Somewhat Positive Media Coverage Somewhat Unlikely to Impact Carbonite (CARB) Stock Price
Media stories about Carbonite (NASDAQ:CARB) have been trending somewhat positive recently, Accern reports. Accern ranks the sentiment of media coverage by monitoring more than 20 million blog and news sources. Accern ranks coverage of public companies on a scale of negative one to one, with scores nearest to one being the most favorable. Carbonite earned a media sentiment score of 0.17 on Accern’s scale. Accern also assigned headlines about the technology company an impact score of 46.5158879558924 out of 100, indicating that recent media coverage is somewhat unlikely to have an impact on the stock’s share price in the near future.
Several research firms have weighed in on CARB. B. Riley restated a “buy” rating and issued a $26.00 price target on shares of Carbonite in a research note on Wednesday, August 2nd. Oppenheimer Holdings, Inc. restated a “buy” rating and issued a $30.00 price target on shares of Carbonite in a research note on Thursday, September 21st. Barclays PLC restated an “equal weight” rating and issued a $27.00 price target (up from $26.00) on shares of Carbonite in a research note on Friday, August 4th. JMP Securities began coverage on Carbonite in a research note on Tuesday, October 17th. They issued an “outperform” rating and a $30.00 price target for the company. Finally, TheStreet raised Carbonite from a “d+” rating to a “c+” rating in a report on Friday, August 4th. One analyst has rated the stock with a sell rating, one has issued a hold rating and six have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $27.71.
Carbonite (NASDAQ:CARB) traded up $0.25 during trading hours on Friday, reaching $23.25. The company had a trading volume of 471,416 shares, compared to its average volume of 287,162. Carbonite has a one year low of $15.04 and a one year high of $27.00. The stock has a market cap of $649.77, a price-to-earnings ratio of 93.33, a PEG ratio of 2.31 and a beta of 0.33. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 3.12.
Carbonite (NASDAQ:CARB) last released its quarterly earnings results on Thursday, November 2nd. The technology company reported $0.25 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.21 by $0.04. Carbonite had a positive return on equity of 32.85% and a negative net margin of 1.32%. The company had revenue of $61.60 million for the quarter, compared to analyst estimates of $61.49 million. During the same quarter in the prior year, the firm posted $0.14 EPS. Carbonite’s quarterly revenue was up 18.7% compared to the same quarter last year. analysts anticipate that Carbonite will post 0.39 earnings per share for the current fiscal year.
In other Carbonite news, General Counsel Danielle Sheer sold 4,807 shares of the stock in a transaction on Wednesday, November 8th. The stock was sold at an average price of $22.31, for a total value of $107,244.17. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Paul S. Mellinger sold 7,500 shares of the stock in a transaction on Thursday, November 9th. The stock was sold at an average price of $22.10, for a total value of $165,750.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 28,937 shares of company stock worth $626,011. Insiders own 12.20% of the company’s stock.
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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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