Oppenheimer reiterated their market perform rating on shares of Carbonite (NASDAQ:CARB) in a report released on Friday, MarketBeat.com reports.
Other equities research analysts have also issued research reports about the company. BidaskClub upgraded Carbonite from a hold rating to a buy rating in a research note on Saturday, September 8th. Stifel Nicolaus initiated coverage on Carbonite in a research note on Monday, August 20th. They set a buy rating and a $44.00 price objective for the company. Jefferies Financial Group initiated coverage on Carbonite in a research report on Friday, October 12th. They issued a buy rating and a $45.00 target price for the company. TheStreet upgraded Carbonite from a d+ rating to a c rating in a research report on Friday, August 3rd. Finally, Barclays lifted their target price on Carbonite from $38.00 to $41.00 and gave the stock an equal weight rating in a research report on Tuesday, July 24th. Seven equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Carbonite has a consensus rating of Buy and a consensus price target of $39.33.
Shares of NASDAQ CARB opened at $28.41 on Friday. Carbonite has a fifty-two week low of $20.50 and a fifty-two week high of $43.63. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 2.85. The company has a market cap of $906.57 million, a price-to-earnings ratio of 56.82, a price-to-earnings-growth ratio of 0.64 and a beta of 0.69.
Carbonite (NASDAQ:CARB) last issued its quarterly earnings data on Thursday, November 1st. The technology company reported $0.48 earnings per share for the quarter, beating analysts’ consensus estimates of $0.41 by $0.07. Carbonite had a return on equity of 56.42% and a net margin of 1.85%. The firm had revenue of $79.10 million during the quarter, compared to analyst estimates of $80.15 million. During the same quarter last year, the firm earned $0.25 EPS. Carbonite’s quarterly revenue was up 25.4% on a year-over-year basis. Equities analysts expect that Carbonite will post 1.05 earnings per share for the current fiscal year.
In other news, SVP Norman Guadagno sold 4,294 shares of Carbonite stock in a transaction that occurred on Tuesday, October 30th. The stock was sold at an average price of $32.55, for a total value of $139,769.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Anthony Folger sold 1,612 shares of Carbonite stock in a transaction that occurred on Thursday, August 30th. The stock was sold at an average price of $41.60, for a total value of $67,059.20. The disclosure for this sale can be found here. In the last quarter, insiders sold 64,698 shares of company stock valued at $2,498,780. Insiders own 9.80% of the company’s stock.
Several institutional investors and hedge funds have recently modified their holdings of CARB. WINTON GROUP Ltd acquired a new position in Carbonite during the 1st quarter valued at approximately $213,000. NumerixS Investment Technologies Inc acquired a new position in Carbonite during the 2nd quarter valued at approximately $221,000. A.R.T. Advisors LLC acquired a new position in Carbonite during the 1st quarter valued at approximately $237,000. Raymond James & Associates acquired a new position in Carbonite during the 2nd quarter valued at approximately $267,000. Finally, Xact Kapitalforvaltning AB acquired a new position in Carbonite during the 3rd quarter valued at approximately $267,000. Institutional investors own 84.81% of the company’s stock.
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.
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