BidaskClub cut shares of Carbonite (NASDAQ:CARB) from a buy rating to a hold rating in a research report sent to investors on Tuesday, September 18th.

A number of other research firms also recently weighed in on CARB. Barclays lifted their target price on Carbonite from $38.00 to $41.00 and gave the stock an equal weight rating in a research report on Tuesday, July 24th. ValuEngine downgraded Carbonite from a strong-buy rating to a buy rating in a research report on Monday, July 2nd. TheStreet raised Carbonite from a d+ rating to a c rating in a research report on Friday, August 3rd. MED raised their price target on shares of Carbonite from $35.00 to $40.00 and gave the stock an outperform rating in a research note on Friday, August 3rd. Finally, Stifel Nicolaus assumed coverage on shares of Carbonite in a research note on Monday, August 20th. They set a buy rating and a $44.00 price target for the company. One analyst has rated the stock with a sell rating, two have assigned a hold rating and eleven have given a buy rating to the company’s stock. Carbonite has an average rating of Buy and a consensus target price of $39.33.

Carbonite stock traded up $1.01 during mid-day trading on Tuesday, hitting $33.70. 552,045 shares of the company’s stock were exchanged, compared to its average volume of 405,277. The company has a debt-to-equity ratio of 2.85, a current ratio of 0.73 and a quick ratio of 0.73. The company has a market capitalization of $1.20 billion, a price-to-earnings ratio of 67.40, a PEG ratio of 0.85 and a beta of 0.55. Carbonite has a 1-year low of $20.50 and a 1-year high of $43.63.

Carbonite (NASDAQ:CARB) last issued its quarterly earnings results on Thursday, August 2nd. The technology company reported $0.45 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.30 by $0.15. The company had revenue of $77.70 million for the quarter, compared to the consensus estimate of $78.89 million. Carbonite had a return on equity of 46.67% and a net margin of 0.39%. The firm’s revenue was up 31.7% compared to the same quarter last year. During the same period last year, the business posted $0.15 earnings per share. As a group, sell-side analysts anticipate that Carbonite will post 1.05 earnings per share for the current year.

In other Carbonite news, CFO Anthony Folger sold 2,898 shares of Carbonite stock in a transaction on Friday, July 27th. The shares were sold at an average price of $36.20, for a total transaction of $104,907.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Norman Guadagno sold 1,280 shares of Carbonite stock in a transaction on Friday, July 27th. The stock was sold at an average price of $36.20, for a total transaction of $46,336.00. The disclosure for this sale can be found here. Insiders sold a total of 748,442 shares of company stock valued at $28,188,408 in the last 90 days. 9.80% of the stock is currently owned by corporate insiders.

Several hedge funds have recently made changes to their positions in CARB. Mackay Shields LLC acquired a new position in shares of Carbonite in the 1st quarter valued at $1,428,000. Prudential Financial Inc. bought a new stake in Carbonite in the 1st quarter valued at $1,159,000. Swiss National Bank lifted its position in Carbonite by 6.3% in the 1st quarter. Swiss National Bank now owns 38,700 shares of the technology company’s stock valued at $1,115,000 after acquiring an additional 2,300 shares in the last quarter. BlackRock Inc. lifted its position in Carbonite by 0.9% in the 1st quarter. BlackRock Inc. now owns 1,640,916 shares of the technology company’s stock valued at $47,259,000 after acquiring an additional 14,404 shares in the last quarter. Finally, Scout Investments Inc. lifted its position in Carbonite by 9.5% in the 1st quarter. Scout Investments Inc. now owns 194,475 shares of the technology company’s stock valued at $5,601,000 after acquiring an additional 16,900 shares in the last quarter. 84.37% of the stock is owned by institutional investors.

Carbonite Company Profile

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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Analyst Recommendations for Carbonite (NASDAQ:CARB)

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