BlackLine (BL) PT Lowered to $56 at KeyBanc

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.

You May Also Be Interested In

• Dollarama Inc. (DOL:CN) (DLMAF) PT Raised to Cdn$231 at Bernstein SocGen
• Adobe (ADBE) PT Lowered to $379 at Bernstein SocGen Amid 'Increased Uncertainties'
• National Health Investors (NHI) PT Lowered to $81 at Truist Securities