Carbonite Inc (NASDAQ:CARB) Given Average Rating of “Hold” by Analysts

Carbonite Inc (NASDAQ:CARB) has been assigned an average rating of “Hold” from the sixteen brokerages that are presently covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and five have assigned a buy rating to the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $25.80.

CARB has been the subject of several recent research reports. ValuEngine raised shares of Carbonite from a “sell” rating to a “hold” rating in a research report on Wednesday, October 2nd. Zacks Investment Research raised shares of Carbonite from a “hold” rating to a “buy” rating and set a $27.00 price objective for the company in a research report on Thursday, July 25th. Craig Hallum downgraded shares of Carbonite from a “buy” rating to a “hold” rating and lowered their price objective for the company from $43.00 to $25.00 in a research report on Friday, July 26th. JMP Securities lowered 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, Jefferies Financial Group cut Carbonite from a “buy” rating to a “hold” rating and reduced their target price for the company from $29.00 to $17.00 in a research note on Monday, October 7th.

Several institutional investors have recently added to or reduced their stakes in the company. Ladenburg Thalmann Financial Services Inc. boosted its stake in shares of Carbonite by 8.0% during the 2nd quarter. Ladenburg Thalmann Financial Services Inc. now owns 10,272 shares of the technology company’s stock valued at $267,000 after buying an additional 763 shares during the last quarter. Campbell & CO Investment Adviser LLC boosted its stake in shares of Carbonite by 5.8% during the 2nd quarter. Campbell & CO Investment Adviser LLC now owns 20,825 shares of the technology company’s stock valued at $542,000 after buying an additional 1,136 shares during the last quarter. Swiss National Bank boosted its stake in shares of Carbonite by 2.0% during the 2nd quarter. Swiss National Bank now owns 61,000 shares of the technology company’s stock valued at $1,588,000 after buying an additional 1,200 shares during the last quarter. Connors Investor Services Inc. boosted its stake in shares of Carbonite by 1.4% during the 2nd quarter. Connors Investor Services Inc. now owns 91,519 shares of the technology company’s stock valued at $2,383,000 after buying an additional 1,242 shares during the last quarter. Finally, Mascoma Wealth Management LLC purchased a new position in shares of Carbonite during the 2nd quarter valued at approximately $44,000.

NASDAQ:CARB traded up $0.07 during trading hours on Monday, hitting $15.86. The stock had a trading volume of 433,430 shares, compared to its average volume of 627,585. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 2.49. Carbonite has a 1-year low of $11.86 and a 1-year high of $35.74. The business has a 50 day simple moving average of $14.87 and a two-hundred day simple moving average of $20.41. The company has a market cap of $552.26 million, a PE ratio of 12.69, a price-to-earnings-growth ratio of 0.54 and a beta of 0.74.

Carbonite (NASDAQ:CARB) last issued its quarterly earnings data on Thursday, July 25th. The technology company reported $0.45 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.36 by $0.09. Carbonite had a negative net margin of 2.22% and a positive return on equity of 20.11%. The company had revenue of $121.51 million during the quarter, compared to the consensus estimate of $129.68 million. During the same quarter last year, the company earned $0.45 earnings per share. Carbonite’s revenue for the quarter was up 56.3% on a year-over-year basis. Research analysts expect that Carbonite will post 1.47 EPS for the current fiscal year.

About Carbonite

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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Analyst Recommendations for Carbonite (NASDAQ:CARB)

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