DA Davidson has revised its target price for BlackLine (BL, Financial) to $55, down from the previous $58, while maintaining a Buy rating on the stock. This adjustment is part of a comprehensive update on the firm's Software group coverage.
The revision reflects DA Davidson's revised economic assumptions, which now predict one or two quarters of negative GDP growth in the United States for this year. These expectations are impacting growth projections and have already resulted in decreased valuations for companies within the sector.
The firm also highlights a slowdown in both consumer activity and corporate investment as potential outcomes for the near future, influenced by ongoing tariff issues, among other factors. This economic caution suggests challenges ahead for the market over the coming quarters.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 10 analysts, the average target price for BlackLine Inc (BL, Financial) is $62.80 with a high estimate of $80.00 and a low estimate of $40.00. The average target implies an upside of 38.68% from the current price of $45.28. More detailed estimate data can be found on the BlackLine Inc (BL) Forecast page.
Based on the consensus recommendation from 14 brokerage firms, BlackLine Inc's (BL, Financial) average brokerage recommendation is currently 2.6, indicating "Hold" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
Based on GuruFocus estimates, the estimated GF Value for BlackLine Inc (BL, Financial) in one year is $68.14, suggesting a upside of 50.48% from the current price of $45.2825. GF Value is GuruFocus' estimate of the fair value that the stock should be traded at. It is calculated based on the historical multiples the stock has traded at previously, as well as past business growth and the future estimates of the business' performance. More detailed data can be found on the BlackLine Inc (BL) Summary page.
