William Blair analyst Jake Roberge has maintained their neutral stance on BL stock, giving a Hold rating on April 23.
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Jake Roberge’s rating is based on BlackLine’s recent performance and strategic adjustments. The company delivered strong first-quarter results, with revenue aligning with market expectations and operating income surpassing them. However, the decision to lower the revenue guidance for 2025 reflects management’s cautious approach to potential macroeconomic uncertainties, despite no current signs of impact on bookings or pipeline trends.
Roberge also noted positive developments such as robust bookings and billings, which exceeded consensus estimates, and the successful performance of the Solex partnership. Additionally, the new pricing model has shown promising results, with customer migrations and pricing uplift outperforming expectations. These factors suggest improvements in BlackLine’s market strategy, yet the cautious outlook on macroeconomic conditions justifies the Hold rating.
According to TipRanks, Roberge is an analyst with an average return of -7.4% and a 33.58% success rate. Roberge covers the Technology sector, focusing on stocks such as Workiva, DocuSign, and Adobe.
In another report released on April 23, Piper Sandler also upgraded the stock to a Hold with a $46.00 price target.