Carbonite Inc. (CARB) Sets New 12-Month High at $14.27
Shares of Carbonite Inc. (NASDAQ:CARB) hit a new 52-week high during trading on Friday . The company traded as high as $14.27 and last traded at $14.25, with a volume of 253,627 shares traded. The stock had previously closed at $13.93.
CARB has been the subject of a number of research reports. B. Riley initiated coverage on Carbonite in a research report on Tuesday, June 14th. They issued a “buy” rating and a $15.00 price objective for the company. Zacks Investment Research upgraded Carbonite from a “hold” rating to a “buy” rating and set a $11.00 price objective for the company in a research report on Tuesday, July 12th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company. Carbonite currently has an average rating of “Buy” and a consensus price target of $13.33.
The stock has a 50-day moving average of $12.42 and a 200-day moving average of $9.49. The company’s market capitalization is $385.32 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, topping the consensus estimate of $0.03 by $0.16. During the same period last year, the company posted ($0.01) earnings per share. The company had revenue of $53.40 million for the quarter, compared to analyst estimates of $44.19 million. The business’s revenue for the quarter was up 57.2% compared to the same quarter last year. Equities research analysts predict 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 on Monday, August 8th. The stock was sold at an average price of $12.99, for a total transaction of $636,250.20. Following the sale, the director now directly owns 239,527 shares of the company’s stock, valued at approximately $3,111,455.73. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Anthony Folger sold 8,181 shares of the company’s stock in a transaction on Monday, June 6th. The stock was sold at an average price of $9.79, for a total value of $80,091.99. Following the sale, the chief financial officer now owns 305,259 shares of the company’s stock, valued at $2,988,485.61. 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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