B. Riley Analysts Give Carbonite (NASDAQ:CARB) a $35.00 Price Target
B. Riley set a $35.00 price objective on Carbonite (NASDAQ:CARB) in a report released on Tuesday morning, TipRanks reports. The brokerage currently has a buy rating on the technology company’s stock.
CARB has been the subject of several other research reports. ValuEngine cut Carbonite from a sell rating to a strong sell rating in a report on Saturday, July 27th. Stifel Nicolaus set a $18.00 price objective on Carbonite and gave the company a hold rating in a report on Friday, July 26th. BidaskClub raised Carbonite from a strong sell rating to a sell rating in a report on Friday, September 6th. Jefferies Financial Group reduced their price target on Carbonite from $37.00 to $29.00 and set a buy rating for the company in a report on Friday, July 26th. They noted that the move was a valuation call. Finally, Barclays cut Carbonite from an overweight rating to an underweight rating and reduced their price target for the stock from $32.00 to $20.00 in a report on Friday, July 26th. Three analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have issued a buy rating to the company’s stock. The stock currently has an average rating of Hold and a consensus price target of $28.73.
Shares of CARB stock traded down $0.02 on Tuesday, hitting $15.27. The company had a trading volume of 460 shares, compared to its average volume of 962,220. The firm has a market cap of $531.45 million, a P/E ratio of 12.20, a price-to-earnings-growth ratio of 0.53 and a beta of 0.71. The company has a 50-day moving average price of $15.28 and a 200-day moving average price of $22.16. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 2.49. Carbonite has a twelve month low of $11.86 and a twelve month high of $42.56.
In related news, CFO Anthony Folger sold 7,891 shares of the company’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $25.84, for a total value of $203,903.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Mohamad Ali sold 7,199 shares of the company’s stock in a transaction dated Monday, June 17th. The stock was sold at an average price of $13.31, for a total value of $95,818.69. The disclosure for this sale can be found here. Insiders sold a total of 18,516 shares of company stock valued at $375,188 in the last ninety days. 8.00% of the stock is currently owned by insiders.
A number of large investors have recently bought and sold shares of CARB. Dimensional Fund Advisors LP increased its stake in Carbonite by 3.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,180,532 shares of the technology company’s stock worth $29,820,000 after buying an additional 41,811 shares in the last quarter. IndexIQ Advisors LLC purchased a new position in Carbonite in the first quarter worth approximately $1,603,000. Moors & Cabot Inc. grew its position in Carbonite by 90.1% in the first quarter. Moors & Cabot Inc. now owns 15,400 shares of the technology company’s stock worth $372,000 after acquiring an additional 7,300 shares during the period. Cadence Capital Management LLC lifted its stake in Carbonite by 1.7% during the first quarter. Cadence Capital Management LLC now owns 114,220 shares of the technology company’s stock worth $2,834,000 after purchasing an additional 1,872 shares in the last quarter. Finally, Penn Capital Management Co. Inc. lifted its stake in Carbonite by 8.3% during the first quarter. Penn Capital Management Co. Inc. now owns 251,825 shares of the technology company’s stock worth $6,248,000 after purchasing an additional 19,295 shares in the last quarter.
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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