Carbonite, Inc. (NASDAQ:CARB) posted its earnings results on Thursday. The technology company reported $0.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.21 by $0.04, Bloomberg Earnings reports. Carbonite had a return on equity of 36.43% and a net margin of 0.29%. The business had revenue of $61.60 million during the quarter, compared to analyst estimates of $61.49 million. During the same quarter last year, the firm earned $0.14 earnings per share. The company’s revenue for the quarter was up 18.7% compared to the same quarter last year. Carbonite updated its Q4 guidance to $0.27-0.31 EPS.
A number of equities research analysts have recently issued reports on the company. B. Riley reiterated a “buy” rating and issued a $26.00 target price on shares of Carbonite in a research note on Wednesday, August 2nd. Oppenheimer Holdings, Inc. reiterated a “buy” rating and issued a $30.00 target price on shares of Carbonite in a research note on Thursday, September 21st. Barclays PLC reiterated an “equal weight” rating and issued a $27.00 target price (up previously from $26.00) on shares of Carbonite in a research note on Friday, August 4th. JMP Securities assumed coverage on Carbonite in a research note on Tuesday, October 17th. They issued an “outperform” rating and a $30.00 target price for the company. Finally, TheStreet upgraded Carbonite from a “d+” rating to a “c+” rating in a research note on Friday, August 4th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and six have assigned a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $27.71.
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In related news, SVP Norman Guadagno sold 2,489 shares of the business’s stock in a transaction dated Monday, August 7th. The stock was sold at an average price of $21.65, for a total transaction of $53,886.85. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, VP Danielle Sheer sold 4,810 shares of the business’s stock in a transaction dated Monday, August 7th. The shares were sold at an average price of $21.65, for a total value of $104,136.50. The disclosure for this sale can be found here. Insiders have sold 30,421 shares of company stock worth $641,877 over the last 90 days. Corporate insiders own 12.20% of the company’s stock.
Carbonite Company Profile
Carbonite, Inc provides data protection solutions, including cloud, hybrid and on-premise backup and restore, disaster recovery as a service (DRaaS) and e-mail archiving. The Company’s solutions provide enterprise-grade data protection and recovery capabilities to its customers. The Company’s small and medium-sized businesses (SMBs) plans include Carbonite Computer Backup; Carbonite Server Backup, such as Carbonite Office Power and Carbonite Office Ultimate; EVault Cloud Backup; DRaaS, and e-mail archiving.
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