Carbonite Inc. (CARB) Trading Down 1.7%
Carbonite Inc. (NASDAQ:CARB)’s share price dropped 1.7% on Tuesday . The stock traded as low as $9.67 and last traded at $9.85, with a volume of 89,787 shares changing hands. The stock had previously closed at $10.02.
CARB has been the subject of several analyst reports. Zacks Investment Research upgraded Carbonite from a “hold” rating to a “buy” rating and set a $8.75 price target for the company in a report on Wednesday, April 6th. Oppenheimer Holdings Inc. restated a “hold” rating on shares of Carbonite in a report on Tuesday, May 3rd. Finally, B. Riley initiated coverage on Carbonite in a report on Thursday, June 9th. They set a “buy” rating and a $15.00 price target for the company. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the stock. Carbonite currently has a consensus rating of “Buy” and an average target price of $12.67.
The company has a 50 day moving average of $9.49 and a 200-day moving average of $8.57. The firm’s market capitalization is $269.46 million.
Carbonite (NASDAQ:CARB) last announced its quarterly earnings data on Tuesday, May 3rd. The company reported $0.15 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.05) by $0.20. During the same period last year, the company earned ($0.05) EPS. The business earned $48.70 million during the quarter, compared to the consensus estimate of $41.51 million. The business’s revenue was up 45.8% compared to the same quarter last year. Analysts predict that Carbonite Inc. will post $0.33 earnings per share for the current fiscal year.
In other Carbonite news, CFO Anthony Folger sold 7,582 shares of the company’s stock in a transaction on Monday, April 25th. The stock was sold at an average price of $7.84, for a total value of $59,442.88. Following the transaction, the chief financial officer now owns 320,081 shares of the company’s stock, valued at approximately $2,509,435.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP David Raissipour sold 3,064 shares of the company’s stock in a transaction on Thursday, May 19th. The shares were sold at an average price of $8.91, for a total value of $27,300.24. Following the completion of the transaction, the senior vice president now directly owns 115,361 shares in the company, valued at approximately $1,027,866.51. The disclosure for this sale can be found here.
Carbonite, Inc (Carbonite) provides cloud and hybrid backup solutions. The Company’s solutions are designed to address the specific needs of small and medium sized businesses (SMBs) and individuals. The Company’s suite of solutions includes Carbonite Personal, which include unlimited cloud backup for one computer at three different service levels for individuals; Carbonite Pro, the Company’s small business workstation solutions automatically back up files to the cloud and include an unlimited number of devices for an annual flat fee based on the amount of storage needed, and Carbonite Server Backup, the Company’s hybrid server backup solution that protects an unlimited number of servers, databases and live applications, and offers management capabilities.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.