Oppenheimer Holdings Inc. upgraded shares of Carbonite Inc. (NASDAQ:CARB) from a market perform rating to an outperform rating in a report released on Tuesday morning. Oppenheimer Holdings Inc. currently has $21.00 price target on the stock.
A number of other equities analysts have also recently issued reports on the company. Zacks Investment Research cut Carbonite from a strong-buy rating to a hold rating in a report on Tuesday, October 4th. B. Riley reissued a buy rating and set a $17.00 price objective on shares of Carbonite in a research report on Wednesday, September 28th.
Carbonite (NASDAQ:CARB) opened at 16.10 on Tuesday. The stock has a 50 day moving average price of $14.66 and a 200-day moving average price of $11.00. Carbonite has a 12-month low of $6.50 and a 12-month high of $16.27. The stock’s market capitalization is $435.34 million.
Carbonite (NASDAQ:CARB) last issued its earnings results on Tuesday, August 2nd. The company reported $0.19 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.03 by $0.16. The business had revenue of $53.40 million for the quarter, compared to analysts’ expectations of $44.19 million. Carbonite had a negative return on equity of 453.55% and a negative net margin of 7.36%. The company’s quarterly revenue was up 57.2% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.01) EPS. Equities research analysts expect that Carbonite will post $0.50 EPS for the current year.
In other Carbonite news, insider Cassandra Hudson sold 13,158 shares of the company’s stock in a transaction on Tuesday, August 2nd. The stock was sold at an average price of $12.62, for a total transaction of $166,053.96. Following the transaction, the insider now owns 42,378 shares of the company’s stock, valued at approximately $534,810.36. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Anthony Folger sold 6,000 shares of the company’s stock in a transaction on Wednesday, August 3rd. The stock was sold at an average price of $13.23, for a total value of $79,380.00. The disclosure for this sale can be found here. 15.80% of the stock is owned by insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Blair William & Co. IL increased its position in Carbonite by 5.0% in the second quarter. Blair William & Co. IL now owns 10,500 shares of the company’s stock worth $102,000 after buying an additional 500 shares during the period. Royal Bank of Canada purchased a new position in Carbonite during the second quarter worth about $102,000. Citadel Advisors LLC purchased a new position in Carbonite during the second quarter worth about $103,000. Glenmede Trust Co. NA purchased a new position in Carbonite during the second quarter worth about $109,000. Finally, Aberdeen Asset Management PLC UK purchased a new position in Carbonite during the second quarter worth about $117,000. 64.51% of the stock is currently owned by hedge funds and other institutional investors.
Carbonite Company Profile
Carbonite, Inc (Carbonite) is a provider of cloud and business continuity solutions. The Company’s solutions are designed to address the specific needs of small and medium sized businesses and individuals. It offers various solutions, such as Carbonite Personal, Carbonite Pro, Carbonite Server Backup and MailStore.
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