Baird Starts BlackLine (BL) at Outperform

Baird initiates coverage on BlackLine (NASDAQ: BL) with a Outperform rating and a price target of $33.00.

Analyst Steven Ashley commented, "We are initiating coverage of BlackLine with an Outperform rating given the company’s above-average long-term growth prospects. BlackLine is the clear leader in a large emerging market, whose products feature a compelling value proposition. Specifically, BlackLine “automates” portions of the financial close process (i.e., closing the books), freeing up valuable accounting resources which produces a hard-dollar cost savings. Meaning a portion of the BlackLine ROI is tangible, something rare and powerful in the software world. Increased speed and accuracy further enhance the value proposition."

For an analyst ratings summary and ratings history on BlackLine click here. For more ratings news on BlackLine click here.

Shares of BlackLine closed at $27.75 yesterday.

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