Carbonite, Inc. (CARB) to Post Q1 2018 Earnings of $0.11 Per Share, Oppenheimer Forecasts
Carbonite, Inc. (NASDAQ:CARB) – Oppenheimer issued their Q1 2018 earnings per share estimates for Carbonite in a research note issued on Wednesday. Oppenheimer analyst B. Schwartz expects that the technology company will post earnings per share of $0.11 for the quarter. Oppenheimer also issued estimates for Carbonite’s Q2 2018 earnings at $0.19 EPS, Q3 2018 earnings at $0.30 EPS, Q4 2018 earnings at $0.40 EPS and FY2018 earnings at $1.01 EPS.
A number of other research analysts have also weighed in on CARB. Lake Street Capital reissued a “buy” rating and set a $27.00 target price (up previously from $25.00) on shares of Carbonite in a research report on Wednesday, February 14th. BidaskClub lowered shares of Carbonite from a “hold” rating to a “sell” rating in a research report on Tuesday, February 13th. TheStreet lowered shares of Carbonite from a “c+” rating to a “d” rating in a research report on Tuesday, February 13th. Finally, B. Riley boosted their target price on shares of Carbonite from $30.00 to $37.00 and gave the stock a “buy” rating in a research report on Wednesday, February 14th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and six have given a buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $29.86.
Carbonite (NASDAQ:CARB) last released its quarterly earnings data on Tuesday, February 13th. The technology company reported $0.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.29 by $0.01. The business had revenue of $61.69 million during the quarter, compared to analyst estimates of $63.72 million. Carbonite had a negative net margin of 1.67% and a positive return on equity of 42.21%.
In related news, CFO Anthony Folger sold 7,992 shares of the company’s stock in a transaction dated Monday, December 4th. The shares were sold at an average price of $23.45, for a total value of $187,412.40. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Paul S. Mellinger sold 1,940 shares of the company’s stock in a transaction dated Friday, January 5th. The shares were sold at an average price of $25.80, for a total transaction of $50,052.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 66,096 shares of company stock worth $1,517,037. Insiders own 12.20% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. We Are One Seven LLC bought a new stake in Carbonite in the fourth quarter valued at about $148,000. Fortaleza Asset Management Inc. bought a new stake in Carbonite in the fourth quarter valued at about $167,000. Oppenheimer Asset Management Inc. increased its stake in Carbonite by 167.2% in the third quarter. Oppenheimer Asset Management Inc. now owns 7,370 shares of the technology company’s stock valued at $162,000 after acquiring an additional 4,612 shares during the period. Moors & Cabot Inc. bought a new stake in Carbonite in the fourth quarter valued at about $220,000. Finally, Cubist Systematic Strategies LLC bought a new stake in Carbonite in the second quarter valued at about $231,000. 92.40% of the stock is currently owned by institutional investors and hedge funds.
COPYRIGHT VIOLATION WARNING: This news story was first reported by Daily Political and is owned by of Daily Political. If you are reading this news story on another publication, it was illegally stolen and reposted in violation of international copyright & trademark laws. The correct version of this news story can be viewed at https://www.dailypolitical.com/2018/02/20/carbonite-inc-carb-to-post-q1-2018-earnings-of-0-11-per-share-oppenheimer-forecasts.html.
Carbonite Company Profile
Carbonite, Inc provides data protection solutions, including cloud, hybrid and on-premise backup and restore, disaster recovery as a service (DRaaS) and e-mail archiving. The Company’s solutions provide enterprise-grade data protection and recovery capabilities to its customers. The Company’s small and medium-sized businesses (SMBs) plans include Carbonite Computer Backup; Carbonite Server Backup, such as Carbonite Office Power and Carbonite Office Ultimate; EVault Cloud Backup; DRaaS, and e-mail archiving.
Receive News & Ratings for Carbonite Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Carbonite and related companies with MarketBeat.com's FREE daily email newsletter.