In a report released yesterday, Brent Bracelin from KeyBanc reiterated a Buy rating on BlackLine Inc (BL), with a price target of $60. The company’s shares closed yesterday at $53.28.
Bracelin wrote:
“We are raising estimates slightly and increasing our price target to $60 from $56 on the SAP opportunity. Maintain at Overweight. New SAP partnership is progressing well.”
According to TipRanks.com, Bracelin is a top 25 analyst with an average return of 29.0% and a 77.7% success rate. Bracelin covers the Technology sector, focusing on stocks such as Tyler Technologies, Coupa Software Inc, and Salesforce.com.
BlackLine Inc has an analyst consensus of Moderate Buy, with a price target consensus of $54.50.
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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 490.8K.
Based on the recent corporate insider activity of 39 insiders, corporate insider sentiment is negative on the stock.
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BlackLine, Inc. operates a cloud-based software platform which is designed to transform accounting and finance operations for organizations of all types and sizes. Its scalable platform supports critical accounting processes such as the financial close, account reconciliations, intercompany accounting, and controls assurance.
