BlackLine price target raised to $59 from $57 at Citi

Citi raised the firm’s price target on BlackLine to $59 from $57 and keeps a Neutral rating on the shares. Coming out of Q2 earnings for application software, the analyst sees signs of stabilization yet still minimal upside to growth outlooks so far. The firm believes the narrative may shift back towards the next upside drivers to estimates and the outlook with potential for artificial intelligence to drive this along with other idiosyncratic factors.