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BlackLine (BL) Gets a Hold Rating from BMO Capital

BMO Capital analyst Daniel Jester maintained a Hold rating on BlackLine (BLResearch Report) today and set a price target of $92.00. The company’s shares closed last Friday at $79.94.

According to TipRanks.com, Jester is a 4-star analyst with an average return of 28.8% and a 81.8% success rate. Jester covers the Technology sector, focusing on stocks such as Ceridian HCM Holding, Bill.com Holdings, and Coupa Software.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for BlackLine with a $118.29 average price target, which is a 46.0% upside from current levels. In a report released today, Bank of America Securities also maintained a Hold rating on the stock with a $105.00 price target.

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Based on BlackLine’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $109 million and GAAP net loss of $13.74 million. In comparison, last year the company earned revenue of $90.16 million and had a GAAP net loss of $8.75 million.

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BlackLine, Inc. operates a cloud-based software platform which is designed to transform accounting and finance operations for organizations of all types and sizes. Its scalable platform supports critical accounting processes such as the financial close, account reconciliations, intercompany accounting, and controls assurance. The company was founded by Therese Tucker in May 2001 and is headquartered in Woodland Hills, CA.

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