BlackLine price target raised to $86 from $81 at JMP Securities

JMP Securities raised the firm’s price target on BlackLine (BL) to $86 from $81 and keeps an Outperform rating on the shares after attending the company’s annual Beyond the Black user conference. While many of its initiatives will take time to have a visible impact on the model, the firm continues to like BlackLine as an excellent opportunity for capital appreciation, as BlackLine offers a powerful suite of invoice-to-cash and record-to-report solutions that are now even easier for customers to access with Studio360, and it addresses a a large market opportunity estimated at $45B, the analyst tells investors in a research note.