Carbonite (NASDAQ:CARB) Given Market Perform Rating at William Blair

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William Blair restated their market perform rating on shares of Carbonite (NASDAQ:CARB) in a report issued on Monday, The Fly reports.

A number of other research firms have also recently weighed in on CARB. Craig Hallum cut shares of Carbonite from a buy rating to a hold rating and reduced their price objective for the stock from $43.00 to $25.00 in a research report on Friday, July 26th. Stifel Nicolaus set a $18.00 price objective on shares of Carbonite and gave the stock a hold rating in a research report on Friday, July 26th. ValuEngine cut shares of Carbonite from a hold rating to a sell rating in a research report on Monday, November 4th. Jefferies Financial Group cut shares of Carbonite from a buy rating to a hold rating and reduced their price objective for the stock from $29.00 to $17.00 in a research report on Monday, October 7th. Finally, Northland Securities reiterated a buy rating and issued a $30.00 target price on shares of Carbonite in a research report on Thursday, September 5th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of Hold and an average target price of $23.82.

Shares of NASDAQ CARB opened at $23.06 on Monday. The company’s fifty day moving average price is $16.48 and its 200 day moving average price is $19.62. Carbonite has a 1 year low of $11.86 and a 1 year high of $29.77. The company has a market capitalization of $793.70 million, a PE ratio of 13.95, a price-to-earnings-growth ratio of 0.78 and a beta of 0.75. The company has a debt-to-equity ratio of 2.49, a quick ratio of 0.64 and a current ratio of 0.64.

Carbonite (NASDAQ:CARB) last announced its quarterly earnings results on Tuesday, November 12th. The technology company reported $0.60 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.35 by $0.25. Carbonite had a negative net margin of 5.55% and a positive return on equity of 22.16%. The firm had revenue of $125.80 million for the quarter, compared to the consensus estimate of $125.76 million. During the same period in the prior year, the firm posted $0.48 earnings per share. The firm’s quarterly revenue was up 61.9% compared to the same quarter last year. On average, equities analysts expect that Carbonite will post 1.47 EPS for the current year.

Several institutional investors have recently made changes to their positions in the company. Ladenburg Thalmann Financial Services Inc. increased its holdings in shares of Carbonite by 8.0% in the 2nd quarter. Ladenburg Thalmann Financial Services Inc. now owns 10,272 shares of the technology company’s stock valued at $267,000 after acquiring an additional 763 shares during the period. Campbell & CO Investment Adviser LLC increased its holdings in shares of Carbonite by 5.8% in the 2nd quarter. Campbell & CO Investment Adviser LLC now owns 20,825 shares of the technology company’s stock valued at $542,000 after acquiring an additional 1,136 shares during the period. Swiss National Bank increased its holdings in shares of Carbonite by 2.0% in the 2nd quarter. Swiss National Bank now owns 61,000 shares of the technology company’s stock valued at $1,588,000 after acquiring an additional 1,200 shares during the period. Connors Investor Services Inc. increased its holdings in shares of Carbonite by 1.4% in the 2nd quarter. Connors Investor Services Inc. now owns 91,519 shares of the technology company’s stock valued at $2,383,000 after acquiring an additional 1,242 shares during the period. Finally, Mascoma Wealth Management LLC acquired a new position in shares of Carbonite in the 2nd quarter valued at $44,000.

About Carbonite

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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Analyst Recommendations for Carbonite (NASDAQ:CARB)

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