Oppenheimer analyst Koji Ikeda maintained a Hold rating on BlackLine Inc (BL) today. The company’s shares closed yesterday at $48.12.
Ikeda wrote:
“Last week, we attended BlackLine’s annual InTheBlack London conference for its European customers and hosted investor meetings with CFO Mark Partin. Overall, we came away positive on the growth strategy, market positioning, and expanding partner channel. We detected high satisfaction levels during our customer and partner conversations, a data point that BlackLine’s vision and technology appear aligned with end-market demand. Bottom line: Over the past year, BlackLine scaled up its senior leadership team, began executing its refreshed go-to-market strategy, and expanded its partnership with SAP, which are the right things to do to drive the next leg of growth for the business, but are still early, in our view. We remain on the sidelines for now on BL shares given the elevated near-term execution risks.”
According to TipRanks.com, Ikeda is a 5-star analyst with an average return of 36.5% and a 93.9% success rate. Ikeda covers the Technology sector, focusing on stocks such as Coupa Software Inc, SPS Commerce, and Liveperson.
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 472.4K.
Based on the recent corporate insider activity of 37 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.
