ValuEngine Lowers Carbon Black (NASDAQ:CBLK) to Sell

ValuEngine downgraded shares of Carbon Black (NASDAQ:CBLK) from a hold rating to a sell rating in a report published on Wednesday morning, ValuEngine reports.

A number of other equities research analysts have also recently weighed in on the company. Cowen set a $26.00 price target on Carbon Black and gave the stock a hold rating in a report on Friday, August 23rd. Raymond James cut Carbon Black from a strong-buy rating to a market perform rating in a report on Wednesday, August 28th. KeyCorp upped 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. Zacks Investment Research cut Carbon Black from a buy rating to a hold rating in a report on Wednesday. Finally, Robert W. Baird restated a buy rating on shares of Carbon Black in a report on Friday, August 23rd. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and a consensus target price of $20.97.

Shares of CBLK traded up $0.01 on Wednesday, reaching $25.99. The stock had a trading volume of 1,326,393 shares, compared to its average volume of 1,381,321. The firm has a market capitalization of $1.91 billion, a PE ratio of -18.56 and a beta of 0.96. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 0.07. The firm has a 50-day moving average of $25.50 and a 200 day moving average of $18.55. Carbon Black has a twelve month low of $11.80 and a twelve month high of $26.36.

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 for 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 quarter in the prior year, the firm posted ($0.35) EPS. On average, sell-side analysts anticipate that Carbon Black will post -0.86 earnings per share for the current fiscal year.

In related news, 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 transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Thomas Neergaard Hansen sold 123,421 shares of the company’s stock in a transaction that occurred on 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. In the last ninety days, insiders sold 297,254 shares of company stock worth $6,161,404. 21.60% of the stock is owned by corporate insiders.

A number of hedge funds have recently bought and sold shares of CBLK. Victory Capital Management Inc. lifted its stake in Carbon Black by 240.9% in 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 stake in Carbon Black by 26.3% in 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 stake in Carbon Black in the 2nd quarter valued at approximately $84,000. Quantamental Technologies LLC purchased a new stake in Carbon Black in the 2nd quarter valued at approximately $111,000. Finally, First Mercantile Trust Co. purchased a new stake in Carbon Black in the 2nd quarter valued at approximately $137,000. 73.85% of the stock is currently owned by hedge funds and other institutional investors.

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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