Carbonite Inc. (CARB) Reaches New 1-Year High at $13.87
Carbonite Inc. (NASDAQ:CARB)’s share price hit a new 52-week high on Thursday . The stock traded as high as $13.87 and last traded at $13.70, with a volume of 278,426 shares changing hands. The stock had previously closed at $13.30.
Several equities analysts have recently weighed in on CARB shares. Zacks Investment Research downgraded Carbonite from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 5th. Oppenheimer Holdings Inc. restated a “hold” rating on shares of Carbonite in a report on Tuesday, May 3rd. Finally, B. Riley started coverage on Carbonite in a report on Thursday, June 9th. They set a “buy” rating and a $15.00 price target for the company. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $13.33.
The company has a 50 day moving average of $11.78 and a 200-day moving average of $9.24. The firm’s market capitalization is $370.45 million.
Carbonite (NASDAQ:CARB) last posted its quarterly earnings data on Tuesday, August 2nd. The company reported $0.19 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.03 by $0.16. During the same quarter in the previous year, the firm earned ($0.01) EPS. The business had revenue of $53.40 million for the quarter, compared to analysts’ expectations of $44.19 million. Carbonite’s revenue was up 57.2% compared to the same quarter last year. Analysts predict that Carbonite Inc. will post $0.50 earnings per share for the current fiscal year.
In other Carbonite news, Director Jeffry Flowers sold 48,980 shares of the company’s stock in a transaction on Monday, August 8th. The stock was sold at an average price of $12.99, for a total value of $636,250.20. Following the completion of the sale, the director now directly owns 239,527 shares in the company, valued at approximately $3,111,455.73. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Danielle Sheer sold 6,172 shares of the company’s stock in a transaction on Monday, June 13th. The stock was sold at an average price of $9.50, for a total value of $58,634.00. Following the completion of the sale, the vice president now owns 100,903 shares of the company’s stock, valued at $958,578.50. 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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