Cybersecurity software company Carbon Black (CBLK) delivered a solid initial public offering Friday, with shares soaring 26% on their first day of trading.
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The Carbon Black IPO raised $152 million, pricing 9 million shares at 19, the high end of its range. Shares then opened at 24.70 for a 30% gain. They ended regular trading at 23.94 on the stock market today.
Based in Waltham, Mass., the company has more than 3,700 customers and sees a market opportunity of $19 billion. Carbon Black provides a cybersecurity cloud solution that "continuously captures, records and analyzes rich, unfiltered endpoint data." Endpoint data includes mobile devices, laptops, PCs, servers and other cloud-connected devices on the network's perimeter.
Endpoint Protection
"Our solutions enable customers to predict, prevent, detect, respond to and remediate cyberattacks before they cause a damaging incident or data breach," the company says in its IPO prospectus. Endpoints are the primary focus of cyber attacks because they store valuable data that attackers seek to steal.
For 2017, Carbon Black reported revenue of $162 million, up 40% from the prior year, and a net loss of $55.8 million, vs. $44.5 million.
The biggest stock market winners typically make their major price moves within a few months or years of their initial public offering. So it pays to identify and track companies that are getting ready to go — or have recently gone — public.
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