Carbonite (NASDAQ:CARB) issued an update on its first quarter earnings guidance on Tuesday morning. The company provided earnings per share guidance of $0.20-0.24 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $0.22. The company issued revenue guidance of $61.7-63.7 million, compared to the consensus revenue estimate of $65.02 million.Carbonite also updated its FY18 guidance to $1.45-1.55 EPS.
Shares of Carbonite (NASDAQ CARB) traded up $0.55 during trading on Tuesday, hitting $21.70. The company had a trading volume of 910,174 shares, compared to its average volume of 238,626. The company has a debt-to-equity ratio of 3.12, a quick ratio of 1.12 and a current ratio of 1.12. The company has a market capitalization of $602.26, a P/E ratio of -192.27, a PEG ratio of 1.72 and a beta of 0.33. Carbonite has a one year low of $18.20 and a one year high of $27.00.
CARB has been the subject of a number of research reports. BidaskClub upgraded Carbonite from a hold rating to a buy rating in a report on Friday, December 22nd. JMP Securities initiated coverage on Carbonite in a report on Tuesday, October 17th. They issued an outperform rating and a $30.00 price objective for the company. One analyst has rated the stock with a sell rating, one has assigned a hold rating and six have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of Buy and an average price target of $27.71.
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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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