Citi has revised its price target for BlackLine (BL, Financial), reducing it from $70 to $58 while maintaining a Buy rating on the stock. The adjustment comes as the firm approaches the first quarter earnings for the application software sector with a cautious outlook, primarily due to concerns over tariff exposure, potential deal delays, and currency fluctuations affecting full-year forecasts.
The financial institution's chief investment officer survey indicates a minor decrease in anticipated budget growth over the next 12 months, along with increasing negative sentiment towards back-office projects influenced by tariffs. These factors contribute to a wary atmosphere within the sector, particularly impacting companies like BlackLine (BL, Financial) and OneStream (OS), where Citi anticipates continued deal delays into the second quarter.
Conversely, Citi identifies Intapp (INTA) and Vertex (VERX) as more resilient to the current macroeconomic challenges, suggesting they might experience less immediate impact from the prevailing economic conditions.
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 $59.80 with a high estimate of $80.00 and a low estimate of $40.00. The average target implies an upside of 34.56% from the current price of $44.44. 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 $68.04, suggesting a upside of 53.11% from the current price of $44.44. 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.
