BlackLine price target raised to $60 from $51 at Piper Sandler

Piper Sandler raised the firm’s price target on BlackLine (BL) to $60 from $51 and keeps a Neutral rating on the shares following earnings. The firm said it was “encouraged” by “improving” execution with the third consecutive quarter of a 2% top-line beat vs. the mid-point guide. On the other hand, Piper noted there are early signs of a business model that appears wobbly. The firm told investors that it needs to see a material reversal in fundamentals to have confidence that growth could begin to reaccelerate into 2025.