(Updated - September 28, 2026 7:17 AM EDT)

DA Davidson analyst Lucky Schreiner downgraded BlackLine (NASDAQ: BL) from Neutral to Underperform, PT $23.00.

The analyst comments "We are downgrading BL from Neutral to UNDERPERFORM, given expectations for incremental competition from frontier labs to remain a headwind. Previously, BL has faced slipped deals as customers evaluate build vs buy decisions, limiting upside to numbers. DEN expert feedback notes enterprises are recently finding rapid ROI through frontier models while niche vertical AI startups are more relevant today. This increases the risk customers do not adopt BL's premium AI solutions. We are less constructive towards BL meeting expectations for accelerating growth and reduce our FY27 estimates."

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Shares of BlackLine closed at $27.99 yesterday.

Analyst Comments Downgrades