Carbonite (CARB) PT Lowered to $37.00 at Jefferies Financial Group

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Carbonite (NASDAQ:CARB) had its price objective decreased by Jefferies Financial Group from $41.00 to $37.00 in a research report released on Friday morning, The Fly reports. Jefferies Financial Group currently has a buy rating on the technology company’s stock.

Several other research analysts have also commented on CARB. BidaskClub raised shares of Carbonite from a sell rating to a hold rating in a research note on Wednesday, October 17th. downgraded shares of Carbonite from an outperform rating to a market perform rating in a research note on Friday, November 2nd. Oppenheimer reiterated a market perform rating on shares of Carbonite in a research note on Friday, November 2nd. CIBC reiterated a market perform rating on shares of Carbonite in a research note on Friday, November 2nd. Finally, ValuEngine downgraded shares of Carbonite from a buy rating to a hold rating in a research note on Friday, November 2nd. Six research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. The stock currently has an average rating of Buy and a consensus target price of $36.50.

NASDAQ CARB opened at $23.85 on Friday. Carbonite has a one year low of $20.50 and a one year high of $43.63. The company has a market capitalization of $824.21 million, a PE ratio of 19.88, a price-to-earnings-growth ratio of 0.97 and a beta of 0.78.

Carbonite (NASDAQ:CARB) last posted its quarterly earnings data on Thursday, February 7th. The technology company reported $0.45 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.29 by $0.16. Carbonite had a net margin of 2.54% and a return on equity of 29.57%. The business had revenue of $77.00 million during the quarter, compared to analyst estimates of $79.53 million. During the same quarter last year, the firm posted $0.30 earnings per share. The business’s revenue for the quarter was up 24.8% compared to the same quarter last year. As a group, sell-side analysts expect that Carbonite will post 1.23 EPS for the current year.

In other news, General Counsel Danielle Sheer sold 1,394 shares of the business’s stock in a transaction that occurred on Monday, January 28th. The shares were sold at an average price of $27.65, for a total transaction of $38,544.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Anthony Folger sold 1,611 shares of the business’s stock in a transaction that occurred on Friday, November 30th. The stock was sold at an average price of $27.95, for a total transaction of $45,027.45. The disclosure for this sale can be found here. Insiders have sold a total of 72,255 shares of company stock valued at $1,981,736 in the last 90 days. Insiders own 9.80% of the company’s stock.

Several large investors have recently modified their holdings of CARB. Advisors Asset Management Inc. lifted its position in shares of Carbonite by 73.2% during the 4th quarter. Advisors Asset Management Inc. now owns 3,147 shares of the technology company’s stock worth $79,000 after buying an additional 1,330 shares during the last quarter. Legal & General Group Plc increased its holdings in shares of Carbonite by 17.8% in the 3rd quarter. Legal & General Group Plc now owns 4,998 shares of the technology company’s stock valued at $178,000 after acquiring an additional 756 shares during the period. Jane Street Group LLC increased its holdings in shares of Carbonite by 222.3% in the 3rd quarter. Jane Street Group LLC now owns 6,665 shares of the technology company’s stock valued at $238,000 after acquiring an additional 12,116 shares during the period. Raymond James & Associates acquired a new position in shares of Carbonite in the 2nd quarter valued at $267,000. Finally, Xact Kapitalforvaltning AB acquired a new position in shares of Carbonite in the 3rd quarter valued at $267,000.

Carbonite Company Profile

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 that offers annual and multi-year cloud backup plans for individuals or businesses; and Carbonite Endpoint Protection that protects the data, which resides on an organization's computers, laptops, tablets, and smartphones.

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