B. Riley set a $35.00 price target on Carbonite (NASDAQ:CARB) in a research note issued to investors on Tuesday, TipRanks reports. The brokerage currently has a buy rating on the technology company’s stock.
A number of other brokerages have also recently commented on CARB. Barclays cut shares of Carbonite from an overweight rating to an underweight rating and reduced their target price for the company from $32.00 to $20.00 in a report on Friday, July 26th. ValuEngine downgraded shares of Carbonite from a sell rating to a strong sell rating in a research report on Saturday, July 27th. Northland Securities reiterated a buy rating and set a $30.00 price target on shares of Carbonite in a research note on Thursday, September 5th. JMP Securities cut their price objective on shares of Carbonite to $28.00 and set an outperform rating for the company in a research report on Friday, July 26th. Finally, Stifel Nicolaus set a $18.00 price objective on Carbonite and gave the stock a hold rating in a research note on Friday, July 26th. Three research analysts have rated the stock with a sell rating, six have issued a hold rating and seven have assigned a buy rating to the company’s stock. Carbonite currently has an average rating of Hold and a consensus target price of $28.73.
NASDAQ:CARB traded down $0.35 on Tuesday, hitting $15.35. The stock had a trading volume of 959,989 shares, compared to its average volume of 637,975. The business’s 50-day simple moving average is $15.28 and its two-hundred day simple moving average is $22.16. The stock has a market cap of $514.10 million, a price-to-earnings ratio of 12.28, a price-to-earnings-growth ratio of 0.50 and a beta of 0.71. Carbonite has a 52-week low of $11.86 and a 52-week high of $42.56. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 2.49.
In related news, CFO Anthony Folger sold 7,891 shares of Carbonite stock in a transaction on Monday, July 1st. The shares were sold at an average price of $25.84, for a total transaction of $203,903.44. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Mohamad Ali sold 7,199 shares of the company’s stock in a transaction on Monday, June 17th. The stock was sold at an average price of $13.31, for a total transaction of $95,818.69. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 18,516 shares of company stock worth $375,188. 8.00% of the stock is owned by company insiders.
Large investors have recently bought and sold shares of the business. Mascoma Wealth Management LLC purchased a new position in shares of Carbonite in the second quarter valued at about $44,000. Harel Insurance Investments & Financial Services Ltd. bought a new stake in Carbonite during the 2nd quarter valued at approximately $78,000. Atria Investments LLC bought a new stake in Carbonite during the 2nd quarter valued at approximately $78,000. C M Bidwell & Associates Ltd. bought a new stake in Carbonite during the 2nd quarter valued at approximately $104,000. Finally, Quantamental Technologies LLC lifted its holdings in Carbonite by 96.0% in the 2nd quarter. Quantamental Technologies LLC now owns 5,785 shares of the technology company’s stock worth $151,000 after purchasing an additional 2,834 shares in the last quarter.
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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