Carbonite, Inc. (NASDAQ:CARB) announced its earnings results on Wednesday. The technology company reported $0.25 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.21 by $0.04, Bloomberg Earnings reports. The firm had revenue of $61.60 million for the quarter, compared to the consensus estimate of $61.49 million. Carbonite had a return on equity of 36.43% and a net margin of 0.29%. The business’s quarterly revenue was up 18.7% compared to the same quarter last year. During the same period in the previous year, the business earned $0.14 EPS.

In other news, insider Cassandra Hudson sold 1,563 shares of Carbonite stock in a transaction that occurred on Friday, September 29th. The shares were sold at an average price of $22.05, for a total transaction of $34,464.15. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Anthony Folger sold 7,500 shares of Carbonite stock in a transaction that occurred on Tuesday, September 26th. The shares were sold at an average price of $20.59, for a total transaction of $154,425.00. The disclosure for this sale can be found here. Insiders sold 30,421 shares of company stock valued at $641,877 over the last 90 days. 12.20% of the stock is currently owned by company insiders.

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Several brokerages have commented on CARB. B. Riley reaffirmed a “buy” rating and set a $26.00 target price on shares of Carbonite in a report on Monday, August 7th. BidaskClub downgraded Carbonite from a “buy” rating to a “hold” rating in a report on Thursday, July 6th. Barclays PLC reaffirmed an “equal weight” rating and set a $27.00 target price (up from $26.00) on shares of Carbonite in a report on Friday, August 4th. JMP Securities started coverage on Carbonite in a research note on Tuesday, October 17th. They issued an “outperform” rating and a $30.00 price objective on the stock. Finally, Oppenheimer Holdings, Inc. reissued a “buy” rating and issued a $30.00 price objective on shares of Carbonite in a research note on Thursday, September 21st. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and six have assigned a buy rating to the company’s stock. Carbonite has an average rating of “Buy” and a consensus target price of $27.71.

About Carbonite

Carbonite, Inc provides data protection solutions, including cloud, hybrid and on-premise backup and restore, disaster recovery as a service (DRaaS) and e-mail archiving. The Company’s solutions provide enterprise-grade data protection and recovery capabilities to its customers. The Company’s small and medium-sized businesses (SMBs) plans include Carbonite Computer Backup; Carbonite Server Backup, such as Carbonite Office Power and Carbonite Office Ultimate; EVault Cloud Backup; DRaaS, and e-mail archiving.

Earnings History for Carbonite (NASDAQ:CARB)

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