Carbonite Inc. (CARB) Trading Up 3.6%
Shares of Carbonite Inc. (NASDAQ:CARB) were up 3.6% during trading on Friday . The company traded as high as $10.85 and last traded at $10.84, with a volume of 126,319 shares traded. The stock had previously closed at $10.46.
A number of analysts have recently commented on CARB shares. Zacks Investment Research raised shares of Carbonite from a “hold” rating to a “buy” rating and set a $11.00 price objective on the stock in a research report on Tuesday, July 12th. Oppenheimer Holdings Inc. reissued a “hold” rating on shares of Carbonite in a research report on Tuesday, May 3rd. Finally, B. Riley started coverage on shares of Carbonite in a research report on Thursday, June 9th. They issued a “buy” rating and a $15.00 price objective on the stock. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $12.67.
The stock has a 50 day moving average of $9.74 and a 200-day moving average of $8.63. The stock’s market cap is $290.75 million.
Carbonite (NASDAQ:CARB) last announced its quarterly earnings data on Tuesday, May 3rd. The company reported $0.15 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.05) by $0.20. During the same quarter in the prior year, the firm posted ($0.05) earnings per share. The firm earned $48.70 million during the quarter, compared to the consensus estimate of $41.51 million. The company’s revenue was up 45.8% on a year-over-year basis. On average, equities research analysts anticipate that Carbonite Inc. will post $0.33 EPS for the current fiscal year.
In related news, SVP David Raissipour sold 3,064 shares of the business’s stock in a transaction dated Thursday, May 19th. The stock was sold at an average price of $8.91, for a total value of $27,300.24. Following the sale, the senior vice president now directly owns 115,361 shares in the company, valued at approximately $1,027,866.51. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Danielle Sheer sold 6,172 shares of the business’s stock in a transaction dated Monday, June 13th. The shares were 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 in the company, valued at $958,578.50. The disclosure for this sale can be found here.
Carbonite, Inc (Carbonite) provides cloud and hybrid backup solutions. The Company’s solutions are designed to address the specific needs of small and medium sized businesses (SMBs) and individuals. The Company’s suite of solutions includes Carbonite Personal, which include unlimited cloud backup for one computer at three different service levels for individuals; Carbonite Pro, the Company’s small business workstation solutions automatically back up files to the cloud and include an unlimited number of devices for an annual flat fee based on the amount of storage needed, and Carbonite Server Backup, the Company’s hybrid server backup solution that protects an unlimited number of servers, databases and live applications, and offers management capabilities.
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