BlackLine (BL) PT Lowered to $56 at KeyBanc
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Get Alerts BL Hot Sheet
Price: $34.37 +8.90%
Rating Summary:
6 Buy, 10 Hold, 4 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 12 | Down: 11 | New: 48
Rating Summary:
6 Buy, 10 Hold, 4 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 12 | Down: 11 | New: 48
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KeyBanc analyst Brent Bracelin lowered the price target on BlackLine (NASDAQ: BL) to $56.00 (from $65.00) while maintaining a Overweight rating. Despite positive feedback at the user conference this week, KeyBanc lowered 2019 revenue estimates by $17.7M.
Despite lowering our revenue estimates for 2019 by $17.7M to $272.5M on a conservative 20% growth assumption, KeyBanc raised EPS by a penny on improving margins tied to the elimination of a perpetual fee payment to SAP.
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