Truist lowered the firm’s price target on BlackLine (BL) to $55 from $60 and keeps a Hold rating on the shares. The company reported Q4 with some improvement against its strategic plan but also called out continued FX headwinds and slower deal velocity that caused some opportunities to push into FY25, the analyst tells investors in a research note. While some deals pushed out however, the management noted that its pipeline remains healthy and reiterated that the slowdown does not reflect a weaker broader demand pattern, Truist added.
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Read More on BL:
- Hold Rating on BlackLine Amid Mixed Signals and Growth Concerns
- BlackLine price target lowered to $68 from $74 at Baird
- BlackLine Positioned for Growth: Buy Rating Despite Challenges
- BlackLine price target lowered to $58 from $60 at Piper Sandler
- Positive Outlook on BlackLine Despite Short-Term Challenges: Strategic Partnerships and Pricing Model Shift Highlight Growth Potential
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