Zacks Investment Research cut shares of Carbon Black (NASDAQ:CBLK) from a buy rating to a hold rating in a research report released on Thursday, Zacks.com reports.

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 research firms have also weighed in on CBLK. William Blair lowered Carbon Black from an outperform rating to a market perform rating in a report on Friday, August 23rd. ValuEngine lowered Carbon Black from a buy rating to a hold rating in a report on Tuesday, September 10th. KeyCorp upped their target price on Carbon Black from $21.00 to $23.00 and gave the company an overweight rating in a report on Friday, August 2nd. Robert W. Baird reissued a buy rating on shares of Carbon Black in a report on Friday, August 23rd. Finally, Raymond James lowered Carbon Black from a strong-buy rating to a market perform rating in a report on Wednesday, August 28th. Seven equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Carbon Black presently has a consensus rating of Hold and an average target price of $20.97.

Shares of CBLK stock opened at $25.94 on Thursday. The business’s fifty day moving average price is $23.80 and its 200 day moving average price is $17.71. Carbon Black has a 1-year low of $11.80 and a 1-year high of $26.36. The firm has a market capitalization of $1.91 billion, a PE ratio of -18.53 and a beta of 0.97. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.28 and a quick ratio of 1.28.

Carbon Black (NASDAQ:CBLK) last posted its earnings results on Thursday, August 1st. The company reported ($0.20) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.24) by $0.04. The company had revenue of $60.86 million for the quarter, compared to analyst estimates of $59.50 million. Carbon Black had a negative return on equity of 37.82% and a negative net margin of 30.69%. Carbon Black’s revenue was up 19.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.35) earnings per share. Equities research analysts expect that Carbon Black will post -0.86 earnings per share for the current fiscal year.

In related news, CEO Patrick Morley sold 79,380 shares of the stock in a transaction 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 document filed with the SEC, which is available at this hyperlink. Also, insider Thomas Neergaard Hansen sold 123,421 shares of the stock in a transaction 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. Insiders sold 297,254 shares of company stock worth $6,161,404 in the last three months. 21.60% of the stock is owned by corporate insiders.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Victory Capital Management Inc. boosted its stake in shares of Carbon Black by 240.9% during the first quarter. Victory Capital Management Inc. now owns 3,941 shares of the company’s stock valued at $55,000 after acquiring an additional 2,785 shares during the last quarter. Strs Ohio lifted its position in Carbon Black by 26.3% during the second quarter. Strs Ohio now owns 4,800 shares of the company’s stock worth $80,000 after buying an additional 1,000 shares during the period. Harel Insurance Investments & Financial Services Ltd. purchased a new position in Carbon Black during the second quarter worth about $84,000. Quantamental Technologies LLC purchased a new position in Carbon Black during the second quarter worth about $111,000. Finally, First Mercantile Trust Co. purchased a new position in Carbon Black during the second quarter worth about $137,000. 73.85% of the stock is currently owned by institutional investors and hedge funds.

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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