BlackLine initiated with a Buy at DA Davidson

DA Davidson initiated coverage of BlackLine (BL) with a Buy rating and $58 price target The company’s recent product, pricing, and partner initiatives “all align in support of greater value-capture where Blackline has the strongest competitive edge,” namely in complex accounting processes at the world’s largest organizations, the analyst tells investors. The firm believes expectations for improvement are low as consensus appears to be straight-lining recent underperformance, so the firm views the risk-reward as “attractive,” the analyst added.