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, Briefing.com 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.
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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