BlackLine price target lowered to $80 from $86 at JMP Securities

JMP Securities lowered the firm’s price target on BlackLine (BL) to $80 from $86 and keeps an Outperform rating on the shares. The company reported mixed Q4 results and guidance was “disappointing,” partly due to negative impacts of foreign exchange and deferred customer starting dates, the analyst tells investors in a research note. Though Q4 was mixed, FX is dragging results down further, and there is a CFO transition, JMP continues to view BlackLine as an attractive opportunity for long-term capital appreciation.