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Carbonite (NASDAQ:CARB) was upgraded by Zacks from a “neutral” rating to an “outperform” rating in a report released on Friday. The firm currently has a $12.70 target price on the stock. Zacks‘s target price suggests a potential upside of 18.14% from the company’s current price.

In other Carbonite news, CEO David Friend acquired 5,000 shares of the company’s stock on the open market in a transaction that occurred on Friday, August 1st. The shares were purchased at an average cost of $9.83 per share, for a total transaction of $49,150.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Shares of Carbonite (NASDAQ:CARB) traded up 4.07% on Friday, hitting $10.75. 185,360 shares of the company’s stock traded hands. Carbonite has a 52 week low of $8.26 and a 52 week high of $16.50. The stock’s 50-day moving average is $11.08 and its 200-day moving average is $10.58. The company’s market cap is $289.0 million.

Carbonite (NASDAQ:CARB) last announced its earnings results on Tuesday, July 29th. The company reported ($0.03) EPS for the quarter, beating the Thomson Reuters consensus estimate of ($0.04) by $0.01. The company had revenue of $30.30 million for the quarter, compared to the consensus estimate of $30.10 million. During the same quarter in the prior year, the company posted ($0.02) earnings per share. The company’s quarterly revenue was up 15.6% on a year-over-year basis. Analysts expect that Carbonite will post $-0.04 EPS for the current fiscal year.

Separately, analysts at Bank of America downgraded shares of Carbonite from a “neutral” rating to an “underperform” rating in a research note on Wednesday, July 30th. They now have a $9.00 price target on the stock, down previously from $12.00. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $11.30.

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 Zacks’ official website.

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