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BL

BlackLine

$54.23

1.23 (2.32%)

06:18
11/26/19
11/26
06:18
11/26/19
06:18

BlackLine initiated with a Neutral on balanced risk/reward at Piper Jaffray

Piper Jaffray analyst Brent Bracelin last night initiated coverage of BlackLine with a Neutral rating and $60 price target. The analyst sees a "balanced" risk/reward profile after shares have rebounded 44% off the 52-week lows. He believes further improvement in billings and RPO growth are required to justify further multiple expansion.

  • 02

    Dec

  • 09

    Dec

BL BlackLine
$54.23

1.23 (2.32%)

02/01/19
GSCO
02/01/19
INITIATION
Target $53
GSCO
Buy
BlackLine resumed with a Buy at Goldman Sachs
Goldman Sachs analyst Christopher Merwin resumed coverage of BlackLine with a Buy rating and $53 price target. The analyst believes the company is one of the best ways to invest in the digitization of financials theme. He says BlackLine is well positioned to further penetrate a nearly $14B total addressable market.
07/02/19
GSCO
07/02/19
DOWNGRADE
Target $41
GSCO
Sell
BlackLine downgraded to Sell from Buy at Goldman Sachs
Goldman Sachs analyst Christopher Merwin double downgraded BlackLine to Sell from Buy and lowered his price target for the shares to $41 from $57. Despite being the leading provider of financial close accounting solutions in a $14B total addressable market, billings growth for Blackline has decelerated to the high-teens for the past three quarters, Merwin tells investors in a research note. This is below the 22% revenue growth that the Street currently has modeled for fiscal 2020, adds the analyst. Without a clear catalyst for a reacceleration in billings growth, Merwin thinks consensus revenue growth for next year may be difficult to achieve. Further, he believes Blackline's core product, a seat-based model, limits the ability for upsell.
10/04/19
FANA
10/04/19
INITIATION
Target $55
FANA
Outperform
BlackLine initiated with an Outperform at First Analysis
First Analysis analyst Terry Kiwala initiated BlackLine with an Outperform rating and a price target of $55, saying he believes the company can grow its revenue by over 20% over the medium term while it also continues to improve the operating leverage of the business. The analyst also calls BlackLine the "leader in financial automation software", noting its growth potential stems from greater awareness for its services among enterprise and middle-market firms as well as from referrals from its partners.
11/25/19
PIPR
11/25/19
INITIATION
Target $60
PIPR
Neutral
BlackLine initiated with a Neutral at Piper Jaffray
Piper Jaffray analyst Brent Bracelin initiated coverage of BlackLine with a Neutral rating and $60 price target.

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BEDU

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