Robert W. Baird analyst Jonathan Ruykhaver maintained a Buy rating on Carbon Black Inc (CBLK) today and set a price target of $20. The company’s shares closed yesterday at $13.66, close to its 52-week low of $11.80.
Ruykhaver wrote:
“We maintain our Outperform rating and $20 price target. 1Q19 was a solid quarter and especially Cloud Subscription, which grew ARR 71% with essentially one offering. We believe Carbon Black remains under the radar of most investors and expect the company to be a long term leader in endpoint security based. While 1H19 is a transition period, we believe CBLK can achieve accelerating cloud growth via ThreatHunter (EDR) and LiveOps (real-time inquiry), which would validate the bull thesis and drive a meaningful re-rating of shares.”
According to TipRanks.com, Ruykhaver is a top 100 analyst with an average return of 25.8% and a 79.0% success rate. Ruykhaver covers the Technology sector, focusing on stocks such as Forescout Technologies Inc, Varonis Systems, and Proofpoint Inc.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Carbon Black Inc with a $17.75 average price target.
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The company has a one-year high of $35 and a one-year low of $11.80. Currently, Carbon Black Inc has an average volume of 1.17M.
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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.
