BlackLine price target lowered to $81 from $87 at JMP Securities

JMP Securities lowered the firm’s price target on BlackLine to $81 from $87 and keeps an Outperform rating on the shares following the Q2 results and mixed guidance. While the macro is discouraging in the near-term and competition has picked up versus a couple of years ago, JMP continues to like BlackLine, as over time, advances in AI should really help BlackLine with its mission to orchestrate and automate accounting processes and the company’s co-CEOs are pushing the organization to do better across a number of fronts, the analyst tells investors in a research note.