Carbonite Inc. (CARB) Sets New 12-Month High at $13.87
Carbonite Inc. (NASDAQ:CARB) shares hit a new 52-week high during trading on Thursday . The company traded as high as $13.87 and last traded at $13.70, with a volume of 278,426 shares trading hands. The stock had previously closed at $13.30.
CARB has been the subject of a number of analyst reports. Zacks Investment Research downgraded shares of Carbonite from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 5th. Oppenheimer Holdings Inc. reissued a “hold” rating on shares of Carbonite in a research report on Tuesday, May 3rd. Finally, B. Riley initiated coverage on shares of Carbonite in a research report on Thursday, June 9th. They issued a “buy” rating and a $15.00 price objective for the company. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $13.33.
The company has a 50 day moving average of $11.91 and a 200 day moving average of $9.29. The company’s market capitalization is $378.29 million.
Carbonite (NASDAQ:CARB) last released its earnings results 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. The company had revenue of $53.40 million for the quarter, compared to analyst estimates of $44.19 million. During the same quarter in the previous year, the firm earned ($0.01) EPS. The firm’s revenue was up 57.2% on a year-over-year basis. On average, analysts forecast that Carbonite Inc. will post $0.50 earnings per share for the current fiscal year.
In other Carbonite news, CFO Anthony Folger sold 6,000 shares of the company’s stock in a transaction on Wednesday, August 3rd. The shares were sold at an average price of $13.23, for a total transaction of $79,380.00. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, major shareholder Mv Management X, L.L.C. sold 440,000 shares of the company’s stock in a transaction on Wednesday, June 8th. The stock was sold at an average price of $9.85, for a total transaction of $4,334,000.00. 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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