Shares of Carbonite Inc (NASDAQ:CARB) hit a new 52-week low during trading on Monday . The stock traded as low as $14.14 and last traded at $14.28, with a volume of 3620 shares. The stock had previously closed at $14.48.

Several analysts have commented on the stock. ValuEngine cut shares of Carbonite from a “sell” rating to a “strong sell” rating in a research note on Saturday, July 27th. Stifel Nicolaus set a $18.00 price target on shares of Carbonite and gave the stock a “hold” rating in a research note on Friday, July 26th. Craig Hallum cut shares of Carbonite from a “buy” rating to a “hold” rating and decreased their price target for the stock from $43.00 to $25.00 in a research note on Friday, July 26th. Barclays cut shares of Carbonite from an “overweight” rating to an “underweight” rating and decreased their price target for the stock from $32.00 to $20.00 in a research note on Friday, July 26th. Finally, Jefferies Financial Group decreased their price target on shares of Carbonite from $37.00 to $29.00 and set a “buy” rating on the stock in a research note on Friday, July 26th. They noted that the move was a valuation call. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have given a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $30.92.

The business’s fifty day moving average price is $21.40 and its two-hundred day moving average price is $23.74. The company has a debt-to-equity ratio of 2.49, a quick ratio of 0.64 and a current ratio of 0.64. The stock has a market capitalization of $527.98 million, a P/E ratio of 11.53, a P/E/G ratio of 0.52 and a beta of 0.63.

Carbonite (NASDAQ:CARB) last posted its earnings results on Thursday, July 25th. The technology company reported $0.45 earnings per share for the quarter, topping analysts’ consensus estimates of $0.36 by $0.09. The firm had revenue of $121.51 million for the quarter, compared to the consensus estimate of $129.68 million. Carbonite had a negative net margin of 2.22% and a positive return on equity of 20.11%. The business’s quarterly revenue was up 56.3% on a year-over-year basis. During the same period in the previous year, the firm posted $0.45 EPS. As a group, analysts forecast that Carbonite Inc will post 1.47 earnings per share for the current year.

In other Carbonite news, CEO Mohamad Ali sold 7,199 shares of the company’s stock in a transaction dated Monday, June 17th. The shares were sold at an average price of $13.31, for a total value of $95,818.69. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO Anthony Folger sold 1,612 shares of the company’s stock in a transaction dated Thursday, May 30th. The stock was sold at an average price of $23.65, for a total transaction of $38,123.80. The disclosure for this sale can be found here. Insiders have sold a total of 57,452 shares of company stock worth $1,269,573 over the last quarter. 8.00% of the stock is currently owned by insiders.

Hedge funds have recently modified their holdings of the business. Mascoma Wealth Management LLC bought a new position in Carbonite in the 2nd quarter worth about $44,000. Quantamental Technologies LLC grew its stake in Carbonite by 2,085.9% in the 1st quarter. Quantamental Technologies LLC now owns 2,951 shares of the technology company’s stock worth $73,000 after acquiring an additional 2,816 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. bought a new position in Carbonite in the 2nd quarter worth about $78,000. C M Bidwell & Associates Ltd. bought a new position in Carbonite in the 2nd quarter worth about $104,000. Finally, Legal & General Group Plc grew its stake in Carbonite by 13.7% in the 4th quarter. Legal & General Group Plc now owns 5,685 shares of the technology company’s stock worth $144,000 after acquiring an additional 687 shares in the last quarter.

Carbonite Company Profile (NASDAQ:CARB)

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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