BidaskClub upgraded shares of Carbonite (NASDAQ:CARB) from a buy rating to a strong-buy rating in a report issued on Thursday morning, BidAskClub reports.

Several other brokerages have also issued reports on CARB. TheStreet lowered shares of Carbonite from a c- rating to a d+ rating in a research report on Thursday, August 29th. William Blair reiterated a market perform rating on shares of Carbonite in a research report on Monday, November 11th. Northland Securities lowered shares of Carbonite from an outperform rating to a market perform rating and cut their target price for the stock from $30.00 to $23.00 in a research report on Tuesday, November 12th. Craig Hallum lowered shares of Carbonite from a buy rating to a hold rating and cut their target price for the stock from $43.00 to $25.00 in a research report on Friday, July 26th. Finally, Lake Street Capital lowered shares of Carbonite from a buy rating to a hold rating in a research report on Monday, November 11th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of Hold and a consensus target price of $23.82.

Shares of CARB traded up $0.03 during mid-day trading on Thursday, reaching $22.98. 1,168,300 shares of the stock traded hands, compared to its average volume of 767,157. The firm has a fifty day moving average price of $17.09 and a 200 day moving average price of $19.59. The company has a market cap of $807.23 million, a price-to-earnings ratio of 18.38, a price-to-earnings-growth ratio of 0.79 and a beta of 0.75. The company has a current ratio of 0.68, a quick ratio of 0.64 and a debt-to-equity ratio of 2.58. Carbonite has a 1 year low of $11.86 and a 1 year high of $29.77.

Carbonite (NASDAQ:CARB) last released its quarterly earnings results on Tuesday, November 12th. The technology company reported $0.60 EPS for the quarter, beating analysts’ consensus estimates of $0.35 by $0.25. The firm had revenue of $125.80 million during the quarter, compared to analyst estimates of $125.76 million. Carbonite had a negative net margin of 5.55% and a positive return on equity of 22.46%. The business’s revenue for the quarter was up 61.9% on a year-over-year basis. During the same period in the previous year, the business earned $0.48 EPS. On average, sell-side analysts anticipate that Carbonite will post 1.44 EPS for the current year.

Large investors have recently made changes to their positions in the stock. Bernzott Capital Advisors bought a new stake in Carbonite in the second quarter worth $14,798,000. Dudley & Shanley Inc. bought a new stake in Carbonite in the second quarter worth $13,777,000. Prospect Capital Advisors LLC bought a new stake in Carbonite in the second quarter worth $12,653,000. Smith Graham & Co. Investment Advisors LP lifted its stake in Carbonite by 161.0% in the third quarter. Smith Graham & Co. Investment Advisors LP now owns 568,406 shares of the technology company’s stock worth $8,805,000 after purchasing an additional 350,598 shares during the last quarter. Finally, Congress Asset Management Co. MA bought a new stake in Carbonite in the third quarter worth $4,024,000.

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.

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Analyst Recommendations for Carbonite (NASDAQ:CARB)

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