Carbon Black (NASDAQ:CBLK) Upgraded by Zacks Investment Research to Buy

Carbon Black (NASDAQ:CBLK) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Wednesday, Zacks.com reports. The brokerage currently has a $20.00 price target on the stock. Zacks Investment Research‘s target price indicates a potential upside of 10.56% from the stock’s previous close.

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 issued reports on CBLK. KeyCorp boosted their target price on shares of Carbon Black from $21.00 to $23.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. Cowen started coverage on shares of Carbon Black in a research note on Thursday, May 23rd. They set a “market perform” rating and a $18.00 target price on the stock. Finally, ValuEngine raised shares of Carbon Black from a “hold” rating to a “buy” rating in a research note on Thursday, August 1st. Three analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $18.54.

Shares of NASDAQ CBLK traded down $0.08 during trading on Wednesday, hitting $18.09. The company had a trading volume of 437,842 shares, compared to its average volume of 1,140,570. The company has a market cap of $1.38 billion, a P/E ratio of -12.92 and a beta of 1.28. Carbon Black has a 52 week low of $11.80 and a 52 week high of $27.27. The firm has a 50-day moving average of $17.84. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.28 and a current ratio of 1.28.

Carbon Black (NASDAQ:CBLK) last announced its earnings results on Thursday, August 1st. The company reported ($0.20) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.24) by $0.04. Carbon Black had a negative net margin of 30.69% and a negative return on equity of 37.82%. The company had revenue of $60.86 million for the quarter, compared to the consensus estimate of $59.50 million. During the same period in the previous year, the business earned ($0.35) EPS. The company’s revenue was up 19.4% on a year-over-year basis. As a group, equities research analysts expect that Carbon Black will post -0.89 earnings per share for the current fiscal year.

In other news, CEO Patrick Morley sold 277,830 shares of the business’s stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $19.00, for a total transaction of $5,278,770.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Michael Viscuso sold 50,000 shares of the business’s stock in a transaction on Monday, May 13th. The shares were sold at an average price of $18.47, for a total transaction of $923,500.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 552,960 shares of company stock worth $10,378,490. Company insiders own 21.60% of the company’s stock.

Several institutional investors have recently bought and sold shares of CBLK. Pendal Group Ltd boosted its holdings in Carbon Black by 4,720.7% during the second quarter. Pendal Group Ltd now owns 4,838,310 shares of the company’s stock valued at $71,358,000 after acquiring an additional 4,737,944 shares during the period. Artemis Investment Management LLP raised its position in shares of Carbon Black by 17.7% during the second quarter. Artemis Investment Management LLP now owns 2,273,665 shares of the company’s stock valued at $37,550,000 after buying an additional 342,365 shares during the last quarter. BlackRock Inc. raised its position in shares of Carbon Black by 241.9% during the fourth quarter. BlackRock Inc. now owns 2,139,396 shares of the company’s stock valued at $28,711,000 after buying an additional 1,513,617 shares during the last quarter. First Trust Advisors LP raised its position in shares of Carbon Black by 96.1% during the second quarter. First Trust Advisors LP now owns 1,965,871 shares of the company’s stock valued at $32,869,000 after buying an additional 963,442 shares during the last quarter. Finally, Copper Rock Capital Partners LLC acquired a new position in shares of Carbon Black during the second quarter valued at about $21,634,000. Institutional investors and hedge funds own 64.47% of the company’s stock.

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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