What To Know About Piper Sandler's Downgrade of BlackLine

Piper Sandler downgraded its rating of BlackLine BL to Underweight with a price target of $60.00, changing its price target from $53.00 to $60.00.

Shares of BlackLine are trading down 2.79% over the last 24 hours, at $60.70 per share.

A move to $60.00 would account for a 1.15% decline from the current share price.

About BlackLine

BlackLine Inc is engaged in providing financial accounting close solutions delivered as Software as a Service (SaaS). The Company's solutions enable its customers to address various aspects of their financial close process including account reconciliations, variance analysis of account balances, journal entry capabilities, and certain types of data matching capabilities. The majority of the revenue of the company is earned in the United States.

About Analyst Ratings

Analysts work in banking and financial systems and typically specialize in reporting for stocks or defined sectors. Analysts may attend company conference calls and meetings, research company financial statements, and communicate with insiders to publish "analyst ratings" for stocks. Analysts typically rate each stock once per quarter.

Some analysts will also offer forecasts for metrics like growth estimates, earnings, and revenue to provide further guidance on stocks. Investors who use analyst ratings should note that this specialized advice comes from humans and may be subject to error.

If you want to keep track of which analysts are outperforming others, you can view updated analyst ratings along with analyst success scores in Benzinga Pro.

This article was generated by Benzinga's automated content engine and reviewed by an editor.