Equities research analysts expect Carbonite Inc (NASDAQ:CARB) to report $131.56 million in sales for the current quarter, Zacks reports. Six analysts have provided estimates for Carbonite’s earnings. The lowest sales estimate is $131.00 million and the highest is $132.11 million. Carbonite posted sales of $79.11 million during the same quarter last year, which suggests a positive year over year growth rate of 66.3%. The firm is expected to report its next earnings results on Thursday, November 7th.

On average, analysts expect that Carbonite will report full-year sales of $478.99 million for the current fiscal year, with estimates ranging from $477.70 million to $480.44 million. For the next fiscal year, analysts forecast that the company will report sales of $531.54 million, with estimates ranging from $510.90 million to $542.45 million. Zacks’ sales averages are a mean average based on a survey of research firms that that provide coverage for Carbonite.

Carbonite (NASDAQ:CARB) last posted its quarterly earnings results on Thursday, July 25th. The technology company reported $0.45 earnings per share for the quarter, topping the consensus estimate of $0.36 by $0.09. The company had revenue of $121.51 million during the quarter, compared to the consensus estimate of $129.68 million. Carbonite had a positive return on equity of 20.11% and a negative net margin of 2.22%. The firm’s quarterly revenue was up 56.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.45 EPS.

A number of brokerages recently issued reports on CARB. ValuEngine raised Carbonite from a “sell” rating to a “hold” rating in a report on Wednesday, October 2nd. JMP Securities dropped their price objective on Carbonite to $28.00 and set an “outperform” rating on the stock in a report on Friday, July 26th. Jefferies Financial Group cut Carbonite from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $29.00 to $17.00 in a report on Monday, October 7th. Craig Hallum cut Carbonite from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $43.00 to $25.00 in a report on Friday, July 26th. Finally, B. Riley set a $35.00 price objective on Carbonite and gave the stock a “buy” rating in a report on Tuesday, September 10th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and five have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $25.80.

Institutional investors and hedge funds have recently modified their holdings of the stock. Ladenburg Thalmann Financial Services Inc. raised its holdings in shares of Carbonite by 8.0% in the 2nd quarter. Ladenburg Thalmann Financial Services Inc. now owns 10,272 shares of the technology company’s stock valued at $267,000 after acquiring an additional 763 shares in the last quarter. Campbell & CO Investment Adviser LLC raised its holdings in shares of Carbonite by 5.8% in the 2nd quarter. Campbell & CO Investment Adviser LLC now owns 20,825 shares of the technology company’s stock valued at $542,000 after acquiring an additional 1,136 shares in the last quarter. Swiss National Bank raised its holdings in shares of Carbonite by 2.0% in the 2nd quarter. Swiss National Bank now owns 61,000 shares of the technology company’s stock valued at $1,588,000 after acquiring an additional 1,200 shares in the last quarter. Connors Investor Services Inc. raised its holdings in shares of Carbonite by 1.4% in the 2nd quarter. Connors Investor Services Inc. now owns 91,519 shares of the technology company’s stock valued at $2,383,000 after acquiring an additional 1,242 shares in the last quarter. Finally, Mascoma Wealth Management LLC purchased a new stake in shares of Carbonite in the 2nd quarter valued at about $44,000.

CARB stock opened at $15.86 on Tuesday. The stock has a fifty day moving average of $14.87 and a 200-day moving average of $20.41. The company has a market capitalization of $552.26 million, a price-to-earnings ratio of 12.69, a PEG ratio of 0.54 and a beta of 0.74. The company has a debt-to-equity ratio of 2.49, a quick ratio of 0.64 and a current ratio of 0.64. Carbonite has a fifty-two week low of $11.86 and a fifty-two week high of $35.74.

About Carbonite

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.

Featured Story: Analyzing a company’s cash flow statement

Get a free copy of the Zacks research report on Carbonite (CARB)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Carbonite (NASDAQ:CARB)

Receive News & Ratings for Carbonite Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Carbonite and related companies with MarketBeat.com's FREE daily email newsletter.