Citi lowered the firm’s price target on BlackLine to $57 from $60 and keeps a Neutral rating on the shares. The company reported a “mostly solid” Q4 but guided 2024 revenue below consensus on both a shift of services sales to partners and conservatism on the impact of recent organization shifts, the analyst tells investors in a research note. The firm wants increased confidence in the growth outlook and deal environment before recommending the shares.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See today’s best-performing stocks on TipRanks >>
Read More on BL:
- BlackLine Announces Fourth Quarter and Full Year 2023 Financial Results
- BlackLine names Sumit Johar as chief information officer
- Is BL a Buy, Before Earnings?
- BlackLine Announces Date for Fourth Quarter and Full Year 2023 Earnings Release and Conference Call
- BlackLine price target lowered to $60 from $65 at Citi