Wall Street analysts forecast that Carbonite Inc (NASDAQ:CARB) will report $131.56 million in sales for the current fiscal quarter, according to Zacks. Six analysts have made estimates for Carbonite’s earnings, with the highest sales estimate coming in at $132.11 million and the lowest estimate coming in at $131.00 million. Carbonite posted sales of $79.11 million during the same quarter last year, which would indicate a positive year over year growth rate of 66.3%. The business is scheduled to announce its next quarterly 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 financial year, analysts expect that the business will post sales of $533.06 million, with estimates ranging from $510.90 million to $549.80 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research firms that that provide coverage for Carbonite.

Carbonite (NASDAQ:CARB) last announced its quarterly earnings data on Thursday, July 25th. The technology company reported $0.45 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate 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 for the quarter, compared to analyst estimates of $129.68 million. During the same period in the prior year, the business posted $0.45 earnings per share. 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. Northland Securities reissued a “buy” rating and issued a $30.00 price target on shares of Carbonite in a research note on Thursday, September 5th. B. Riley set a $35.00 price objective on Carbonite and gave the stock a “buy” rating in a research note on Friday, July 26th. ValuEngine downgraded Carbonite from a “sell” rating to a “strong sell” rating in a report on Saturday, July 27th. Craig Hallum lowered Carbonite from a “buy” rating to a “hold” rating and cut their target price for the company from $43.00 to $25.00 in a research note on Friday, July 26th. Finally, Stifel Nicolaus set a $18.00 target price on Carbonite and gave the stock a “hold” rating in a report on Friday, July 26th. Three research analysts have rated the stock with a sell rating, six have issued a hold rating and seven have assigned a buy rating to the company’s stock. Carbonite presently has a consensus rating of “Hold” and an average target price of $28.73.

In related news, CEO Mohamad Ali sold 7,199 shares of the business’s stock in a transaction on Monday, June 17th. The shares were sold at an average price of $13.31, for a total value of $95,818.69. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Anthony Folger sold 7,891 shares of the company’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $25.84, for a total transaction of $203,903.44. The disclosure for this sale can be found here. Insiders sold a total of 18,516 shares of company stock valued at $375,188 over the last quarter. 8.00% of the stock is owned by insiders.

Several hedge funds have recently bought and sold shares of CARB. BlackRock Inc. boosted its position in Carbonite by 7.8% during the 2nd quarter. BlackRock Inc. now owns 2,431,549 shares of the technology company’s stock worth $63,318,000 after acquiring an additional 176,429 shares during the last quarter. ETF Managers Group LLC boosted its holdings in Carbonite by 12.6% during the first quarter. ETF Managers Group LLC now owns 2,187,396 shares of the technology company’s stock worth $54,269,000 after purchasing an additional 244,871 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in Carbonite by 3.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,180,532 shares of the technology company’s stock worth $29,820,000 after purchasing an additional 41,811 shares during the last quarter. Summit Creek Advisors LLC grew its position in Carbonite by 11.7% in the second quarter. Summit Creek Advisors LLC now owns 582,623 shares of the technology company’s stock valued at $15,172,000 after purchasing an additional 61,220 shares in the last quarter. Finally, Bernzott Capital Advisors bought a new position in Carbonite in the second quarter valued at $14,798,000.

Shares of Carbonite stock traded up $0.88 on Friday, hitting $15.70. 1,261,156 shares of the company’s stock traded hands, compared to its average volume of 636,120. The firm’s 50-day moving average price is $15.46 and its two-hundred day moving average price is $22.19. The stock has a market capitalization 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.

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, 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.

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Earnings History and Estimates for Carbonite (NASDAQ:CARB)

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