Carbonite Inc. (CARB) Sets New 1-Year High at $13.65
Carbonite Inc. (NASDAQ:CARB)’s share price hit a new 52-week high on Tuesday . The stock traded as high as $13.65 and last traded at $13.43, with a volume of 350,047 shares changing hands. The stock had previously closed at $13.01.
Several equities analysts recently weighed in on the stock. B. Riley restated a “buy” rating and issued a $17.00 price objective on shares of Carbonite in a report on Wednesday, August 3rd. Zacks Investment Research lowered shares of Carbonite from a “buy” rating to a “hold” rating in a report on Thursday, July 28th. Finally, Oppenheimer Holdings Inc. restated a “hold” rating on shares of Carbonite in a report on Tuesday, May 3rd. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Carbonite has a consensus rating of “Buy” and an average price target of $13.33.
The stock’s market cap is $362.49 million. The firm has a 50 day moving average of $10.45 and a 200-day moving average of $8.83.
Carbonite (NASDAQ:CARB) last issued its earnings results on Tuesday, August 2nd. The company reported $0.19 EPS for the quarter, beating the consensus estimate of $0.03 by $0.16. During the same quarter in the previous year, the firm posted ($0.01) earnings per share. The firm earned $53.40 million during the quarter, compared to analyst estimates of $44.19 million. Carbonite’s quarterly revenue was up 57.2% compared to the same quarter last year. Equities research analysts anticipate that Carbonite Inc. will post $0.50 EPS for the current year.
In other news, CFO Anthony Folger sold 8,181 shares of the business’s stock in a transaction that occurred on Monday, June 6th. The shares were sold at an average price of $9.79, for a total value of $80,091.99. Following the completion of the transaction, the chief financial officer now directly owns 305,259 shares in the company, valued at approximately $2,988,485.61. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP David Raissipour sold 3,064 shares of the business’s stock in a transaction that occurred on Thursday, May 19th. The shares were sold at an average price of $8.91, for a total transaction of $27,300.24. Following the completion of the transaction, the senior vice president now owns 115,361 shares of the company’s stock, valued at $1,027,866.51. The disclosure for this sale can be found here.
Carbonite, Inc (Carbonite) is a provider of cloud and business continuity solutions. The Company’s solutions are designed to address the specific needs of small and medium sized businesses and individuals. It offers various solutions, such as Carbonite Personal, Carbonite Pro, Carbonite Server Backup and MailStore.
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