Carbon Black Inc (NASDAQ:CBLK) Expected to Post Quarterly Sales of $61.94 Million

Wall Street analysts expect Carbon Black Inc (NASDAQ:CBLK) to report $61.94 million in sales for the current quarter, Zacks reports. Six analysts have provided estimates for Carbon Black’s earnings. The lowest sales estimate is $61.55 million and the highest is $62.30 million. Carbon Black reported sales of $53.42 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 15.9%. The firm is scheduled to issue its next quarterly earnings results on Thursday, October 24th.

According to Zacks, analysts expect that Carbon Black will report full year sales of $244.34 million for the current financial year, with estimates ranging from $244.00 million to $245.00 million. For the next year, analysts anticipate that the business will post sales of $286.92 million, with estimates ranging from $282.26 million to $295.00 million. Zacks’ sales calculations are an average based on a survey of analysts that follow Carbon Black.

Carbon Black (NASDAQ:CBLK) last issued its quarterly earnings results on Thursday, August 1st. The company reported ($0.20) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ 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 analyst estimates of $59.50 million. During the same quarter in the previous year, the company posted ($0.35) earnings per share. The company’s revenue was up 19.4% compared to the same quarter last year.



Several brokerages have issued reports on CBLK. Zacks Investment Research raised Carbon Black from a “hold” rating to a “buy” rating and set a $20.00 price target for the company in a research note on Wednesday, August 7th. KeyCorp boosted their target price on Carbon Black from $21.00 to $23.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. ValuEngine raised Carbon Black from a “hold” rating to a “buy” rating in a research note on Thursday, August 1st. Finally, Cowen initiated coverage on Carbon Black in a research note on Thursday, May 23rd. They issued a “market perform” rating and a $18.00 target price for the company. Three analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. Carbon Black has an average rating of “Buy” and an average price target of $18.54.

In other Carbon Black news, CEO Patrick Morley sold 79,380 shares of the company’s stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $19.00, for a total transaction of $1,508,220.00. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Michael Viscuso sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $21.38, for a total value of $213,800.00. The disclosure for this sale can be found here. Insiders have sold a total of 198,833 shares of company stock worth $3,711,503 in the last quarter. Company insiders own 21.60% of the company’s stock.

Hedge funds have recently bought and sold shares of the business. Victory Capital Management Inc. grew its holdings 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 worth $55,000 after acquiring an additional 2,785 shares during the period. Strs Ohio grew its holdings in shares of Carbon Black by 26.3% during the 2nd quarter. Strs Ohio now owns 4,800 shares of the company’s stock worth $80,000 after acquiring an additional 1,000 shares during the period. Harel Insurance Investments & Financial Services Ltd. purchased a new position in shares of Carbon Black during the 2nd quarter worth approximately $84,000. Quantamental Technologies LLC purchased a new position in shares of Carbon Black during the 2nd quarter worth approximately $111,000. Finally, BNP Paribas Arbitrage SA grew its holdings 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 worth $119,000 after acquiring an additional 8,079 shares during the period. Hedge funds and other institutional investors own 67.95% of the company’s stock.

CBLK stock traded down $0.13 during mid-day trading on Monday, hitting $22.23. 3,906 shares of the stock were exchanged, compared to its average volume of 902,917. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.28 and a quick ratio of 1.28. The firm’s fifty day simple moving average is $18.50. Carbon Black has a 12 month low of $11.80 and a 12 month high of $26.11. The company has a market cap of $1.64 billion, a PE ratio of -15.91 and a beta of 1.28.

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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Earnings History and Estimates for Carbon Black (NASDAQ:CBLK)

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