Carbonite (CARB) Issues FY18 Earnings Guidance

Carbonite (NASDAQ:CARB) updated its FY18 earnings guidance on Tuesday. The company provided EPS guidance of $1.45-1.55 for the period, compared to the Thomson Reuters consensus EPS estimate of $1.01. The company issued revenue guidance of $294.0-304.0 million, compared to the consensus revenue estimate of $267.76 million.Carbonite also updated its Q1 guidance to $0.20-0.24 EPS.

Several equities analysts have weighed in on CARB shares. BidaskClub cut Carbonite from a hold rating to a sell rating in a report on Tuesday. JMP Securities started coverage on Carbonite in a report on Tuesday, October 17th. They set an outperform rating and a $30.00 price target for the company. 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. The stock currently has an average rating of Buy and an average target price of $27.71.

Carbonite (NASDAQ:CARB) traded up $0.55 during midday trading on Tuesday, reaching $21.70. The company’s stock had a trading volume of 910,174 shares, compared to its average volume of 238,626. The stock has a market cap of $602.26, a PE ratio of -192.27, a PEG ratio of 1.72 and a beta of 0.33. The company has a debt-to-equity ratio of 3.12, a current ratio of 1.12 and a quick ratio of 1.12. Carbonite has a fifty-two week low of $18.20 and a fifty-two week high of $27.00.

In other Carbonite news, insider Cassandra Hudson sold 9,410 shares of the firm’s stock in a transaction that occurred on Monday, February 5th. The stock was sold at an average price of $23.85, for a total transaction of $224,428.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Anthony Folger sold 7,992 shares of the firm’s stock in a transaction that occurred on Monday, December 4th. The shares were sold at an average price of $23.45, for a total value of $187,412.40. The disclosure for this sale can be found here. Insiders have sold a total of 44,137 shares of company stock valued at $1,049,573 in the last 90 days. 12.20% of the stock is currently owned by company insiders.

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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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