Carbonite Inc. (CARB) Trading 3.6% Higher
Carbonite Inc. (NASDAQ:CARB) shares traded up 3.6% on Friday . The company traded as high as $10.85 and last traded at $10.84, with a volume of 126,319 shares trading hands. The stock had previously closed at $10.46.
A number of research analysts have weighed in on the company. Zacks Investment Research upgraded Carbonite from a “hold” rating to a “buy” rating and set a $11.00 price target for the company in a research note on Tuesday, July 12th. B. Riley assumed coverage on Carbonite in a research note on Thursday, June 9th. They issued a “buy” rating and a $15.00 price target for the company. Finally, Oppenheimer Holdings Inc. restated a “hold” rating on shares of Carbonite in a research note on Tuesday, May 3rd. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company. Carbonite has an average rating of “Buy” and an average target price of $12.67.
The firm’s market capitalization is $290.75 million. The stock’s 50 day moving average price is $9.74 and its 200-day moving average price is $8.63.
Carbonite (NASDAQ:CARB) last announced its quarterly earnings data on Tuesday, May 3rd. The company reported $0.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.20. The business earned $48.70 million during the quarter, compared to analyst estimates of $41.51 million. The firm’s revenue for the quarter was up 45.8% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.05) earnings per share. Equities analysts anticipate that Carbonite Inc. will post $0.33 EPS for the current year.
In related news, CFO Anthony Folger sold 7,582 shares of the company’s stock in a transaction that occurred on Monday, April 25th. The stock was sold at an average price of $7.84, for a total transaction of $59,442.88. Following the transaction, the chief financial officer now directly owns 320,081 shares of the company’s stock, valued at approximately $2,509,435.04. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, major shareholder Mv Management X, L.L.C. sold 440,000 shares of the company’s stock in a transaction that occurred on Wednesday, June 8th. The stock was sold at an average price of $9.85, for a total value of $4,334,000.00. 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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