In a report released today, Brent Bracelin from KeyBanc reiterated a Buy rating on BlackLine Inc (NASDAQ: BL), with a price target of $52. The company’s shares opened today at $45.54.
Bracelin commented:
“We maintain an Overweight stance on BL based on a favorable multiyear growth horizon.”
According to TipRanks.com, Bracelin is a top 25 analyst with an average return of 21.2% and a 76.3% 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 Moderate Buy, with a price target consensus of $48.50.
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Based on BlackLine Inc’s latest earnings release for the quarter ending March 31, the company reported a quarterly GAAP net loss of $7.16 million. In comparison, last year the company had a GAAP net loss of $10.11 million.
Based on the recent corporate insider activity of 41 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.
