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BlackLine assumed with a Neutral at DA Davidson

DA Davidson assumed coverage of BlackLine (BL) with a Neutral rating and $56 price target Q2 revenue mildly beat expectations as go-to-market investments are “producing signs of strength in the pipeline,” the analyst tells investors. The firm also notes that it was announced in conjunction with earnings that founder and Co-CEO Therese Tucker will be transitioning away from the Co-CEO role effective October 1.

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