increase traffic as well as conversions on their sites. The companies signed the contracts for the deployment of Hawksearch software and service across their B2B eCommerce sites globally. The total worth of these contracts reached approximately $300,000. Hawksearch ability to quickly translates units of measure and easy identification of part numbers makes it ideal for manufactures.
Financial View of BLIN stock:
According to BLIN stock’s third-quarter fiscal 2021 financial results,
- Total revenue increased from $2.6 million in the same prior-year period to $3.4 million in the quarter ended June 30, 2021.
- Gross profit for the BLIN reached USD 2.3 million for the recently reported quarter, 45% up from the prior year same quarter.
- Cost of revenue increased by $1.1 million from prior-year same quarter to reach $1.2 million in the reported quarter
- Bridgeline stock spent $2.9 million in operating expenses in the third quarter of fiscal 2021.
Conclusion:
Investors are responding positively to the recent announcement of heavy investment in BigCommerce Partnership by Bridgeline stock. Recent financial results reflect positive growth in terms of revenue and gross profit.
