Carbonite, Inc. (NASDAQ:CARB) has received a consensus recommendation of “Buy” from the six ratings firms that are presently covering the firm, MarketBeat.com reports. Four equities research analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $24.60.
Several equities research analysts recently commented on CARB shares. Craig Hallum started coverage on shares of Carbonite in a research report on Thursday, March 16th. They issued a “buy” rating and a $30.00 price target for the company. Lake Street Capital increased their target price on shares of Carbonite from $21.00 to $23.00 and gave the stock a “buy” rating in a research report on Tuesday, February 28th. Finally, B. Riley reiterated a “buy” rating and issued a $22.50 target price on shares of Carbonite in a research report on Thursday, February 16th.
ILLEGAL ACTIVITY WARNING: “Carbonite, Inc. (CARB) Receives Average Rating of “Buy” from Brokerages” was first posted by Chaffey Breeze and is the property of of Chaffey Breeze. If you are accessing this piece of content on another domain, it was illegally copied and republished in violation of United States and international trademark and copyright law. The correct version of this piece of content can be read at https://www.chaffeybreeze.com/2017/06/16/carbonite-inc-carb-receives-24-60-average-target-price-from-brokerages-updated-updated.html.
In other news, CFO Anthony Folger sold 6,141 shares of the firm’s stock in a transaction dated Friday, March 24th. The shares were sold at an average price of $19.38, for a total transaction of $119,012.58. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Paul S. Mellinger sold 7,500 shares of the firm’s stock in a transaction dated Tuesday, May 9th. The stock was sold at an average price of $21.04, for a total transaction of $157,800.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 68,502 shares of company stock valued at $1,389,175. Insiders own 12.20% of the company’s stock.
Large investors have recently bought and sold shares of the stock. TimesSquare Capital Management LLC bought a new stake in Carbonite during the first quarter valued at $20,504,000. G2 Investment Partners Management LLC boosted its stake in shares of Carbonite by 208.8% in the third quarter. G2 Investment Partners Management LLC now owns 782,946 shares of the technology company’s stock valued at $12,026,000 after buying an additional 529,361 shares in the last quarter. Northpointe Capital LLC acquired a new stake in shares of Carbonite during the first quarter valued at approximately $10,061,000. Divisar Capital Management LLC acquired a new stake in shares of Carbonite during the fourth quarter valued at approximately $7,866,000. Finally, Vanguard Group Inc. boosted its stake in shares of Carbonite by 41.5% in the first quarter. Vanguard Group Inc. now owns 1,468,756 shares of the technology company’s stock valued at $29,816,000 after buying an additional 430,556 shares in the last quarter. Hedge funds and other institutional investors own 91.56% of the company’s stock.
Carbonite (NASDAQ:CARB) traded up 0.69% during midday trading on Monday, hitting $21.80. 339,675 shares of the stock were exchanged. Carbonite has a 52 week low of $8.81 and a 52 week high of $22.00. The stock has a market cap of $599.33 million, a price-to-earnings ratio of 72.43 and a beta of 0.23. The firm’s 50-day moving average is $20.24 and its 200 day moving average is $19.01.
Carbonite (NASDAQ:CARB) last released its earnings results on Thursday, May 4th. The technology company reported $0.09 EPS for the quarter, beating the consensus estimate of $0.07 by $0.02. The business had revenue of $57.10 million during the quarter, compared to analyst estimates of $55.49 million. Carbonite had a net margin of 3.79% and a return on equity of 200.32%. The business’s quarterly revenue was up 18.7% on a year-over-year basis. During the same period in the prior year, the business earned $0.15 earnings per share. Equities research analysts expect that Carbonite will post $0.77 EPS for the current fiscal year.
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.
Receive News & Ratings for Carbonite Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Carbonite Inc. and related companies with MarketBeat.com's FREE daily email newsletter.