Berenberg Starts BlackLine (BL) at Buy

March 4, 2021 6:16 AM EST
Get Alerts BL Hot Sheet
Price: $115.14 -3.32%

Rating Summary:
    9 Buy, 3 Hold, 1 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 18 | Down: 20 | New: 68
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Berenberg analyst Andrew DeGasperi initiates coverage on BlackLine (NASDAQ: BL) with a Buy rating and a price target of $150.00.

The analyst comments "The current wave of digital transformation projects that target previously underinvested enterprise functions like accounting is accelerating and the COVID-19 pandemic has added impetus to this trend. We believe the market underappreciates BlackLine’s extensive best-in-class software, which targets a specific business function within the CFO office. Further, while BlackLine shares are trading at 14x our 2022E sales estimates, we believe its valuation remains attractive on a growth-adjusted basis."

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 $117.76 yesterday.

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