Berenberg Starts BlackLine (BL) at Buy
- Wall Street slips off record highs, Tesla drops after fatal crash
- IBM (IBM) Tops Q1 EPS by 14c, Revenue Beats
- Tesla's (TSLA) Musk says data logs from crashed vehicle show Autopilot was not enabled, car did not purchase FSD
- Bitcoin (BTC) Price Fell 20% Off the Highs Over the Weekend as Markets Got 'Too Excited' About Coinbase (COIN), Says Mike Novogratz
- GameStop (GME) CEO Gets the Axe as Ryan Cohen Continues to Make His Mark, Analyst Says Co. Will Likely Look to Tech Sector for New Hires
News and research before you hear about it on CNBC and others. Claim your 1-week free trial to StreetInsider Premium here.
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."
Shares of BlackLine closed at $117.76 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- UPDATE: UPDATE: Wells Fargo Starts FuelCell Energy (FCEL) at Underweight
- UPDATE: Raymond James Starts Rackspace Technology Inc. (RXT) at Outperform
- Santos Ltd. (STO:AU) (SSLZY) PT Raised to AUD7.35 at CLSA
Create E-mail Alert Related CategoriesAnalyst Comments, New Coverage
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!