Investment Analysts’ Weekly Ratings Changes for Carbonite (CARB)

Several brokerages have updated their recommendations and price targets on shares of Carbonite (NASDAQ: CARB) in the last few weeks:

  • 11/2/2018 – Carbonite had its “market perform” rating reaffirmed by analysts at CIBC.
  • 11/2/2018 – Carbonite had its “market perform” rating reaffirmed by analysts at Oppenheimer Holdings Inc..
  • 11/2/2018 – Carbonite was downgraded by analysts at med from an “outperform” rating to a “market perform” rating.
  • 11/2/2018 – Carbonite was downgraded by analysts at ValuEngine from a “buy” rating to a “hold” rating.
  • 10/17/2018 – Carbonite was upgraded by analysts at BidaskClub from a “sell” rating to a “hold” rating.
  • 10/12/2018 – Carbonite is now covered by analysts at Jefferies Financial Group Inc. They set a “buy” rating and a $45.00 price target on the stock.
  • 10/5/2018 – Carbonite was downgraded by analysts at BidaskClub from a “hold” rating to a “sell” rating.
  • 10/5/2018 – Carbonite is now covered by analysts at Royal Bank of Canada. They set an “outperform” rating and a $42.00 price target on the stock.
  • 10/3/2018 – Carbonite was downgraded by analysts at Zacks Investment Research from a “strong-buy” rating to a “hold” rating. According to Zacks, “Carbonite Inc. is a computer service company which provides online backup solutions for consumers and small and medium sized businesses to retrieve files if lost on the internet. The Company’s backup solutions work automatically and continuously uploading encrypted copies of its customer’s files to the servers known as Carbonite Personal Cloud. Carbonite Inc. is headquartered in Boston, Massachusetts. “
  • 9/24/2018 – Carbonite was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “strong-buy” rating. They now have a $42.00 price target on the stock. According to Zacks, “Carbonite Inc. is a computer service company which provides online backup solutions for consumers and small and medium sized businesses to retrieve files if lost on the internet. The Company’s backup solutions work automatically and continuously uploading encrypted copies of its customer’s files to the servers known as Carbonite Personal Cloud. Carbonite Inc. is headquartered in Boston, Massachusetts. “
  • 9/18/2018 – Carbonite was downgraded by analysts at BidaskClub from a “buy” rating to a “hold” rating.
  • 9/8/2018 – Carbonite was upgraded by analysts at BidaskClub from a “hold” rating to a “buy” rating.

Shares of NASDAQ:CARB opened at $28.41 on Tuesday. The firm has a market cap of $906.57 million, a price-to-earnings ratio of 56.82, a P/E/G ratio of 0.64 and a beta of 0.69. Carbonite Inc has a 12-month low of $20.50 and a 12-month high of $43.63. The company has a debt-to-equity ratio of 2.85, a current ratio of 0.73 and a quick ratio of 0.73.

Carbonite (NASDAQ:CARB) last announced its quarterly earnings data on Thursday, November 1st. The technology company reported $0.48 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.41 by $0.07. The business had revenue of $79.10 million during the quarter, compared to analysts’ expectations of $80.15 million. Carbonite had a return on equity of 56.42% and a net margin of 1.85%. The firm’s quarterly revenue was up 25.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.25 earnings per share. As a group, research analysts anticipate that Carbonite Inc will post 1.05 EPS for the current year.

In other Carbonite news, CFO Anthony Folger sold 1,612 shares of Carbonite stock in a transaction on Thursday, August 30th. The stock was sold at an average price of $41.60, for a total value of $67,059.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Norman Guadagno sold 4,294 shares of Carbonite stock in a transaction on Tuesday, October 30th. The stock was sold at an average price of $32.55, for a total value of $139,769.70. The disclosure for this sale can be found here. Insiders have sold 64,698 shares of company stock valued at $2,498,780 in the last quarter. 9.80% of the stock is owned by company insiders.

Several institutional investors have recently bought and sold shares of CARB. Wells Fargo & Company MN increased its holdings in shares of Carbonite by 154.8% in the 3rd quarter. Wells Fargo & Company MN now owns 361,810 shares of the technology company’s stock worth $12,900,000 after purchasing an additional 219,826 shares in the last quarter. Millennium Management LLC bought a new stake in shares of Carbonite in the 1st quarter worth $5,825,000. Intrinsic Edge Capital Management LLC bought a new stake in shares of Carbonite in the 2nd quarter worth $6,746,000. BlackRock Inc. increased its holdings in shares of Carbonite by 10.9% in the 2nd quarter. BlackRock Inc. now owns 1,820,014 shares of the technology company’s stock worth $63,521,000 after purchasing an additional 179,098 shares in the last quarter. Finally, American Century Companies Inc. bought a new stake in shares of Carbonite in the 3rd quarter worth $6,119,000. 84.81% of the stock is owned by institutional investors and hedge funds.

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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