Carbonite Inc (NASDAQ:CARB) shares reached a new 52-week high and low during mid-day trading on Friday . The company traded as low as $37.23 and last traded at $37.20, with a volume of 8859 shares changing hands. The stock had previously closed at $36.32.
A number of research firms recently issued reports on CARB. Zacks Investment Research downgraded shares of Carbonite from a “buy” rating to a “hold” rating in a research report on Friday, May 11th. B. Riley boosted their target price on shares of Carbonite to $37.00 and gave the company a “buy” rating in a research report on Tuesday, May 8th. Craig Hallum restated a “buy” rating and set a $30.00 target price on shares of Carbonite in a research report on Tuesday, May 8th. Lake Street Capital boosted their target price on shares of Carbonite from $27.00 to $34.00 and gave the company a “buy” rating in a research report on Tuesday, May 8th. Finally, Oppenheimer upped their price objective on shares of Carbonite from $30.00 to $35.00 and gave the stock an “outperform” rating in a research report on Tuesday, May 8th. Two investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $33.63.
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The stock has a market capitalization of $1.06 billion, a price-to-earnings ratio of 74.10, a PEG ratio of 0.90 and a beta of 0.17. The company has a debt-to-equity ratio of 3.02, a quick ratio of 0.73 and a current ratio of 0.73.
Carbonite (NASDAQ:CARB) last issued its quarterly earnings data on Monday, May 7th. The technology company reported $0.27 earnings per share for the quarter, topping analysts’ consensus estimates of $0.22 by $0.05. The business had revenue of $64.03 million during the quarter, compared to the consensus estimate of $63.51 million. Carbonite had a net margin of 0.14% and a return on equity of 35.49%. The company’s revenue was up 12.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.09 earnings per share. research analysts expect that Carbonite Inc will post 1.03 earnings per share for the current fiscal year.
In other news, CFO Anthony Folger sold 9,119 shares of the business’s stock in a transaction dated Monday, March 19th. The shares were sold at an average price of $30.64, for a total transaction of $279,406.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Norman Guadagno sold 13,834 shares of the business’s stock in a transaction dated Friday, March 16th. The stock was sold at an average price of $30.86, for a total transaction of $426,917.24. The disclosure for this sale can be found here. In the last quarter, insiders sold 42,925 shares of company stock valued at $1,238,711. Insiders own 9.80% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the company. Cramer Rosenthal Mcglynn LLC purchased a new stake in shares of Carbonite during the fourth quarter worth about $12,272,000. Schroder Investment Management Group increased its stake in shares of Carbonite by 145.6% during the fourth quarter. Schroder Investment Management Group now owns 630,811 shares of the technology company’s stock worth $15,833,000 after purchasing an additional 373,958 shares in the last quarter. Stone Ridge Asset Management LLC purchased a new stake in shares of Carbonite during the fourth quarter worth about $336,000. Pembroke Management LTD increased its stake in shares of Carbonite by 0.4% during the fourth quarter. Pembroke Management LTD now owns 1,250,153 shares of the technology company’s stock worth $31,378,000 after purchasing an additional 4,400 shares in the last quarter. Finally, We Are One Seven LLC purchased a new stake in shares of Carbonite during the fourth quarter worth about $148,000. 97.16% of the stock is owned by institutional investors and hedge funds.
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.