Piper Sandler Reiterates Neutral Rating on BlackLine (BL)

Piper Sandler analyst Brent Bracelin reiterated a Neutral rating and $60.00 price target on BlackLine (NASDAQ: BL).

The analyst commented, "Coming out of the analyst day and user conference keynote, we took note of the breadth of innovation, the shift to platform + consumption pricing, and the unveiling of a new 3-5 year target financial model. While we view the various changes as a step in the right direction, we believe 2025 will be largely a transition year as we wait for the culmination of GTM, product, and pricing/packaging changes to bear fruit. We remain on the sidelines given a material reversal in fundamentals could still be several quarters away and near-term execution risk remains heightened amid a CFO transition. Maintain at Neutral with $60 PT."

For an analyst ratings summary and ratings history on BlackLine click here. For more ratings news on BlackLine click here.

Shares of BlackLine closed at $57.70 yesterday.

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