BlackLine (BL) PT Lowered to $30 at DA Davidson

DA Davidson analyst Lucky Schreiner lowered the price target on BlackLine (NASDAQ: BL) to $30.00 (from $35.00) while maintaining a Neutral rating.

The analyst commented, "We recently conducted field checks on BL which make us incrementally confident around BL's defensibility, and we came away with a greater appreciation of BL's competitive differentiation. We also heard generally positive feedback towards the platform pricing shift. That being said, we came away less enthusiastic around growth upside for BL longer term from AI...We maintain our NEUTRAL rating as we see future growth adequately priced into the stock."

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