BlackLine (BL) PT Lowered to $56 at KeyBanc
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Price: $29.47 -2.22%
Rating Summary:
6 Buy, 11 Hold, 3 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 10 | Down: 7 | New: 98
Rating Summary:
6 Buy, 11 Hold, 3 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 10 | Down: 7 | New: 98
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KeyBanc analyst Brent Bracelin lowered the price target on BlackLine (NASDAQ: BL) to $56.00 (from $65.00) while maintaining a Overweight rating. Despite positive feedback at the user conference this week, KeyBanc lowered 2019 revenue estimates by $17.7M.
Despite lowering our revenue estimates for 2019 by $17.7M to $272.5M on a conservative 20% growth assumption, KeyBanc raised EPS by a penny on improving margins tied to the elimination of a perpetual fee payment to SAP.
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