Carbonite Inc (NASDAQ:CARB) Expected to Announce Quarterly Sales of $131.56 Million

Share on StockTwits

Analysts expect that Carbonite Inc (NASDAQ:CARB) will post $131.56 million in sales for the current fiscal quarter, Zacks Investment Research reports. Six analysts have provided estimates for Carbonite’s earnings, with the lowest sales estimate coming in at $131.00 million and the highest estimate coming in at $132.11 million. Carbonite posted sales of $79.11 million in the same quarter last year, which suggests a positive year-over-year growth rate of 66.3%. The business is scheduled to issue its next earnings report on Thursday, November 7th.

On average, analysts expect that Carbonite will report full-year sales of $478.99 million for the current financial year, with estimates ranging from $477.70 million to $480.44 million. For the next financial year, analysts forecast that the company will report sales of $533.06 million, with estimates ranging from $510.90 million to $549.80 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that follow Carbonite.

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

CARB has been the topic of a number of analyst reports. BidaskClub upgraded Carbonite from a “strong sell” rating to a “sell” rating in a research note on Friday. Barclays lowered Carbonite from an “overweight” rating to an “underweight” rating and reduced their target price for the company from $32.00 to $20.00 in a report on Friday, July 26th. ValuEngine cut Carbonite from a “sell” rating to a “strong sell” rating in a research report on Saturday, July 27th. Lake Street Capital lowered their price target on shares of Carbonite from $39.00 to $29.00 and set a “buy” rating on the stock in a report on Friday, July 26th. Finally, B. Riley set a $35.00 price target on shares of Carbonite and gave the stock a “buy” rating in a report on Friday, July 26th. Three analysts have rated the stock with a sell rating, six have issued a hold rating and seven have issued a buy rating to the stock. Carbonite currently has an average rating of “Hold” and a consensus target price of $28.73.

In other Carbonite news, CFO Anthony Folger sold 7,891 shares of the firm’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 SEC, which is accessible through this hyperlink. Also, CEO Mohamad Ali sold 7,199 shares of the firm’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 disclosure for this sale can be found here. Over the last 90 days, insiders have sold 18,516 shares of company stock valued at $375,188. 8.00% of the stock is owned by company insiders.

Several hedge funds have recently bought and sold shares of CARB. Atria Investments LLC purchased a new stake in Carbonite in the second quarter valued at approximately $78,000. Prospect Capital Advisors LLC purchased a new stake in shares of Carbonite during the 2nd quarter valued at $12,653,000. Ladenburg Thalmann Financial Services Inc. raised its position in shares of Carbonite by 8.0% during the 2nd quarter. Ladenburg Thalmann Financial Services Inc. now owns 10,272 shares of the technology company’s stock valued at $267,000 after buying an additional 763 shares in the last quarter. United Services Automobile Association lifted its holdings in shares of Carbonite by 7.6% during the 2nd quarter. United Services Automobile Association now owns 66,898 shares of the technology company’s stock worth $1,742,000 after acquiring an additional 4,750 shares during the last quarter. Finally, Voloridge Investment Management LLC bought a new stake in shares of Carbonite during the 2nd quarter worth $224,000.

Shares of Carbonite stock traded up $0.88 during trading hours on Friday, reaching $15.70. The company had a trading volume of 1,261,156 shares, compared to its average volume of 636,120. The firm has a market cap of $523.12 million, a PE ratio of 12.56, a price-to-earnings-growth ratio of 0.51 and a beta of 0.72. Carbonite has a one year low of $11.86 and a one year high of $42.56. The company has a debt-to-equity ratio of 2.49, a current ratio of 0.64 and a quick ratio of 0.64. The business has a fifty day simple moving average of $15.46 and a 200 day simple moving average of $22.19.

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.

Read More: Outstanding Shares, Buying and Selling Stocks

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.