Carbon Black Inc (NASDAQ:CBLK) Receives Average Rating of “Hold” from Analysts

Shares of Carbon Black Inc (NASDAQ:CBLK) have received an average rating of “Hold” from the nine analysts that are covering the firm, Marketbeat.com reports. Six research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating on the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $19.25.

Several equities research analysts have recently issued reports on CBLK shares. ValuEngine downgraded Carbon Black from a “buy” rating to a “hold” rating in a research report on Wednesday, May 1st. Zacks Investment Research downgraded Carbon Black from a “buy” rating to a “hold” rating in a research report on Tuesday, March 12th. Cowen started coverage on Carbon Black in a research report on Thursday, May 23rd. They issued a “market perform” rating and a $18.00 price target on the stock. Finally, Robert W. Baird started coverage on Carbon Black in a research report on Wednesday, April 3rd. They issued an “outperform” rating and a $20.00 price target on the stock.

Carbon Black stock traded down $0.10 during mid-day trading on Wednesday, hitting $17.74. 48,881 shares of the company’s stock were exchanged, compared to its average volume of 1,195,792. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.29 and a current ratio of 1.29. The firm has a market capitalization of $1.25 billion, a PE ratio of -12.85 and a beta of 1.27. Carbon Black has a 1-year low of $11.80 and a 1-year high of $27.27. The business has a 50 day moving average price of $16.19.

Carbon Black (NASDAQ:CBLK) last posted its earnings results on Thursday, May 2nd. The company reported ($0.22) EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.22). The firm had revenue of $58.60 million for the quarter, compared to the consensus estimate of $57.10 million. Carbon Black had a negative net margin of 36.91% and a negative return on equity of 38.71%. The business’s quarterly revenue was up 21.1% on a year-over-year basis. During the same period in the prior year, the business posted ($0.98) earnings per share. Analysts expect that Carbon Black will post -0.89 EPS for the current fiscal year.

In related news, insider Michael Viscuso sold 50,000 shares of the stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $18.47, for a total value of $923,500.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Patrick Morley sold 277,830 shares of the stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $19.00, for a total transaction of $5,278,770.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 439,580 shares of company stock worth $8,241,770.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CBLK. BlackRock Inc. lifted its stake in Carbon Black by 241.9% during the fourth quarter. BlackRock Inc. now owns 2,139,396 shares of the company’s stock worth $28,711,000 after purchasing an additional 1,513,617 shares during the period. Copper Rock Capital Partners LLC bought a new position in Carbon Black during the second quarter worth about $21,634,000. Peregrine Capital Management LLC bought a new position in Carbon Black during the first quarter worth about $14,785,000. First Trust Advisors LP bought a new position in Carbon Black during the first quarter worth about $13,984,000. Finally, ETF Managers Group LLC lifted its stake in Carbon Black by 9.6% during the first quarter. ETF Managers Group LLC now owns 876,528 shares of the company’s stock worth $12,228,000 after purchasing an additional 76,778 shares during the period. Institutional investors and hedge funds own 61.87% of the company’s stock.

Carbon Black Company Profile

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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Analyst Recommendations for Carbon Black (NASDAQ:CBLK)

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