In a report released yesterday, Brent Bracelin from KeyBanc reiterated a Buy rating on BlackLine Inc (BL), with a price target of $56. The company’s shares closed yesterday at $49.24.
Bracelin observed:
“We are raising our estimates on SAP strength, but see 2019 as a sales transition year that could position BL for accelerating growth in 2020.”
According to TipRanks.com, Bracelin is a top 25 analyst with an average return of 25.6% and a 76.5% success rate. Bracelin covers the Technology sector, focusing on stocks such as Salesforce.com, Everbridge Inc, and Veeva Systems.
BlackLine Inc has an analyst consensus of Moderate Buy, with a price target consensus of $54.50, a 10.7% upside from current levels. In a report issued on February 1, Goldman Sachs also resumed coverage with a Buy rating on the stock with a $53 price target.
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The company has a one-year high of $58.11 and a one-year low of $34.01. Currently, BlackLine Inc has an average volume of 434.1K.
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BlackLine, Inc. provides financial close automation software solutions to the SAP market. It offers finance controls and automation and unified cloud for finance and accounting. The company was founded by Therese Tucker in May 2001 and is headquartered in Woodland Hills, CA.
