Shares of Carbonite Inc (NASDAQ:CARB) have received a consensus recommendation of “Hold” from the fifteen ratings firms that are currently covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, ten have given a hold recommendation and three have issued a buy recommendation on the company. The average 1-year price target among brokerages that have covered the stock in the last year is $23.30.
CARB has been the topic of several research reports. William Blair reaffirmed a “market perform” rating on shares of Carbonite in a report on Monday, November 11th. Lake Street Capital downgraded Carbonite from a “buy” rating to a “hold” rating in a research report on Monday, November 11th. B. Riley lowered Carbonite from a “buy” rating to a “neutral” rating and set a $23.00 price target for the company. in a research note on Tuesday, November 12th. Jefferies Financial Group cut Carbonite from a “buy” rating to a “hold” rating and cut their price target for the company from $29.00 to $17.00 in a report on Monday, October 7th. Finally, Northland Securities downgraded Carbonite from an “outperform” rating to a “market perform” rating and reduced their price objective for the stock from $30.00 to $23.00 in a research note on Tuesday, November 12th.
CARB opened at $22.95 on Tuesday. The company has a debt-to-equity ratio of 2.58, a quick ratio of 0.68 and a current ratio of 0.68. The stock has a market capitalization of $805.13 million, a price-to-earnings ratio of 18.36, a PEG ratio of 0.78 and a beta of 0.84. The company has a fifty day moving average of $19.35 and a 200 day moving average of $19.50. Carbonite has a fifty-two week low of $11.86 and a fifty-two week high of $29.77.
Carbonite (NASDAQ:CARB) last announced its quarterly earnings results on Tuesday, November 12th. The technology company reported $0.60 EPS for the quarter, topping the consensus estimate of $0.35 by $0.25. Carbonite had a negative net margin of 5.55% and a positive return on equity of 22.46%. The business had revenue of $125.80 million for the quarter, compared to analysts’ expectations of $125.76 million. During the same quarter in the previous year, the company earned $0.48 EPS. The business’s quarterly revenue was up 61.9% compared to the same quarter last year. On average, equities research analysts forecast that Carbonite will post 1.48 earnings per share for the current year.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Mascoma Wealth Management LLC bought a new position in shares of Carbonite in the 2nd quarter valued at about $44,000. NEXT Financial Group Inc bought a new stake in Carbonite during the third quarter worth approximately $44,000. C M Bidwell & Associates Ltd. bought a new stake in Carbonite during the second quarter worth approximately $104,000. Quantamental Technologies LLC raised its position in Carbonite by 96.0% during the second quarter. Quantamental Technologies LLC now owns 5,785 shares of the technology company’s stock valued at $151,000 after purchasing an additional 2,834 shares during the period. Finally, Voloridge Investment Management LLC purchased a new stake in Carbonite during the second quarter valued at approximately $224,000. Hedge funds and other institutional investors own 95.66% of the company’s stock.
Carbonite Company Profile
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, a cloud backup solution for individuals and businesses that protects customer data from accidental deletions, crashes, ransomware, viruses, and other common threats; and Carbonite Endpoint that protects the data, which resides on an organization's computers, laptops, tablets, and smartphones.
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