BidaskClub upgraded shares of Carbonite (NASDAQ:CARB) from a hold rating to a buy rating in a research note published on Friday morning.
A number of other equities research analysts have also commented on CARB. B. Riley increased their price objective on shares of Carbonite from $30.00 to $37.00 and gave the stock a buy rating in a report on Wednesday, February 14th. Lake Street Capital restated a buy rating and set a $27.00 target price (up from $25.00) on shares of Carbonite in a research report on Wednesday, February 14th. Finally, TheStreet downgraded shares of Carbonite from a c+ rating to a d rating in a research report on Tuesday, February 13th. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. The stock has an average rating of Buy and an average price target of $29.86.
Shares of Carbonite (NASDAQ CARB) traded up $0.20 during trading hours on Friday, reaching $29.25. 119,717 shares of the company’s stock were exchanged, compared to its average volume of 387,318. Carbonite has a 12-month low of $18.20 and a 12-month high of $30.65. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 3.12. The company has a market cap of $823.09, a price-to-earnings ratio of -195.00, a P/E/G ratio of 0.73 and a beta of 0.22.
In other Carbonite news, General Counsel Danielle Sheer sold 2,321 shares of the firm’s stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $20.89, for a total transaction of $48,485.69. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Todd Krasnow sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, December 11th. The stock was sold at an average price of $23.16, for a total transaction of $231,600.00. Following the sale, the director now owns 227,230 shares in the company, valued at $5,262,646.80. The disclosure for this sale can be found here. Insiders have sold a total of 58,667 shares of company stock worth $1,351,448 over the last 90 days. Corporate insiders own 12.20% of the company’s stock.
A number of hedge funds have recently made changes to their positions in CARB. We Are One Seven LLC bought a new position in shares of Carbonite in the fourth quarter valued at $148,000. MetLife Investment Advisors LLC bought a new position in shares of Carbonite in the fourth quarter valued at $300,000. LPL Financial LLC bought a new position in shares of Carbonite in the fourth quarter valued at $653,000. Cramer Rosenthal Mcglynn LLC bought a new position in shares of Carbonite in the fourth quarter valued at $12,272,000. Finally, Stone Ridge Asset Management LLC bought a new position in shares of Carbonite in the fourth quarter valued at $336,000. Hedge funds and other institutional investors own 95.08% of the company’s stock.
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Carbonite Company Profile
Carbonite, Inc provides data protection solutions, including cloud, hybrid and on-premise backup and restore, disaster recovery as a service (DRaaS) and e-mail archiving. The Company’s solutions provide enterprise-grade data protection and recovery capabilities to its customers. The Company’s small and medium-sized businesses (SMBs) plans include Carbonite Computer Backup; Carbonite Server Backup, such as Carbonite Office Power and Carbonite Office Ultimate; EVault Cloud Backup; DRaaS, and e-mail archiving.
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