Carbonite Inc. (CARB) Hits New 1-Year High at $13.66
Carbonite Inc. (NASDAQ:CARB) hit a new 52-week high during trading on Tuesday . The stock traded as high as $13.66 and last traded at $13.22, with a volume of 175,926 shares trading hands. The stock had previously closed at $13.10.
Several equities research analysts recently commented on CARB shares. B. Riley reiterated a “buy” rating and set a $17.00 target price on shares of Carbonite in a report on Wednesday, August 3rd. Zacks Investment Research upgraded Carbonite from a “hold” rating to a “buy” rating and set a $11.00 target price on the stock in a report on Tuesday, July 12th. Finally, Oppenheimer Holdings Inc. reiterated a “hold” rating on shares of Carbonite in a report on Tuesday, May 3rd. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $13.33.
The firm’s market capitalization is $356.39 million. The firm’s 50 day moving average price is $10.98 and its 200 day moving average price is $8.98.
Carbonite (NASDAQ:CARB) last issued its quarterly earnings results on Tuesday, August 2nd. The company reported $0.19 earnings per share for the quarter, beating analysts’ consensus estimates of $0.03 by $0.16. The business had revenue of $53.40 million for the quarter, compared to analysts’ expectations of $44.19 million. During the same quarter in the prior year, the firm posted ($0.01) EPS. The business’s quarterly revenue was up 57.2% compared to the same quarter last year. Equities research analysts forecast that Carbonite Inc. will post $0.50 earnings per share for the current year.
In other Carbonite 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 transaction, the senior vice president now owns 115,361 shares in the company, valued at $1,027,866.51. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Anthony Folger sold 6,000 shares of the business’s stock in a transaction dated Wednesday, August 3rd. The shares were sold at an average price of $13.23, for a total value 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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