Somewhat Positive Media Coverage Somewhat Unlikely to Affect Carbonite (CARB) Share Price
News coverage about Carbonite (NASDAQ:CARB) has trended somewhat positive on Thursday, Accern reports. Accern rates the sentiment of press coverage by monitoring more than 20 million news and blog sources in real time. Accern ranks coverage of companies on a scale of -1 to 1, with scores nearest to one being the most favorable. Carbonite earned a coverage optimism score of 0.13 on Accern’s scale. Accern also assigned press coverage about the technology company an impact score of 44.6669034748378 out of 100, meaning that recent press coverage is somewhat unlikely to have an impact on the company’s share price in the next several days.
Shares of Carbonite (NASDAQ:CARB) traded up 0.635% during mid-day trading on Thursday, reaching $19.825. The company’s stock had a trading volume of 116,840 shares. The firm has a 50 day moving average price of $21.70 and a 200 day moving average price of $20.66. The firm has a market cap of $551.12 million, a price-to-earnings ratio of 944.048 and a beta of 0.13. Carbonite has a 52-week low of $13.43 and a 52-week high of $24.60.
Carbonite (NASDAQ:CARB) last announced its quarterly earnings data on Thursday, August 3rd. The technology company reported $0.15 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.12 by $0.03. The firm had revenue of $59 million during the quarter, compared to analysts’ expectations of $59.97 million. Carbonite had a return on equity of 36.43% and a net margin of 0.29%. The company’s quarterly revenue was up 10.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.19 EPS. On average, equities analysts predict that Carbonite will post $0.76 EPS for the current fiscal year.
A number of analysts have recently issued reports on CARB shares. BidaskClub upgraded Carbonite from a “sell” rating to a “hold” rating in a research report on Wednesday, July 12th. Barclays PLC started coverage on Carbonite in a research report on Monday, June 26th. They set an “equal weight” rating and a $26.00 price objective on the stock. TheStreet upgraded Carbonite from a “d+” rating to a “c+” rating in a research report on Friday, August 4th. Finally, B. Riley restated a “buy” rating and set a $26.00 price objective on shares of Carbonite in a research report on Monday, August 7th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $24.43.
In other news, insider Cassandra Hudson sold 2,018 shares of Carbonite stock in a transaction on Tuesday, June 13th. The stock was sold at an average price of $21.27, for a total value of $42,922.86. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Anthony Folger sold 23,355 shares of Carbonite stock in a transaction on Thursday, June 8th. The shares were sold at an average price of $19.70, for a total value of $460,093.50. The disclosure for this sale can be found here. In the last quarter, insiders sold 53,110 shares of company stock worth $1,099,074. Corporate insiders own 12.20% of the company’s stock.
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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