Wall Street analysts expect Carbonite Inc (NASDAQ:CARB) to report sales of $135.31 million for the current quarter, according to Zacks. Six analysts have issued estimates for Carbonite’s earnings, with estimates ranging from $134.80 million to $136.45 million. Carbonite posted sales of $77.73 million during the same quarter last year, which suggests a positive year over year growth rate of 74.1%. The company is expected to announce its next earnings report on Thursday, August 1st.

On average, analysts expect that Carbonite will report full year sales of $497.46 million for the current fiscal year, with estimates ranging from $495.60 million to $499.27 million. For the next fiscal year, analysts anticipate that the company will post sales of $584.77 million, with estimates ranging from $560.00 million to $601.80 million. Zacks’ sales averages are an average based on a survey of sell-side analysts that cover Carbonite.

Carbonite (NASDAQ:CARB) last posted its quarterly earnings results on Thursday, May 2nd. The technology company reported $0.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.26 by $0.18. The company had revenue of $81.20 million during the quarter, compared to analyst estimates of $77.36 million. Carbonite had a negative net margin of 0.76% and a positive return on equity of 21.93%. Carbonite’s revenue for the quarter was up 26.9% compared to the same quarter last year. During the same period last year, the firm posted $0.27 EPS.

Several equities analysts have recently weighed in on the stock. BidaskClub lowered shares of Carbonite from a “buy” rating to a “hold” rating in a report on Saturday, June 1st. Craig Hallum set a $43.00 target price on shares of Carbonite and gave the company a “buy” rating in a report on Friday, May 3rd. B. Riley set a $42.00 target price on shares of Carbonite and gave the company a “buy” rating in a report on Friday, May 3rd. Zacks Investment Research lowered shares of Carbonite from a “strong-buy” rating to a “hold” rating in a report on Wednesday, April 10th. Finally, Barclays started coverage on shares of Carbonite in a report on Thursday, March 28th. They set an “overweight” rating and a $30.00 target price for the company. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and seven have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $37.83.

Shares of NASDAQ:CARB traded down $0.26 during trading on Friday, hitting $22.85. 20,279 shares of the stock traded hands, compared to its average volume of 534,100. The company has a debt-to-equity ratio of 2.65, a current ratio of 0.88 and a quick ratio of 0.88. The firm has a market cap of $795.21 million, a price-to-earnings ratio of 18.31, a price-to-earnings-growth ratio of 0.79 and a beta of 0.68. Carbonite has a 52-week low of $21.83 and a 52-week high of $43.63.

In other Carbonite news, CEO Mohamad Ali sold 4,000 shares of Carbonite stock in a transaction on Monday, March 18th. The shares were sold at an average price of $24.46, for a total transaction of $97,840.00. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Anthony Folger sold 32,315 shares of Carbonite stock in a transaction on Tuesday, June 4th. The stock was sold at an average price of $22.85, for a total transaction of $738,397.75. The disclosure for this sale can be found here. Insiders sold a total of 49,556 shares of company stock worth $1,154,424 in the last three months. 8.00% of the stock is owned by corporate insiders.

Institutional investors and hedge funds have recently made changes to their positions in the business. Marshall Wace North America L.P. purchased a new stake in Carbonite in the 1st quarter valued at about $2,191,000. Nordea Investment Management AB raised its holdings in Carbonite by 18.9% in the 1st quarter. Nordea Investment Management AB now owns 168,213 shares of the technology company’s stock valued at $4,173,000 after buying an additional 26,754 shares during the period. Maverick Capital Ltd. purchased a new stake in Carbonite in the 1st quarter valued at about $6,863,000. Ladenburg Thalmann Financial Services Inc. raised its holdings in Carbonite by 584.6% in the 1st quarter. Ladenburg Thalmann Financial Services Inc. now owns 9,509 shares of the technology company’s stock valued at $236,000 after buying an additional 8,120 shares during the period. Finally, Morgan Stanley raised its holdings in Carbonite by 33.1% in the 1st quarter. Morgan Stanley now owns 389,251 shares of the technology company’s stock valued at $9,658,000 after buying an additional 96,851 shares during the period.

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, 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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Earnings History and Estimates for Carbonite (NASDAQ:CARB)

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