Carbonite Inc. (CARB) Upgraded by Oppenheimer Holdings Inc. to “Outperform”
Carbonite Inc. (NASDAQ:CARB) was upgraded by investment analysts at Oppenheimer Holdings Inc. from a “market perform” rating to an “outperform” rating in a research note issued on Tuesday.
Several other equities research analysts also recently weighed in on the stock. Zacks Investment Research downgraded shares of Carbonite from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 4th. B. Riley restated a “buy” rating and issued a $17.00 target price on shares of Carbonite in a research note on Wednesday, September 28th.
Carbonite (NASDAQ:CARB) last announced its earnings results on Tuesday, August 2nd. The company reported $0.19 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.03 by $0.16. The company earned $53.40 million during the quarter, compared to the consensus estimate of $44.19 million. Carbonite had a negative net margin of 7.36% and a negative return on equity of 453.55%. Carbonite’s revenue was up 57.2% compared to the same quarter last year. During the same period last year, the firm earned ($0.01) earnings per share.
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In other Carbonite news, Director Jeffry Flowers sold 51,020 shares of the firm’s stock in a transaction on Thursday, August 4th. The shares were sold at an average price of $13.03, for a total value of $664,790.60. Following the completion of the transaction, the director now owns 255,756 shares of the company’s stock, valued at $3,332,500.68. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Cassandra Hudson sold 19,062 shares of the firm’s stock in a transaction on Friday, September 23rd. The stock was sold at an average price of $15.02, for a total transaction of $286,311.24. Following the completion of the transaction, the insider now directly owns 46,157 shares of the company’s stock, valued at approximately $693,278.14. The disclosure for this sale can be found here. 15.80% of the stock is currently owned by company insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of CARB. Blair William & Co. IL boosted its position in Carbonite by 5.0% in the second quarter. Blair William & Co. IL now owns 10,500 shares of the company’s stock worth $102,000 after buying an additional 500 shares in the last quarter. Royal Bank of Canada bought a new position in Carbonite during the second quarter worth about $102,000. Citadel Advisors LLC bought a new position in Carbonite during the second quarter worth about $103,000. Glenmede Trust Co. NA bought a new position in Carbonite during the second quarter worth about $109,000. Finally, Aberdeen Asset Management PLC UK bought a new position in Carbonite during the second quarter worth about $117,000. 64.51% of the stock is owned by institutional investors and hedge funds.
Carbonite Company Profile
Carbonite, Inc (Carbonite) is a provider of cloud and business continuity solutions. The Company’s solutions are designed to address the specific needs of small and medium sized businesses and individuals. It offers various solutions, such as Carbonite Personal, Carbonite Pro, Carbonite Server Backup and MailStore.
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