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Carbonite (NASDAQ:CARB) was upgraded by Zacks from a “neutral” rating to an “outperform” rating in a note issued to investors on Wednesday, Stock Ratings News reports. The firm currently has a $10.50 price objective on the stock. Zacks‘ price target suggests a potential upside of 10.41% from the company’s current price.

Shares of Carbonite (NASDAQ:CARB) traded down 2.73% on Wednesday, hitting $9.25. 163,655 shares of the company’s stock traded hands. Carbonite has a 52 week low of $9.50 and a 52 week high of $16.50. The stock’s 50-day moving average is $11.83 and its 200-day moving average is $13.23. The company’s market cap is $245.1 million.

Carbonite (NASDAQ:CARB) last announced its earnings results on Thursday, January 30th. The company reported $0.06 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.03) by $0.09. The company had revenue of $28.80 million for the quarter, compared to the consensus estimate of $28.40 million. Analysts expect that Carbonite will post $-0.13 EPS for the current fiscal year.

A number of other firms have also recently commented on CARB. Analysts at Northland Capital Partners cut their price target on shares of Carbonite from $17.00 to $13.00 in a research note to investors on Friday, January 31st. They now have an “outperform” rating on the stock. Analysts at Canaccord Genuity downgraded shares of Carbonite from a “buy” rating to a “hold” rating in a research note to investors on Thursday, January 30th. They now have a $10.50 price target on the stock, down previously from $17.00. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Carbonite presently has a consensus rating of “Buy” and a consensus price target of $14.00.

Carbonite, Inc (NASDAQ:CARB) focuses on the development and marketing of personal computer backup software that enables users to backup, access, and restore data files online.

To view Zacks’ full report, visit www.zacks.com

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