Carbonite (CARB) Receiving Somewhat Positive News Coverage, Report Finds
News stories about Carbonite (NASDAQ:CARB) have trended somewhat positive recently, according to Accern. The research firm scores the sentiment of media coverage by monitoring more than twenty million blog and news sources in real time. Accern ranks coverage of public companies on a scale of -1 to 1, with scores closest to one being the most favorable. Carbonite earned a news sentiment score of 0.13 on Accern’s scale. Accern also gave media headlines about the technology company an impact score of 44.7087805301028 out of 100, meaning that recent media coverage is somewhat unlikely to have an impact on the company’s share price in the immediate future.
These are some of the media headlines that may have impacted Accern Sentiment Analysis’s scoring:
- Code42 to Focus Exclusively on Its Rapidly Growing Business in the Enterprise and Small Business Markets (advfn.com)
- BRIEF-Carbonite deal to provide transition from CrashPlan for Home division of Code42 software (reuters.com)
- Carbonite (CARB) Announces Strategic Referral Deal with Code42’s Home Division, CrashPlan (streetinsider.com)
- Carbonite Offers Transition Plan for Code42’s CrashPlan Customers (channelpartnersonline.com)
- Carbonite, Inc. (CARB) Downgraded by BidaskClub to Sell (americanbankingnews.com)
Carbonite (NASDAQ:CARB) traded up 0.394% during midday trading on Friday, reaching $19.125. 62,361 shares of the company were exchanged. The firm’s 50 day moving average price is $21.75 and its 200-day moving average price is $20.67. The stock has a market capitalization of $531.66 million, a P/E ratio of 910.714 and a beta of 0.13. Carbonite has a 52 week low of $13.43 and a 52 week high of $24.60.
Carbonite (NASDAQ:CARB) last issued its quarterly earnings results on Thursday, August 3rd. The technology company reported $0.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.12 by $0.03. Carbonite had a return on equity of 36.43% and a net margin of 0.29%. The firm had revenue of $59 million for the quarter, compared to analyst estimates of $59.97 million. During the same period last year, the company earned $0.19 EPS. The firm’s quarterly revenue was up 10.5% on a year-over-year basis. Equities analysts forecast that Carbonite will post $0.76 EPS for the current fiscal year.
A number of analysts have commented on CARB shares. BidaskClub cut shares of Carbonite from a “hold” rating to a “sell” rating in a report on Tuesday. Barclays PLC started coverage on shares of Carbonite in a research report on Monday, June 26th. They issued an “equal weight” rating and a $26.00 price target for the company. TheStreet upgraded shares of Carbonite from a “d+” rating to a “c+” rating in a research report on Friday, August 4th. Finally, B. Riley reiterated a “buy” rating and issued a $26.00 price target on shares of Carbonite in a research report on Monday, August 7th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. Carbonite currently has an average rating of “Buy” and a consensus target price of $24.43.
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In other news, VP Danielle Sheer sold 4,810 shares of Carbonite stock in a transaction dated Monday, August 7th. The stock was sold at an average price of $21.65, for a total value of $104,136.50. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider Cassandra Hudson sold 2,018 shares of Carbonite stock in a transaction dated Tuesday, June 13th. The shares were sold at an average price of $21.27, for a total value of $42,922.86. The disclosure for this sale can be found here. Insiders sold a total of 52,071 shares of company stock worth $1,079,593 over the last ninety days. Corporate insiders own 12.20% of the company’s stock.
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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