KeyBanc analyst Brent Bracelin lowered his price target on BlackLine (BL) to $56 but maintained an Overweight rating, citing a favorable risk/reward and a strong competitive moat in cloud accounting. In a research note to investors, Bracelin says that despite positive feedback at the user conference this week, he is lowering our 2019 revenue estimates by $17.7M based on risks that could temper 2019 growth but provide a stronger foundation for upside in 2020, including SAP's (SAP) shift to a revenue-share model starting in Q4 and sales investments by new leadership that may take more time given several new hires joined in late summer.

Berenberg raised the firm's price target on SAP to EUR 195 from EUR 190 and keeps a Buy rating on the shares.

HSBC raised the firm's price target on SAP to EUR 200 from EUR 180 and keeps a Buy rating on the shares. The company's Q1 report was "solid even if not spectacular" as it sees continued strong momentum, the analyst tells investors in a research note. The firm says SAP's long-term revenue growth prospects are supported by a shift to cloud combined with monetization of its artificial intelligence opportunity.

Barclays lowered the firm's price target on SAP to $210 from $212 and keeps an Overweight rating on the shares post the Q1 report. SAP is well positioned for artificial intelligence, but the near-term financial impact is likely to be limited, while any restructuring creep should drive further EBIT upside, files to sell common stock, no amount given