Analysts’ Weekly Ratings Updates for Carbonite (CARB)

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Several brokerages have updated their recommendations and price targets on shares of Carbonite (NASDAQ: CARB) in the last few weeks:

  • 2/15/2019 – Carbonite was downgraded by analysts at ValuEngine from a “hold” rating to a “sell” rating.
  • 2/14/2019 – Carbonite was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “strong-buy” rating. They now have a $29.00 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. “
  • 2/11/2019 – 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. “
  • 2/11/2019 – Carbonite had its “buy” rating reaffirmed by analysts at JMP Securities. They now have a $44.00 price target on the stock.
  • 2/8/2019 – Carbonite had its “neutral” rating reaffirmed by analysts at Rosenblatt Securities. They now have a $33.00 price target on the stock, down previously from $45.00.
  • 2/8/2019 – Carbonite was downgraded by analysts at Stifel Nicolaus from a “buy” rating to a “hold” rating. They now have a $25.00 price target on the stock, down previously from $44.00.
  • 2/8/2019 – Carbonite was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $33.00 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. “
  • 2/8/2019 – Carbonite had its price target lowered by analysts at Jefferies Financial Group Inc from $41.00 to $37.00. They now have a “buy” rating on the stock.
  • 2/8/2019 – Carbonite had its price target raised by analysts at Lake Street Capital to $39.00. They now have a “buy” rating on the stock.
  • 2/4/2019 – 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. “
  • 1/31/2019 – Carbonite was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $31.00 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. “
  • 1/24/2019 – Carbonite was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $31.00 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. “
  • 1/21/2019 – 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. “
  • 1/16/2019 – Carbonite was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $31.00 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. “
  • 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. “

Shares of Carbonite stock traded down $0.04 during trading hours on Thursday, reaching $23.27. 435,860 shares of the company’s stock were exchanged, compared to its average volume of 498,536. Carbonite Inc has a fifty-two week low of $22.35 and a fifty-two week high of $43.63. The company has a market cap of $799.33 million, a price-to-earnings ratio of 18.62, a P/E/G ratio of 0.91 and a beta of 0.78.

Carbonite (NASDAQ:CARB) last posted its quarterly earnings data on Thursday, February 7th. The technology company reported $0.45 EPS for the quarter, topping the Zacks’ consensus estimate of $0.29 by $0.16. Carbonite had a net margin of 2.54% and a return on equity of 29.57%. The company had revenue of $77.00 million during the quarter, compared to the consensus estimate of $79.53 million. During the same period in the prior year, the business posted $0.30 EPS. The company’s quarterly revenue was up 24.8% on a year-over-year basis. Analysts expect that Carbonite Inc will post 1.27 earnings per share for the current year.

In other news, SVP Norman Guadagno sold 1,800 shares of the stock in a transaction dated Monday, December 3rd. The shares were sold at an average price of $28.16, for a total transaction of $50,688.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Anthony Folger sold 2,224 shares of the stock in a transaction dated Wednesday, February 13th. The stock was sold at an average price of $25.57, for a total transaction of $56,867.68. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 99,883 shares of company stock valued at $2,643,949. Company insiders own 9.80% of the company’s stock.

Institutional investors have recently bought and sold shares of the company. Dimensional Fund Advisors LP boosted its stake in shares of Carbonite by 0.3% during the 3rd quarter. Dimensional Fund Advisors LP now owns 1,138,721 shares of the technology company’s stock worth $40,595,000 after buying an additional 2,980 shares during the last quarter. Diversified Trust Co acquired a new position in shares of Carbonite during the 4th quarter worth about $337,000. BlackRock Inc. boosted its stake in shares of Carbonite by 22.9% during the 3rd quarter. BlackRock Inc. now owns 2,237,267 shares of the technology company’s stock worth $79,759,000 after buying an additional 417,253 shares during the last quarter. Alambic Investment Management L.P. acquired a new position in shares of Carbonite during the 3rd quarter worth about $285,000. Finally, PNC Financial Services Group Inc. boosted its stake in shares of Carbonite by 51,742.8% during the 3rd quarter. PNC Financial Services Group Inc. now owns 451,551 shares of the technology company’s stock worth $16,097,000 after buying an additional 450,680 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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