Shares of Carbonite Inc (NASDAQ:CARB) have earned an average rating of “Hold” from the seventeen ratings firms that are covering the stock, Marketbeat reports. One analyst has rated the stock with a sell recommendation, seven have assigned a hold recommendation and eight have assigned a buy recommendation to the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $37.00.
Several equities research analysts have recently weighed in on CARB shares. Northland Securities reissued a “buy” rating and issued a $35.00 price target on shares of Carbonite in a research note on Monday, July 1st. Barclays set a $54.00 price target on Lennar and gave the company a “buy” rating in a research note on Thursday, March 28th. Zacks Investment Research raised HB Fuller from a “sell” rating to a “hold” rating in a research note on Wednesday, July 3rd. Craig Hallum set a $43.00 price target on Carbonite and gave the company a “buy” rating in a research note on Friday, May 3rd. Finally, B. Riley set a $42.00 price target on Carbonite and gave the company a “buy” rating in a research note on Friday, May 3rd.
CARB traded down $0.30 on Friday, reaching $24.90. The stock had a trading volume of 304,158 shares, compared to its average volume of 398,686. Carbonite has a fifty-two week low of $21.83 and a fifty-two week high of $43.63. The firm’s 50-day moving average price is $24.36. The company has a debt-to-equity ratio of 2.65, a current ratio of 0.88 and a quick ratio of 0.88. The stock has a market cap of $857.81 million, a P/E ratio of 19.92, a price-to-earnings-growth ratio of 0.89 and a beta of 0.71.
Carbonite (NASDAQ:CARB) last issued its quarterly earnings results on Thursday, May 2nd. The technology company reported $0.44 earnings per share for the quarter, beating the consensus estimate of $0.26 by $0.18. The company had revenue of $81.20 million during the quarter, compared to analysts’ expectations of $77.36 million. Carbonite had a positive return on equity of 21.93% and a negative net margin of 0.76%. The business’s quarterly revenue was up 26.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.27 earnings per share. As a group, analysts predict that Carbonite will post 1.42 EPS for the current fiscal year.
In related news, CFO Anthony Folger sold 7,891 shares of the firm’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $25.84, for a total transaction of $203,903.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Mohamad Ali sold 7,199 shares of the firm’s stock in a transaction that occurred on Monday, June 17th. The stock was sold at an average price of $13.31, for a total value of $95,818.69. The disclosure for this sale can be found here. Insiders have sold 56,632 shares of company stock valued at $1,255,608 in the last ninety days. 8.00% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CARB. Quantamental Technologies LLC boosted its holdings in Carbonite by 2,085.9% in the first quarter. Quantamental Technologies LLC now owns 2,951 shares of the technology company’s stock worth $73,000 after acquiring an additional 2,816 shares in the last quarter. Advisor Group Inc. boosted its holdings in Carbonite by 21.7% in the fourth quarter. Advisor Group Inc. now owns 3,195 shares of the technology company’s stock worth $82,000 after acquiring an additional 570 shares in the last quarter. Great West Life Assurance Co. Can boosted its holdings in Carbonite by 97.3% in the fourth quarter. Great West Life Assurance Co. Can now owns 4,143 shares of the technology company’s stock worth $101,000 after acquiring an additional 2,043 shares in the last quarter. Legal & General Group Plc boosted its holdings in Carbonite by 13.7% in the fourth quarter. Legal & General Group Plc now owns 5,685 shares of the technology company’s stock worth $144,000 after acquiring an additional 687 shares in the last quarter. Finally, Oppenheimer & Co. Inc. bought a new position in Carbonite in the first quarter worth approximately $213,000.
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, a cloud backup solution for individuals and businesses that protects customer data from accidental deletions, crashes, ransomware, viruses, and other common threats; and Carbonite Endpoint that protects the data, which resides on an organization's computers, laptops, tablets, and smartphones.
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