Brokerages expect Carbonite, Inc. (NASDAQ:CARB) to post sales of $63.72 million for the current quarter, according to Zacks. Five analysts have issued estimates for Carbonite’s earnings. The lowest sales estimate is $63.00 million and the highest is $64.15 million. Carbonite posted sales of $53.49 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 19.1%. The company is scheduled to issue its next earnings report on Thursday, February 8th.

According to Zacks, analysts expect that Carbonite will report full-year sales of $63.72 million for the current financial year, with estimates ranging from $241.01 million to $247.41 million. For the next fiscal year, analysts expect that the firm will post sales of $267.77 million per share, with estimates ranging from $264.58 million to $272.07 million. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that cover Carbonite.

Carbonite (NASDAQ:CARB) last issued its quarterly earnings data on Thursday, November 2nd. The technology company reported $0.25 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.21 by $0.04. The business had revenue of $61.60 million for the quarter, compared to analysts’ expectations of $61.49 million. Carbonite had a positive return on equity of 32.85% and a negative net margin of 1.32%. The company’s revenue for the quarter was up 18.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.14 EPS.

Several analysts have recently issued reports on CARB shares. Oppenheimer reaffirmed a “buy” rating and set a $30.00 price objective on shares of Carbonite in a report on Thursday, September 21st. BidaskClub lowered Carbonite from a “buy” rating to a “hold” rating in a report on Thursday. Finally, JMP Securities began coverage on Carbonite in a report on Tuesday, October 17th. They set an “outperform” rating and a $30.00 price target on the stock. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $27.71.

In other Carbonite news, Director Todd Krasnow sold 10,000 shares of the company’s stock in a transaction on Monday, December 11th. The stock was sold at an average price of $23.16, for a total value of $231,600.00. Following the transaction, the director now owns 227,230 shares of the company’s stock, valued at approximately $5,262,646.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Anthony Folger sold 6,008 shares of the company’s stock in a transaction on Wednesday, November 8th. The shares were sold at an average price of $22.31, for a total value of $134,038.48. The disclosure for this sale can be found here. Insiders have sold a total of 41,716 shares of company stock worth $961,860 in the last 90 days. 12.20% of the stock is currently owned by insiders.

Institutional investors have recently made changes to their positions in the business. Quantbot Technologies LP grew its position in shares of Carbonite by 17.2% during the 2nd quarter. Quantbot Technologies LP now owns 5,449 shares of the technology company’s stock worth $118,000 after buying an additional 800 shares in the last quarter. Legal & General Group Plc grew its position in shares of Carbonite by 19.5% during the 2nd quarter. Legal & General Group Plc now owns 6,035 shares of the technology company’s stock worth $132,000 after buying an additional 985 shares in the last quarter. Oppenheimer Asset Management Inc. grew its position in shares of Carbonite by 167.2% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 7,370 shares of the technology company’s stock worth $162,000 after buying an additional 4,612 shares in the last quarter. Cubist Systematic Strategies LLC bought a new position in shares of Carbonite during the 2nd quarter worth $231,000. Finally, Voya Investment Management LLC bought a new position in shares of Carbonite during the 2nd quarter worth $236,000. 94.21% of the stock is currently owned by institutional investors.

Shares of Carbonite (NASDAQ CARB) opened at $26.00 on Thursday. The stock has a market capitalization of $718.24, a P/E ratio of -236.36, a PEG ratio of 2.06 and a beta of 0.37. Carbonite has a twelve month low of $15.90 and a twelve month high of $27.00. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 3.12.

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Carbonite Company Profile

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.

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