BlackLine Inc (BL) Has a New Rating from Oppenheimer


BlackLine Inc (NASDAQ: BL) received a Hold rating from Oppenheimer analyst Koji Ikeda today. The company’s shares opened today at $45.12.

Ikeda noted:

“BlackLine is a best-of-breed Accounting-as-a-Service supplier that is disrupting the accounting management opportunity. Its solutions enable enterprises and midmarket organizations to optimize accounting operations by ingesting general ledger (GL) data from many different data sources (spreadsheets, ERPs, etc.) for processing, verification, compliance, visibility, analytics, and intelligence, with fewer errors and at a fraction of the time required by legacy on-premise applications and/or spreadsheets. BlackLine’s category leadership and end-to-end suite of accounting automation applications, with high satisfaction levels, should enable future market share gains and deeper customer penetration, attractive traits. Bottom line: We are positive on BlackLine’s long-term opportunity and visionary management team, but think BL shares are fairly valued at this time.”

According to TipRanks.com, Ikeda is a 5-star analyst with an average return of 35.9% and a 84.4% 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.

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The company has a one-year high of $58.11 and a one-year low of $31.53. Currently, BlackLine Inc has an average volume of 390.6K.

Based on the recent corporate insider activity of 54 insiders, corporate insider sentiment is negative on the stock.

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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.

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