Carbon Black stock price target raised to $30 from $27 at Raymond James
Carbon Black stock price target raised to $30 from $27 at Raymond James
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Carbon Black stock price target raised to $30 from $27 at Raymond James
Carbon Black Inc. shares ticked higher in the extended session Thursday after the endpoint cybersecurity company posted better-than-expected results. Carbon Black shares rose 1.7% after hours, following a 2.6% decline to close at $26.31 in the regular session. The earnings report is the company's first since going public in early May. The company reported a fiscal first-quarter loss of $60.6 million, or $5.38 a share, compared with a loss of $24.1 million, or $2.40 a share, in the year-ago period. The adjusted loss was 98 cents a share. Revenue rose to $48.4 million from $35.9 million in the year-ago period. Analysts surveyed by FactSet had estimated a loss of $1.27 a share on revenue of $48 million. For the second quarter, Carbon Black estimates an adjusted loss of 42 cents to 41 cents a share on revenue of $48.5 million to $49 million. Analysts expect a loss of 43 cents a share on revenue of $48.2 million.
Carbon Black started at outperform with $27 stock price target at Raymond James
Carbon Black started at overweight with $39 stock price target at J.P. Morgan
Carbon Black started at overweight with $29 stock price target at KeyBanc Capital
Shares of Carbon Black Inc. shot higher Friday, on the cloud-based cybersecurity company public debut. The first trade was at $24.70 at 11:23 a.m. ET for 1.3 million shares, or 30% above the initial public offering price. It was recently up 33.4%. The IPO priced late Thursday at $19 a share, at the top of the expected range of $17 to $19, to value the company at about $1.3 billion. The company raised $152 million with the IPO, and could raise as much as $174.8 million if all the options to buy additional shares that were granted to underwriters are exercised. Carbon Black has gone public at a time that the Renaissance IPO ETF has edged up 0.3% in the past three months and the S&P 500 has lost 4.0%.
Cybersecurity company Carbon Black Inc. hiked its initial public offering pricing range on Wednesday, right before the stock is expected to start trading on Friday. In a filing with the Securities and Exchange Commission, the company said it expects to price shares between $17 and $19, up from its previous range of $15 to $17 a share in late April. Carbon Black still expects to offer 8 million shares with an added 1.2 million to underwriters to cover overallotments, which at the high end would value the company at $1.27 billion. Carbon Black first filed for its IPO less than a month ago.
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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. The company was founded by Michael Viscuso on December 19, 2002 and is headquartered in Waltham, MA. (See Full Profile)