Zacks Investment Research upgraded shares of Carbon Black (NASDAQ:CBLK) from a hold rating to a buy rating in a report published on Tuesday morning, Zacks.com reports. Zacks Investment Research currently has $29.00 target price on the stock.
According to Zacks, “Carbon Black Inc. provides endpoint security solutions. Its cloud-based security platform captures, records and analyzes endpoint data and combines with its analytics platform. The company provides technology solutions in endpoint security categories application control, endpoint detection and response and next generation antivirus. Carbon Black Inc. is based in Massachusetts, United States. “
Several other brokerages also recently weighed in on CBLK. KeyCorp raised their price target on Carbon Black from $21.00 to $23.00 and gave the company an overweight rating in a report on Friday, August 2nd. Cowen set a $26.00 price target on Carbon Black and gave the company a hold rating in a report on Friday, August 23rd. ValuEngine downgraded Carbon Black from a buy rating to a hold rating in a report on Tuesday, September 10th. William Blair downgraded Carbon Black from an outperform rating to a market perform rating in a report on Friday, August 23rd. Finally, Robert W. Baird restated a buy rating on shares of Carbon Black in a report on Friday, August 23rd. Six investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. The company has an average rating of Hold and a consensus target price of $20.97.
Carbon Black (NASDAQ:CBLK) last issued its quarterly earnings results on Thursday, August 1st. The company reported ($0.20) earnings per share for the quarter, beating the consensus estimate of ($0.24) by $0.04. Carbon Black had a negative return on equity of 37.82% and a negative net margin of 30.69%. The firm had revenue of $60.86 million during the quarter, compared to the consensus estimate of $59.50 million. During the same period last year, the company earned ($0.35) earnings per share. The company’s revenue was up 19.4% on a year-over-year basis. On average, sell-side analysts anticipate that Carbon Black will post -0.86 earnings per share for the current fiscal year.
In other news, insider Thomas Neergaard Hansen sold 123,421 shares of Carbon Black stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $23.02, for a total transaction of $2,841,151.42. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Michael Viscuso sold 10,000 shares of Carbon Black stock in a transaction dated Monday, July 8th. The shares were sold at an average price of $17.25, for a total value of $172,500.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 297,254 shares of company stock worth $6,161,404. Insiders own 21.60% of the company’s stock.
Hedge funds have recently bought and sold shares of the company. Victory Capital Management Inc. lifted its position in shares of Carbon Black by 240.9% during the 1st quarter. Victory Capital Management Inc. now owns 3,941 shares of the company’s stock valued at $55,000 after buying an additional 2,785 shares in the last quarter. Strs Ohio lifted its position in shares of Carbon Black by 26.3% during the 2nd quarter. Strs Ohio now owns 4,800 shares of the company’s stock valued at $80,000 after buying an additional 1,000 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. purchased a new position in shares of Carbon Black during the 2nd quarter valued at about $84,000. Quantamental Technologies LLC purchased a new position in shares of Carbon Black during the 2nd quarter valued at about $111,000. Finally, BNP Paribas Arbitrage SA lifted its position in shares of Carbon Black by 1,748.7% during the 1st quarter. BNP Paribas Arbitrage SA now owns 8,541 shares of the company’s stock valued at $119,000 after buying an additional 8,079 shares in the last quarter. 73.85% of the stock is currently owned by hedge funds and other institutional investors.
About Carbon Black
Carbon Black, Inc provides security solutions in the United States and internationally. Its solutions enable customers to predict, prevent, detect, respond to, and remediate cyber-attacks before they cause a damaging incident or data breach. The company offers CB Predictive Security Cloud, a big data and analytics platform, which provides endpoint data collection, streaming analytics, collective intelligence, and open application program interfaces, as well as a set of security services.
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