Bridgeline Digital Inc (NASDAQ: BLIN) is having an incredibly strong start to the trading session this morning, and for good reason. The company announced the acquisition of a large client, exciting investors who are pushing the stock up. Today, we’ll talk about:
- The new customer;
- what we’re seeing from BLIN stock as a result; and
- what we’ll be watching for ahead.
BLIN Stock Climbs On Client Acquisition
As mentioned above, Bridgeline Digital is having a great day in the market today after announcing the acquisition of a new customer. The news came by way of press release in the pre-market hours.
In the release, BLIN announced that its OrchestraCMS was chosen to develop and power an internal web application for managing one of the top five largest convenience store chaings. The company said that the quality control web application was built natively on Salesforce using OrchestraCMS content management.
Moreover, the application will be used by the chain’s operating team when visiting individual locations. This will provide quality control checks and give the company the ability to plan and prioritize their visit as well as receive on-site tasks assigned to them by management.
The company said that the combined license and services are valued at more than $300,000 and the engagement is an extension of the global chain’s previous project with Orchestra CMS. In the past, this chain used the CMS to provide store operators a complete end-to-end operations portal for managing their business.
In a statement, Doug Girvin, EVP of Strategy for BLIN, had the following to offer:
OrchestraCMS allows our customers to create a hub of engagement for their internal teams and processes.
The native integration with Salesforce, allows the customer’s application to easily access all of their business data, processes and applications and combining it with relevant content in such a way that will streamline and simplify their quality control operating procedures.
The above statement was followed up by Ari Kahn, CEO at BLIN. Here’s what he had to say:
The Bridgeline Unbound platform aggregates best-in-class marketing and eCommerce technology to enable multi-unit businesses to provide an optimal customer experience at a local level.
We are excited to expand upon the original operational portal to provide the customer with the ability to manage the quality control of their internal business operations directly from the OrchestraCMS platform.
What We’re Seeing From The Stock
One of the first lessons that we learn when we start to dive into the market is that the news leads to moves. When it comes to Bridgeline, the news proved to be overwhelmingly positive.
After all, the announcement is telling investors that the company just landed a deal that’s worth more than $300,000. That will provide a nice revenue boost for the company with with under a $5 million market cap.
So, it’s not surprising to see that excited investors are pushing the stock on a run for the top. As is just about always the case, our partners at Trade Ideas were the first to alert us to the gains. Currently (10:34), BLIN is trading at $0.27 per share after a gain of $0.068 per share or 33.82% thus far today.
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What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will continue to keep a close eye on BLIN. In particualr, we’re interested in following the story surrounding the company’s continued work to bring growth to investors by bringing its products and services to new customers while expanding relationships with existing customers.
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