Analysts fell to the sidelines weighing in on BlackLine Inc (NASDAQ:BL) and Carbonite Inc (NASDAQ:CARB) with neutral ratings,indicating that the experts are neither bullish nor bearish on the stocks.
BlackLine Inc (BL)
In a report released today, Koji Ikeda from Oppenheimer maintained a Hold rating on BlackLine Inc. The company’s shares closed yesterday at $47.01.
Ikeda noted:
“BlackLine reported 3Q revenue and profitability results ahead of consensus and raised guidance which is good, but the business had a soft billings quarter and net revenue retention sequentially declined, which will weigh on the valuation given the unforgiving tech market. Positively, management announced a deepening partnership with SAP, which should help bookings over time, especially internationally, as the SAP sales machine becomes enabled to efficiently sell BlackLine. Bottom line: We won’t reprise our ~35-page Initiation published two weeks ago (10/18/18 at $45.59) in which we view BlackLine as a quality company but started out on the sidelines given the premium valuation. We expect the shares to be under pressure until investors gain comfort that the softness in the 3Q billings was timing related and not fundamental.”
According to TipRanks.com, Ikeda is a 5-star analyst with an average return of 32.7% and a 80.0% success rate. Ikeda covers the Technology sector, focusing on stocks such as Coupa Software Inc, SPS Commerce, and Liveperson.
Currently, the analyst consensus on BlackLine Inc is a Strong Buy with an average price target of $58.33.
See today’s analyst top recommended stocks >>
Carbonite Inc (CARB)
In a report released today, Brian Schwartz from Oppenheimer maintained a Hold rating on Carbonite Inc. The company’s shares closed yesterday at $35.51.
Schwartz said:
“We lower our rating on CARB shares to Perform (from Outperform) and remove our $50 PT. Carbonite had a soft third quarter, and the issues will likely linger over the next several quarters. We think the business results indicate that the overall SMB data management market is cooling relative to earlier this year, as conversion rates for perpetual deals and maintenance are experiencing pressure, and it is not clear that Carbonite will be able to expand sufficiently upmarket or transition the legacy installed base to the cloud fast enough without getting dragged down by the softening premise- based sales near term. This is a new development for the business, and it is likely to instill growth fears on the name, and keep the stock range-bound until resolved.”
According to TipRanks.com, Schwartz is a top 25 analyst with an average return of 25.6% and a 73.2% success rate. Schwartz covers the Technology sector, focusing on stocks such as Ultimate Software, Instructure Inc, and Salesforce.com.
Carbonite Inc has an analyst consensus of Moderate Buy, with a price target consensus of $42.17.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
