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.
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Read More on BL:
- BlackLine Announces Fourth Quarter and Full Year 2023 Financial Results
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- 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
