Cantor Fitzgerald analyst Matthew VanVliet initiated coverage of BlackLine (BL) with a Neutral rating and $58 price target The bull case for BlackLine is built on its ability to post healthy revenue growth, expand non-GAAP operating margins, and generate strong free cash flow, all underpinned by innovative product enhancements, such as Studio360, and these factors suggest that BlackLine is well-positioned to capitalize on the growing demand for financial automation and digital transformation within the finance industry, the analyst tells investors in a research note. The early market reception of Studio360 is encouraging, Cantor says.
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