Carbonite Inc. (CARB) Reaches New 52-Week High at $13.65
Carbonite Inc. (NASDAQ:CARB) shares hit a new 52-week high during trading on Tuesday . The stock traded as high as $13.65 and last traded at $13.43, with a volume of 350,047 shares. The stock had previously closed at $13.01.
Several research analysts have recently commented on the stock. B. Riley restated a “buy” rating and set a $17.00 price target on shares of Carbonite in a research note on Wednesday, August 3rd. Zacks Investment Research lowered shares of Carbonite from a “buy” rating to a “hold” rating in a research note on Thursday, July 28th. Finally, Oppenheimer Holdings Inc. reiterated a “hold” rating on shares of Carbonite in a research note on Tuesday, May 3rd. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $13.33.
The stock’s 50-day moving average price is $10.67 and its 200-day moving average price is $8.89. The stock’s market cap is $357.25 million.
Carbonite (NASDAQ:CARB) last released its quarterly earnings data on Tuesday, August 2nd. The company reported $0.19 EPS for the quarter, beating the Zacks’ consensus estimate of $0.03 by $0.16. The firm earned $53.40 million during the quarter, compared to the consensus estimate of $44.19 million. Carbonite’s quarterly revenue was up 57.2% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.01) EPS. Equities research analysts anticipate that Carbonite Inc. will post $0.50 earnings per share for the current fiscal year.
In related news, Director Jeffry Flowers sold 48,980 shares of the company’s stock in a transaction on 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 directly owns 239,527 shares of the company’s stock, valued at approximately $3,111,455.73. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 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.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.