Carbonite (NASDAQ:CARB)‘s stock had its “neutral” rating reaffirmed by equities research analysts at Rosenblatt Securities in a research note issued on Friday.
Several other research analysts have also recently issued reports on CARB. Lake Street Capital raised their price objective on Carbonite to $39.00 and gave the stock a “buy” rating in a research note on Friday. Zacks Investment Research upgraded Carbonite from a “hold” rating to a “strong-buy” rating and set a $33.00 price target for the company in a research report on Tuesday, November 6th. BidaskClub upgraded Carbonite from a “sell” rating to a “hold” rating in a research report on Wednesday, October 17th. Finally, Stifel Nicolaus cut Carbonite from a “buy” rating to a “hold” rating and reduced their price target for the company from $44.00 to $25.00 in a research report on Friday. Seven analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $37.00.
NASDAQ CARB traded down $5.55 during trading on Friday, hitting $23.75. The company’s stock had a trading volume of 1,957,555 shares, compared to its average volume of 226,936. Carbonite has a fifty-two week low of $20.50 and a fifty-two week high of $43.63. The company has a market cap of $1.02 billion, a PE ratio of 47.50, a P/E/G ratio of 1.19 and a beta of 0.78.
Carbonite (NASDAQ:CARB) last announced its quarterly earnings data on Thursday, February 7th. The technology company reported $0.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.29 by $0.07. Carbonite had a return on equity of 29.30% and a net margin of 1.85%. The firm had revenue of $77.00 million during the quarter, compared to analysts’ expectations of $79.53 million. During the same period last year, the business posted $0.30 earnings per share. The company’s revenue for the quarter was up 24.8% compared to the same quarter last year. On average, analysts expect that Carbonite will post 1.13 EPS for the current year.
In other Carbonite news, CEO Mohamad Ali sold 4,000 shares of the firm’s stock in a transaction that occurred on Monday, December 3rd. The stock was sold at an average price of $28.25, for a total value of $113,000.00. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Scott Andrew Daniels acquired 2,000 shares of the company’s stock in a transaction on Tuesday, November 13th. The stock was acquired at an average cost of $27.57 per share, for a total transaction of $55,140.00. Following the completion of the acquisition, the director now owns 42,070 shares of the company’s stock, valued at approximately $1,159,869.90. The disclosure for this purchase can be found here. Over the last quarter, insiders have sold 72,255 shares of company stock valued at $1,981,736. 9.80% of the stock is owned by company insiders.
A number of institutional investors and hedge funds have recently modified their holdings of the business. Legal & General Group Plc grew its holdings in Carbonite by 17.8% in the third quarter. Legal & General Group Plc now owns 4,998 shares of the technology company’s stock valued at $178,000 after purchasing an additional 756 shares during the period. Advisors Asset Management Inc. grew its holdings in Carbonite by 73.2% in the fourth quarter. Advisors Asset Management Inc. now owns 3,147 shares of the technology company’s stock valued at $79,000 after purchasing an additional 1,330 shares during the period. TIAA CREF Investment Management LLC grew its holdings in Carbonite by 3.1% in the third quarter. TIAA CREF Investment Management LLC now owns 60,161 shares of the technology company’s stock valued at $2,145,000 after purchasing an additional 1,789 shares during the period. Lisanti Capital Growth LLC grew its holdings in Carbonite by 2.7% in the third quarter. Lisanti Capital Growth LLC now owns 87,980 shares of the technology company’s stock valued at $3,136,000 after purchasing an additional 2,338 shares during the period. Finally, WINTON GROUP Ltd grew its holdings in Carbonite by 30.4% in the third quarter. WINTON GROUP Ltd now owns 11,332 shares of the technology company’s stock valued at $404,000 after purchasing an additional 2,640 shares during the period.
Carbonite, Inc, together with its subsidiaries, provides backup, disaster recovery, high availability, and workload migration technology solutions in the United States. Its solutions include Carbonite Safe that offers annual and multi-year cloud backup plans for individuals or businesses; and Carbonite Endpoint Protection that protects the data, which resides on an organization's computers, laptops, tablets, and smartphones.
Further Reading: Why is the ROA ratio important?
Receive News & Ratings for Carbonite Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Carbonite and related companies with MarketBeat.com's FREE daily email newsletter.