TheStreet downgraded shares of Carbonite (NASDAQ:CARB) from a c+ rating to a d rating in a research report sent to investors on Tuesday.

Other equities research analysts also recently issued reports about the stock. Lake Street Capital restated a buy rating and set a $27.00 price objective (up from $25.00) on shares of Carbonite in a research report on Wednesday. B. Riley raised their price objective on shares of Carbonite from $30.00 to $37.00 and gave the stock a buy rating in a research report on Wednesday. JMP Securities assumed coverage on shares of Carbonite in a research report on Tuesday, October 17th. They set an outperform rating and a $30.00 price objective for the company. Finally, BidaskClub downgraded shares of Carbonite from a hold rating to a sell rating in a research report on Tuesday. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and six have given a buy rating to the company. The company currently has a consensus rating of Buy and an average price target of $29.86.

Shares of Carbonite (NASDAQ:CARB) opened at $26.52 on Tuesday. Carbonite has a one year low of $18.20 and a one year high of $27.00. The stock has a market cap of $606.46, a PE ratio of -176.79, a P/E/G ratio of 1.74 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 issued its earnings results on Tuesday, February 13th. The technology company reported $0.30 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.29 by $0.01. The business had revenue of $61.69 million during the quarter, compared to the consensus estimate of $63.72 million. Carbonite had a negative net margin of 1.67% and a positive return on equity of 42.21%. equities analysts predict that Carbonite will post 0.5 earnings per share for the current fiscal year.

In other news, SVP Norman Guadagno sold 1,134 shares of the firm’s stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $23.70, for a total transaction of $26,875.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Anthony Folger sold 7,992 shares of the firm’s stock in a transaction that occurred on Monday, December 4th. The stock was sold at an average price of $23.45, for a total transaction of $187,412.40. The disclosure for this sale can be found here. Insiders have sold 66,096 shares of company stock valued at $1,517,037 over the last 90 days. Company insiders own 12.20% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. increased its holdings in shares of Carbonite by 14.8% during the second quarter. Vanguard Group Inc. now owns 1,686,093 shares of the technology company’s stock worth $36,757,000 after purchasing an additional 217,337 shares during the period. BlackRock Inc. increased its holdings in shares of Carbonite by 2.2% during the fourth quarter. BlackRock Inc. now owns 1,626,512 shares of the technology company’s stock worth $40,826,000 after purchasing an additional 34,905 shares during the period. ArrowMark Colorado Holdings LLC increased its holdings in shares of Carbonite by 22.0% during the fourth quarter. ArrowMark Colorado Holdings LLC now owns 1,467,017 shares of the technology company’s stock worth $36,822,000 after purchasing an additional 264,382 shares during the period. Pembroke Management LTD increased its holdings in shares of Carbonite by 0.4% during the fourth quarter. Pembroke Management LTD now owns 1,250,153 shares of the technology company’s stock worth $31,378,000 after purchasing an additional 4,400 shares during the period. Finally, Dimensional Fund Advisors LP increased its holdings in shares of Carbonite by 4.4% during the third quarter. Dimensional Fund Advisors LP now owns 1,103,160 shares of the technology company’s stock worth $24,270,000 after purchasing an additional 46,260 shares during the period. 92.56% of the stock is currently owned by institutional investors.

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About Carbonite

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.

Analyst Recommendations for Carbonite (NASDAQ:CARB)

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