Share on StockTwits

Carbonite (NASDAQ:CARB) was downgraded by equities researchers at Oppenheimer from an “outperform” rating to a “market perform” rating in a research report issued on Tuesday, reports.

Shares of Carbonite (NASDAQ:CARB) traded down 0.77% during mid-day trading on Tuesday, hitting $10.34. The stock had a trading volume of 434,243 shares. Carbonite has a 52-week low of $9.07 and a 52-week high of $16.50. The stock has a 50-day moving average of $11.64 and a 200-day moving average of $13.13. The company’s market cap is $273.9 million.

Carbonite (NASDAQ:CARB) last announced its earnings results on Thursday, January 30th. The company reported $0.06 earnings per share for the quarter, beating the analysts’ 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. On average, analysts predict that Carbonite will post $-0.13 earnings per share for the current fiscal year.

Several other analysts have also recently commented on the stock. Analysts at Zacks upgraded shares of Carbonite from a “neutral” rating to an “outperform” rating in a research note on Wednesday, February 5th. They now have a $10.50 price target on the stock. Separately, analysts at Northland Capital Partners cut their price target on shares of Carbonite from $17.00 to $13.00 in a research note on Friday, January 31st. They now have an “outperform” rating on the stock. Finally, analysts at Canaccord Genuity downgraded shares of Carbonite from a “buy” rating to a “hold” rating in a research note on Thursday, January 30th. They now have a $10.50 price target on the stock, down previously from $17.00. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $13.67.

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.

The Fly On The Wall

Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.