Carbon Black (NASDAQ:CBLK) Issues Quarterly Earnings Results, Beats Estimates By $0.04 EPS

Carbon Black (NASDAQ:CBLK) issued its quarterly earnings results on Thursday. The company reported ($0.20) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.24) by $0.04, Morningstar.com reports. Carbon Black had a negative net margin of 36.91% and a negative return on equity of 38.71%. The business had revenue of $60.86 million for the quarter, compared to the consensus estimate of $59.50 million. During the same quarter in the prior year, the company earned ($0.35) EPS. The firm’s quarterly revenue was up 19.4% on a year-over-year basis.

Carbon Black stock traded up $1.06 during trading hours on Friday, reaching $19.31. 1,739,761 shares of the company’s stock traded hands, compared to its average volume of 677,715. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.29 and a quick ratio of 1.29. Carbon Black has a fifty-two week low of $11.80 and a fifty-two week high of $27.27. The company has a market cap of $1.33 billion, a price-to-earnings ratio of -13.79 and a beta of 1.28. The business’s 50 day moving average price is $17.62.

In other news, Director Ronald H. Nordin sold 86,750 shares of the company’s stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $19.00, for a total value of $1,648,250.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Patrick Morley sold 79,380 shares of the company’s stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $19.00, for a total value of $1,508,220.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 552,960 shares of company stock worth $10,378,490. Corporate insiders own 21.60% of the company’s stock.

Hedge funds have recently made changes to their positions in the company. Victory Capital Management Inc. increased its stake in shares of 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 acquiring an additional 2,785 shares during the last quarter. Strs Ohio increased its stake in shares of 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 acquiring an additional 1,000 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. bought a new stake in shares of Carbon Black in the 2nd quarter valued at about $84,000. BNP Paribas Arbitrage SA increased its stake in shares of Carbon Black by 1,748.7% in the 1st quarter. BNP Paribas Arbitrage SA now owns 8,541 shares of the company’s stock valued at $119,000 after acquiring an additional 8,079 shares during the last quarter. Finally, Citigroup Inc. increased its stake in shares of Carbon Black by 341.9% in the 4th quarter. Citigroup Inc. now owns 10,092 shares of the company’s stock valued at $135,000 after acquiring an additional 7,808 shares during the last quarter. 64.46% of the stock is owned by institutional investors.

A number of research firms have issued reports on CBLK. Cowen began coverage on shares of Carbon Black in a research report on Thursday, May 23rd. They set a “market perform” rating and a $18.00 target price on the stock. ValuEngine upgraded shares of Carbon Black from a “hold” rating to a “buy” rating in a research report on Thursday. Zacks Investment Research downgraded shares of Carbon Black from a “buy” rating to a “hold” rating in a research report on Tuesday, June 4th. Finally, KeyCorp upped their target price on shares of Carbon Black from $21.00 to $23.00 and gave the company an “overweight” rating in a research report on Friday. Four research analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of “Buy” and an average target price of $18.54.

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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Earnings History for Carbon Black (NASDAQ:CBLK)

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