BlackLine price target lowered to $70 from $80 at BTIG

BTIG analyst Matt VanVliet lowered the firm’s price target on BlackLine to $70 from $80 but keeps a Buy rating on the shares. The company’s Q2 revenue was in line with estimates but billings and RPO performance, plus somewhat muted forward commentary, are reflective of the impacts of the macro on slowing enterprise decision- making and mid-market cost-cutting, the analyst tells investors in a research note.