Carbonite, Inc. (NASDAQ:CARB) – Oppenheimer issued their Q1 2018 earnings estimates for Carbonite in a report issued on Wednesday. Oppenheimer analyst B. Schwartz forecasts that the technology company will post earnings of $0.11 per share 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.
Carbonite (NASDAQ:CARB) last announced its quarterly earnings data on Tuesday, February 13th. The technology company reported $0.30 earnings per share for the quarter, beating analysts’ consensus estimates of $0.29 by $0.01. The company had revenue of $61.69 million for the quarter, compared to analyst estimates of $63.72 million. Carbonite had a positive return on equity of 42.21% and a negative net margin of 1.67%.
A number of other research analysts have also weighed in on CARB. Lake Street Capital restated a “buy” rating and issued a $27.00 price objective (up previously from $25.00) on shares of Carbonite in a report on Wednesday, February 14th. BidaskClub lowered Carbonite from a “hold” rating to a “sell” rating in a report on Tuesday, February 13th. TheStreet lowered Carbonite from a “c+” rating to a “d” rating in a report on Tuesday, February 13th. Finally, B. Riley raised their price objective on Carbonite from $30.00 to $37.00 and gave the company a “buy” rating in a report on Wednesday, February 14th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and six have issued a buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $29.86.
Carbonite (NASDAQ:CARB) opened at $28.60 on Monday. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 3.12. The firm has a market capitalization of $776.93, a price-to-earnings ratio of -190.65, a price-to-earnings-growth ratio of 0.70 and a beta of 0.33. Carbonite has a fifty-two week low of $18.20 and a fifty-two week high of $30.65.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Brown Advisory Inc. raised its holdings in shares of Carbonite by 24.4% during the 3rd quarter. Brown Advisory Inc. now owns 15,614 shares of the technology company’s stock worth $344,000 after acquiring an additional 3,065 shares during the period. Nationwide Fund Advisors raised its holdings in shares of Carbonite by 29.8% during the 2nd quarter. Nationwide Fund Advisors now owns 14,138 shares of the technology company’s stock worth $308,000 after acquiring an additional 3,250 shares during the period. Cadence Capital Management LLC raised its holdings in shares of Carbonite by 5.1% during the 3rd quarter. Cadence Capital Management LLC now owns 73,109 shares of the technology company’s stock worth $1,608,000 after acquiring an additional 3,553 shares during the period. Virginia Retirement Systems ET AL raised its holdings in shares of Carbonite by 14.2% during the 3rd quarter. Virginia Retirement Systems ET AL now owns 33,800 shares of the technology company’s stock worth $744,000 after acquiring an additional 4,200 shares during the period. Finally, Pembroke Management LTD raised its holdings in shares of Carbonite by 0.4% during the 4th quarter. Pembroke Management LTD now owns 1,250,153 shares of the technology company’s stock worth $31,378,000 after acquiring an additional 4,400 shares during the period. Institutional investors and hedge funds own 92.40% of the company’s stock.
In other news, insider Cassandra Hudson sold 5,382 shares of Carbonite stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $21.92, for a total transaction of $117,973.44. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Anthony Folger sold 7,992 shares of Carbonite stock in a transaction on Monday, December 4th. The stock was sold at an average price of $23.45, for a total value of $187,412.40. The disclosure for this sale can be found here. In the last quarter, insiders have sold 66,096 shares of company stock worth $1,517,037. Insiders own 12.20% of the company’s stock.
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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.
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