Carbonite (CARB) Posts Earnings Results, Beats Expectations By $0.01 EPS

Carbonite (NASDAQ:CARB) posted its earnings results on Tuesday. The technology company reported $0.30 EPS for the quarter, topping analysts’ consensus estimates of $0.29 by $0.01, Bloomberg Earnings reports. Carbonite had a positive return on equity of 32.85% and a negative net margin of 1.32%. Carbonite updated its Q1 guidance to $0.20-0.24 EPS and its FY18 guidance to $1.45-1.55 EPS.

Carbonite (NASDAQ:CARB) opened at $21.70 on Wednesday. The company has a market capitalization of $591.09, a P/E ratio of -197.27, a PEG ratio of 1.69 and a beta of 0.33. Carbonite has a 52 week low of $18.20 and a 52 week high of $27.00. The company has a debt-to-equity ratio of 3.12, a quick ratio of 1.12 and a current ratio of 1.12.

In related news, CAO Cassandra Hudson sold 5,252 shares of the stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $24.06, for a total value of $126,363.12. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, SVP Paul S. Mellinger sold 1,940 shares of the stock in a transaction that occurred on Friday, January 5th. The stock was sold at an average price of $25.80, for a total value of $50,052.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 44,137 shares of company stock worth $1,049,573. Insiders own 12.20% of the company’s stock.

Several equities research analysts have weighed in on the company. B. Riley boosted their price objective on Carbonite from $30.00 to $37.00 and gave the stock a “buy” rating in a research note on Wednesday. BidaskClub cut Carbonite from a “buy” rating to a “hold” rating in a research note on Thursday, January 18th. Finally, JMP Securities assumed coverage on Carbonite in a research note on Tuesday, October 17th. They set an “outperform” rating and a $30.00 price objective on the stock. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and six have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $29.29.

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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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