Carbonite (NASDAQ:CARB) posted its quarterly earnings results on Thursday. The technology company reported $0.45 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.29 by $0.16, Bloomberg Earnings reports. Carbonite had a return on equity of 29.57% and a net margin of 2.54%. The firm had revenue of $77.00 million during the quarter, compared to analysts’ expectations of $79.53 million. During the same quarter in the previous year, the business earned $0.30 earnings per share. The company’s revenue was up 24.8% on a year-over-year basis. Carbonite updated its Q1 2019 guidance to EPS and its FY 2019 guidance to EPS.
Carbonite stock opened at $23.85 on Friday. The firm has a market cap of $1.01 billion, a P/E ratio of 19.08, a PEG ratio of 1.19 and a beta of 0.78. Carbonite has a one year low of $20.50 and a one year high of $43.63.
In related news, SVP Norman Guadagno sold 3,750 shares of the company’s stock in a transaction on Tuesday, February 5th. The stock was sold at an average price of $28.93, for a total transaction of $108,487.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Mohamad Ali sold 13,888 shares of the company’s stock in a transaction on Friday, December 14th. The shares were sold at an average price of $26.50, for a total value of $368,032.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 72,255 shares of company stock valued at $1,981,736. 9.80% of the stock is owned by company insiders.
Several research firms have recently weighed in on CARB. BidaskClub upgraded Carbonite from a “sell” rating to a “hold” rating in a research note on Wednesday, October 17th. Oppenheimer restated a “market perform” rating on shares of Carbonite in a research note on Friday, November 2nd. cut Carbonite from an “outperform” rating to a “market perform” rating in a research note on Friday, November 2nd. Jefferies Financial Group began coverage on Carbonite in a research note on Friday, October 12th. They issued a “buy” rating and a $45.00 price target for the company. Finally, Zacks Investment Research upgraded Carbonite from a “hold” rating to a “strong-buy” rating and set a $33.00 price target for the company in a research note on Tuesday, November 6th. Six research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $36.50.
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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