Investment Analysts’ Recent Ratings Changes for Carbonite (CARB)

A number of research firms have changed their ratings and price targets for Carbonite (NASDAQ: CARB):

  • 1/10/2019 – Carbonite was downgraded by analysts at Zacks Investment Research from a “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. “
  • 1/9/2019 – Carbonite was upgraded by analysts at Barclays PLC from an “equal weight” rating to an “overweight” rating. They now have a $38.00 price target on the stock.
  • 1/9/2019 – Carbonite was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $30.00 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. “
  • 12/21/2018 – Carbonite was upgraded by analysts at BidaskClub from a “hold” rating to a “buy” rating.
  • 11/12/2018 – Carbonite was downgraded by analysts at Zacks Investment Research from a “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. “

NASDAQ CARB traded up $0.17 during trading hours on Friday, hitting $28.60. 5,466 shares of the stock were exchanged, compared to its average volume of 382,970. The stock has a market capitalization of $981.10 million, a P/E ratio of 57.20, a P/E/G ratio of 1.15 and a beta of 0.81. Carbonite Inc has a 12-month low of $20.50 and a 12-month high of $43.63.

Carbonite (NASDAQ:CARB) last posted its quarterly earnings results on Thursday, November 1st. The technology company reported $0.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.41 by $0.07. The firm had revenue of $79.10 million during the quarter, compared to analysts’ expectations of $80.15 million. Carbonite had a net margin of 1.85% and a return on equity of 29.30%. The firm’s revenue for the quarter was up 25.4% on a year-over-year basis. During the same period in the prior year, the company posted $0.25 earnings per share. On average, equities research analysts predict that Carbonite Inc will post 1.13 earnings per share for the current year.

In other Carbonite news, SVP Paul S. Mellinger sold 2,528 shares of the stock in a transaction dated Monday, January 7th. The shares were sold at an average price of $26.00, for a total value of $65,728.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Mohamad Ali sold 3,999 shares of the stock in a transaction dated Wednesday, December 19th. The shares were sold at an average price of $25.55, for a total transaction of $102,174.45. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 81,619 shares of company stock valued at $2,445,521. 9.80% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently modified their holdings of the business. TIAA CREF Investment Management LLC increased its holdings in Carbonite by 3.1% in the third quarter. TIAA CREF Investment Management LLC now owns 60,161 shares of the technology company’s stock valued at $2,145,000 after buying an additional 1,789 shares in the last quarter. Legal & General Group Plc grew its position in shares of Carbonite by 17.8% in the third quarter. Legal & General Group Plc now owns 4,998 shares of the technology company’s stock valued at $178,000 after purchasing an additional 756 shares during the last quarter. Vanguard Group Inc grew its position in shares of Carbonite by 30.4% in the third quarter. Vanguard Group Inc now owns 1,866,217 shares of the technology company’s stock valued at $66,531,000 after purchasing an additional 435,554 shares during the last quarter. Vanguard Group Inc. grew its position in shares of Carbonite by 30.4% in the third quarter. Vanguard Group Inc. now owns 1,866,217 shares of the technology company’s stock valued at $66,531,000 after purchasing an additional 435,554 shares during the last quarter. Finally, Nordea Investment Management AB grew its position in shares of Carbonite by 46.2% in the third quarter. Nordea Investment Management AB now owns 119,897 shares of the technology company’s stock valued at $4,276,000 after purchasing an additional 37,862 shares during 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 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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