Oppenheimer Reiterates Outperform Rating on BlackLine (BL) Following Analyst Day

March 10, 2021 6:58 AM EST
Get Alerts BL Hot Sheet
Price: $119.09 +0.33%

Rating Summary:
    9 Buy, 3 Hold, 1 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 17 | Down: 13 | New: 41
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Oppenheimer analyst Koji Ikeda reiterated an Outperform rating and $160.00 price target on BlackLine (NASDAQ: BL) following the company's analyst day. BlackLine management provided more transparency and an update on the strategy, financials, differentiation, and technology roadmap. Management also reaffirmed its 2021 revenue guidance, which implies above average industry growth and share gains.

Ikeda sees BlackLine's business in a strong position to benefit from an increase in SaaS back-office spending in the enterprise market that is expected in 2021 from a cyclical recovery.

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 $110.13 yesterday.

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