Baird Starts BlackLine (BL) at Outperform
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Baird initiates coverage on BlackLine (NASDAQ: BL) with a Outperform rating and a price target of $33.00.
Analyst Steven Ashley commented, "We are initiating coverage of BlackLine with an Outperform rating given the company’s above-average long-term growth prospects. BlackLine is the clear leader in a large emerging market, whose products feature a compelling value proposition. Specifically, BlackLine “automates” portions of the financial close process (i.e., closing the books), freeing up valuable accounting resources which produces a hard-dollar cost savings. Meaning a portion of the BlackLine ROI is tangible, something rare and powerful in the software world. Increased speed and accuracy further enhance the value proposition."
Shares of BlackLine closed at $27.75 yesterday.
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