Carbon Black (NASDAQ:CBLK) Downgraded by ValuEngine

ValuEngine downgraded shares of Carbon Black (NASDAQ:CBLK) from a buy rating to a hold rating in a research note released on Tuesday morning, ValuEngine reports.

A number of other equities analysts have also recently weighed in on CBLK. Robert W. Baird reiterated a buy rating on shares of Carbon Black in a report on Friday, August 23rd. Cowen set a $26.00 price target on Carbon Black and gave the stock a hold rating in a report on Friday, August 23rd. Zacks Investment Research upgraded Carbon Black from a hold rating to a buy rating and set a $29.00 price target for the company in a report on Monday. KeyCorp increased their price target on Carbon Black from $21.00 to $23.00 and gave the stock an overweight rating in a report on Friday, August 2nd. Finally, Raymond James cut Carbon Black from a strong-buy rating to a market perform rating in a report on Wednesday, August 28th. Seven analysts have rated the stock with a hold rating and two have given a buy rating to the company. Carbon Black presently has an average rating of Hold and an average target price of $20.97.

NASDAQ CBLK opened at $26.01 on Tuesday. The company has a current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 0.07. Carbon Black has a twelve month low of $11.80 and a twelve month high of $26.36. The stock has a fifty day simple moving average of $22.65 and a 200-day simple moving average of $17.19.



Carbon Black (NASDAQ:CBLK) last released its quarterly earnings results on Thursday, August 1st. The company reported ($0.20) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.24) by $0.04. The business had revenue of $60.86 million during the quarter, compared to analysts’ expectations of $59.50 million. Carbon Black had a negative return on equity of 37.82% and a negative net margin of 30.69%. The company’s revenue was up 19.4% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.35) EPS. As a group, equities research analysts expect that Carbon Black will post -0.86 earnings per share for the current year.

In related news, insider Michael Viscuso sold 10,000 shares of the firm’s stock in a transaction dated Monday, July 8th. The stock was sold at an average price of $17.25, for a total transaction of $172,500.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Thomas Neergaard Hansen sold 123,421 shares of the firm’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $23.02, for a total value of $2,841,151.42. The disclosure for this sale can be found here. Insiders have sold a total of 297,254 shares of company stock valued at $6,161,404 over the last 90 days. 21.60% of the stock is currently owned by company insiders.

A number of institutional investors have recently made changes to their positions in the stock. Pendal Group Ltd boosted its holdings in Carbon Black by 4,720.7% during the 2nd 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. Vanguard Group Inc. raised its position in Carbon Black by 35.8% in the 2nd quarter. Vanguard Group Inc. now owns 3,917,825 shares of the company’s stock valued at $65,506,000 after purchasing an additional 1,033,590 shares in the last quarter. BlackRock Inc. raised its position in Carbon Black by 85.8% in the 2nd quarter. BlackRock Inc. now owns 3,708,216 shares of the company’s stock valued at $62,001,000 after purchasing an additional 1,712,210 shares in the last quarter. Artemis Investment Management LLP raised its position in Carbon Black by 17.7% in the 2nd quarter. Artemis Investment Management LLP now owns 2,273,665 shares of the company’s stock valued at $37,550,000 after purchasing an additional 342,365 shares in the last quarter. Finally, First Trust Advisors LP raised its position in Carbon Black by 96.1% in the 2nd quarter. First Trust Advisors LP now owns 1,965,871 shares of the company’s stock valued at $32,869,000 after purchasing an additional 963,442 shares in the last quarter. Institutional investors own 76.06% 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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