BlackLine Inc. (BL, Financial) has received an upgrade from Piper Sandler, moving from an "Underweight" to a "Neutral" stance. The financial services firm has adjusted its price target for the company to $46, a reduction from the previous target of $58.
This decision comes as Piper Sandler recalibrates its model to account for BlackLine's short-term challenges. The stock has experienced a 26% decline year-to-date, prompting the reevaluation. Despite these challenges, Piper Sandler finds BlackLine’s current valuation to be reasonable, suggesting the stock's downside potential is now limited at existing price levels.
