Other analysts have also issued research reports about the company. TheStreet lowered Carbonite from a c- rating to a d+ rating in a research note on Thursday, August 29th. Northland Securities reaffirmed a buy rating and issued a $30.00 price target on shares of Carbonite in a research note on Thursday, September 5th. Zacks Investment Research raised Carbonite from a hold rating to a buy rating and set a $27.00 price target on the stock in a research note on Thursday, July 25th. Jefferies Financial Group lowered Carbonite from a buy rating to a hold rating and decreased their price target for the company from $29.00 to $17.00 in a research note on Monday, October 7th. Finally, Stifel Nicolaus set a $18.00 price target on Carbonite and gave the company a hold rating in a research note on Friday, July 26th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and five have issued a buy rating to the company. The stock currently has a consensus rating of Hold and an average target price of $25.80.
Shares of NASDAQ:CARB traded down $0.14 during trading on Thursday, hitting $15.78. 754,439 shares of the stock were exchanged, compared to its average volume of 628,542. Carbonite has a 1-year low of $11.86 and a 1-year high of $36.40. The company has a market capitalization of $542.90 million, a price-to-earnings ratio of 12.63, a price-to-earnings-growth ratio of 0.53 and a beta of 0.74. The company’s fifty day simple moving average is $14.58 and its 200-day simple moving average is $20.59. The company has a debt-to-equity ratio of 2.49, a quick ratio of 0.64 and a current ratio of 0.64.
A number of institutional investors have recently bought and sold shares of the business. BlackRock Inc. boosted its stake in Carbonite by 7.8% in the second quarter. BlackRock Inc. now owns 2,431,549 shares of the technology company’s stock worth $63,318,000 after purchasing an additional 176,429 shares in the last quarter. Dudley & Shanley Inc. boosted its stake in Carbonite by 21.4% in the third quarter. Dudley & Shanley Inc. now owns 642,260 shares of the technology company’s stock worth $9,949,000 after purchasing an additional 113,180 shares in the last quarter. Summit Creek Advisors LLC boosted its stake in Carbonite by 4.1% in the third quarter. Summit Creek Advisors LLC now owns 606,613 shares of the technology company’s stock worth $9,396,000 after purchasing an additional 23,990 shares in the last quarter. Smith Graham & Co. Investment Advisors LP boosted its stake in Carbonite by 161.0% in the third quarter. Smith Graham & Co. Investment Advisors LP now owns 568,406 shares of the technology company’s stock worth $8,805,000 after purchasing an additional 350,598 shares in the last quarter. Finally, Bernzott Capital Advisors acquired a new position in Carbonite in the second quarter worth $14,798,000.
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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