In a report released yesterday, Brent Bracelin from KeyBanc maintained a Buy rating on BlackLine Inc (NASDAQ: BL). The company’s shares closed yesterday at $54.73, close to its 52-week high of $57.09.
Bracelin commented:
“We are raising our PT to $65 from $52 rolling forward to CY20 estimates. Our new $65 PT is based on a 38x EV/CY22 normalized FCF estimates, discounted back 15%. We maintain a bullish view on BL based on a widening competitive moat and a large TAM that gives it the potential to create a $1B+ revenue franchise over the next five years.”
According to TipRanks.com, Bracelin is a top 25 analyst with an average return of 27.7% and a 78.7% success rate. Bracelin covers the Technology sector, focusing on stocks such as Tyler Technologies, Salesforce.com, and Everbridge Inc.
BlackLine Inc has an analyst consensus of Strong Buy, with a price target consensus of $55, implying a 0.5% upside from current levels. In a report issued on September 14, JMP Securities also maintained a Buy rating on the stock with a $60 price target.
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The company has a one-year high of $57.09 and a one-year low of $31.53. Currently, BlackLine Inc has an average volume of 363.2K.
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.
