Carbonite Inc. (CARB) Stock Price Down 1.7%
Carbonite Inc. (NASDAQ:CARB)’s share price fell 1.7% during mid-day trading on Tuesday . The company traded as low as $9.67 and last traded at $9.85, with a volume of 89,787 shares traded. The stock had previously closed at $10.02.
CARB has been the topic of several research analyst reports. Zacks Investment Research upgraded shares of Carbonite from a “hold” rating to a “buy” rating and set a $11.00 target price on the stock in a research note on Tuesday. B. Riley initiated coverage on shares of Carbonite in a research note on Tuesday, June 14th. They set a “buy” rating and a $15.00 target price on the stock. Finally, Oppenheimer Holdings Inc. restated a “hold” rating on shares of Carbonite in a research note on Tuesday, May 3rd. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. Carbonite has an average rating of “Buy” and a consensus target price of $12.67.
The firm has a 50-day moving average of $9.54 and a 200 day moving average of $8.59. The firm’s market cap is $270.54 million.
Carbonite (NASDAQ:CARB) last announced its quarterly earnings results on Tuesday, May 3rd. The company reported $0.15 EPS for the quarter, beating the consensus estimate of ($0.05) by $0.20. The firm had revenue of $48.70 million for the quarter, compared to analysts’ expectations of $41.51 million. The business’s quarterly revenue was up 45.8% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.05) EPS. On average, equities analysts expect that Carbonite Inc. will post $0.33 earnings per share for the current fiscal year.
In other Carbonite news, SVP David Raissipour sold 3,064 shares of Carbonite stock in a transaction dated Thursday, May 19th. The stock was sold at an average price of $8.91, for a total value of $27,300.24. Following the transaction, the senior vice president now owns 115,361 shares in the company, valued at $1,027,866.51. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Anthony Folger sold 7,582 shares of Carbonite stock in a transaction dated Monday, April 25th. The shares were sold at an average price of $7.84, for a total value of $59,442.88. Following the completion of the transaction, the chief financial officer now owns 320,081 shares in the company, valued at approximately $2,509,435.04. 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.
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