Carbonite Inc. (CARB) Reaches New 1-Year High at $14.27
Shares of Carbonite Inc. (NASDAQ:CARB) hit a new 52-week high on Friday . The company traded as high as $14.27 and last traded at $14.25, with a volume of 253,627 shares changing hands. The stock had previously closed at $13.93.
A number of analysts have weighed in on CARB shares. Zacks Investment Research downgraded shares of Carbonite from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 5th. B. Riley started coverage on shares of Carbonite in a report on Thursday, June 9th. They issued a “buy” rating and a $15.00 price target for the company. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $13.33.
The firm has a 50-day moving average of $12.48 and a 200-day moving average of $9.53. The stock’s market cap is $385.32 million.
Carbonite (NASDAQ:CARB) last posted its earnings results on Tuesday, August 2nd. The company reported $0.19 EPS for the quarter, topping analysts’ consensus estimates of $0.03 by $0.16. The company earned $53.40 million during the quarter, compared to the consensus estimate of $44.19 million. During the same period last year, the company posted ($0.01) EPS. The firm’s revenue was up 57.2% compared to the same quarter last year. On average, equities research analysts forecast that Carbonite Inc. will post $0.50 earnings per share for the current fiscal year.
In other news, Director Jeffry Flowers sold 48,980 shares of the stock in a transaction dated Monday, August 8th. The shares were sold at an average price of $12.99, for a total value of $636,250.20. Following the completion of the transaction, the director now owns 239,527 shares of the company’s stock, valued at $3,111,455.73. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Anthony Folger sold 6,000 shares of the stock in a transaction dated Wednesday, August 3rd. The stock was sold at an average price of $13.23, for a total transaction of $79,380.00. 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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