In a report released today, Jonathan Ruykhaver from Robert W. Baird initiated coverage with a Buy rating on Carbon Black Inc (CBLK) and a price target of $20. The company’s shares opened today at $14.11, close to its 52-week low of $11.80.
Ruykhaver noted:
“We initiate CBLK with an Outperform rating and $20 price target. The most influential factor in our positive rating is the fact Cloud Subscription ARR grew to $81 million with essentially one product (CB Defense) and the company now has it’s enterprise grade EDR on the cloud platform along with a managed services wrap around, which has proven to be a successful equation in endpoint security. In addition, FY19 guidance appears conservative and the EV/Sales multiple is at the bottom end of the comp group.”
According to TipRanks.com, Ruykhaver is a top 100 analyst with an average return of 27.2% and a 81.9% success rate. Ruykhaver covers the Technology sector, focusing on stocks such as Forescout Technologies Inc, Varonis Systems, and Proofpoint Inc.
Currently, the analyst consensus on Carbon Black Inc is a Moderate Buy with an average price target of $19.
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Based on Carbon Black Inc’s latest earnings release for the quarter ending December 31, the company reported a quarterly GAAP net loss of $18.55 million. In comparison, last year the company had a GAAP net loss of $20.59 million.
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Carbon Black, Inc. engages in the provision of endpoint security services. Its software solutions include Cb defense, Cb responcs, Cb protection, Cb defense for vmware, and Cb Threatsight. It focuses on delivering endpoint protection for desktops and servers through application control.
