12 Must-See AI News and Ratings You Might Have Missed

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9. BlackLine Inc. (NASDAQ:BL)

Number of Hedge Fund Holders: 23

BlackLine Inc. (NASDAQ:BL) is a leading cloud software provider that helps clients automate financial accounting processes. On January 30, BofA analyst Koji Ikeda upgraded the stock to “Buy” from Underperform with a price target of $75, up from $50. The accounting automation software provider introduced a new pricing and packaging strategy alongside its next-generation platform, Studio360, back in October. Blackline Studio 360 is a comprehensive platform for finance and accounting teams that leverages AI technology. According to the firm, these initiatives have the potential to drive platform usage and monetization.

“We are upgrading accounting automation software vendor BlackLine (BL) to Buy (from Underperform) and raising our PO to $75 (from $50). Three months after announcing a new business strategy (more below), we deduce that BlackLine finally has the right technology and pricing/packaging in place to drive accelerating revenue growth which should be a catalyst.”

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