Carbonite (CARB) Issues Quarterly Earnings Results

Carbonite (NASDAQ:CARB) released its quarterly earnings data on Thursday. The technology company reported $0.48 EPS for the quarter, beating the consensus estimate of $0.41 by $0.07, reports. Carbonite had a return on equity of 46.67% and a net margin of 0.39%. The company had revenue of $79.10 million for the quarter, compared to analyst estimates of $80.15 million. During the same period last year, the company posted $0.25 earnings per share. The firm’s revenue was up 25.4% compared to the same quarter last year.

Shares of Carbonite stock traded down $8.49 during trading hours on Friday, hitting $27.02. 3,163,533 shares of the company’s stock traded hands, compared to its average volume of 379,010. The company has a debt-to-equity ratio of 2.85, a current ratio of 0.73 and a quick ratio of 0.73. The company has a market capitalization of $1.11 billion, a PE ratio of 54.04, a P/E/G ratio of 0.78 and a beta of 0.55. Carbonite has a twelve month low of $20.50 and a twelve month high of $43.63.

In related news, SVP Norman Guadagno sold 12,402 shares of Carbonite stock in a transaction dated Tuesday, September 4th. The stock was sold at an average price of $41.03, for a total value of $508,854.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Deepak Mohan sold 1,355 shares of Carbonite stock in a transaction dated Thursday, September 6th. The stock was sold at an average price of $42.85, for a total value of $58,061.75. The disclosure for this sale can be found here. Insiders have sold 64,698 shares of company stock valued at $2,498,780 over the last 90 days. Insiders own 9.80% of the company’s stock.

Several research analysts have commented on CARB shares. Oppenheimer reissued a “market perform” rating on shares of Carbonite in a research report on Friday. Zacks Investment Research lowered Carbonite from a “hold” rating to a “strong sell” rating in a research report on Wednesday, July 25th. BidaskClub raised Carbonite from a “hold” rating to a “buy” rating in a research report on Saturday, July 7th. MED raised their price objective on Carbonite from $35.00 to $40.00 and gave the company an “outperform” rating in a research report on Friday, August 3rd. Finally, Jefferies Financial Group started coverage on Carbonite in a research report on Friday, October 12th. They issued a “buy” rating and a $45.00 price objective on the stock. Six analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Carbonite currently has an average rating of “Buy” and a consensus target price of $39.33.

About Carbonite

Carbonite, Inc, together with its subsidiaries, provides backup, disaster recovery, high availability, and workload migration technology solutions in the United States. Its solutions include Carbonite Safe that offers annual and multi-year cloud backup plans for individuals or businesses; and Carbonite Endpoint Protection that protects the data, which resides on an organization's computers, laptops, tablets, and smartphones.

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Earnings History for Carbonite (NASDAQ:CARB)

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