The stock of Carbonite Inc (NASDAQ:CARB) hit a new 52-week high and has $23.75 target or 45.00% above today’s $16.38 share price. The 9 months bullish chart indicates low risk for the $449.92M company. The 1-year high was reported on Oct, 19 by Barchart.com. If the $23.75 price target is reached, the company will be worth $202.46M more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 448,815 shares traded hands or 21.30% up from the average. Carbonite Inc (NASDAQ:CARB) has risen 107.88% since March 16, 2016 and is uptrending. It has outperformed by 102.34% the S&P500.
Analysts await Carbonite Inc (NASDAQ:CARB) to report earnings on October, 26. They expect $-0.02 earnings per share, up 87.50% or $0.14 from last year’s $-0.16 per share. After $0.12 actual earnings per share reported by Carbonite Inc for the previous quarter, Wall Street now forecasts -116.67% negative EPS growth.
Carbonite Inc (NASDAQ:CARB) Ratings Coverage
Out of 4 analysts covering Carbonite (NASDAQ:CARB), 2 rate it a “Buy”, 2 “Sell”, while 0 “Hold”. This means 50% are positive. Carbonite has been the topic of 4 analyst reports since September 21, 2015 according to StockzIntelligence Inc. The firm earned “Buy” rating on Friday, June 10 by B. Riley & Co. The firm earned “Outperform” rating on Tuesday, October 11 by Oppenheimer. The firm has “Sell” rating by Zacks given on Monday, September 21.
According to Zacks Investment Research, “Carbonite Inc. is a computer service company which provides online backup solutions for consumers and small and medium sized businesses to retrieve files if lost on the internet. The Company’s backup solutions work automatically and continuously uploading encrypted copies of its customer’s files to the servers known as Carbonite Personal Cloud. Carbonite Inc. is headquartered in Boston, Massachusetts.”
Insitutional Activity: The institutional sentiment increased to 2 in 2016 Q2. Its up 0.92, from 1.08 in 2016Q1. The ratio is positive, as 13 funds sold all Carbonite Inc shares owned while 18 reduced positions. 25 funds bought stakes while 37 increased positions. They now own 15.89 million shares or 5.13% more from 15.11 million shares in 2016Q1.
Federated Pa reported 123 shares or 0% of all its holdings. Renaissance Tech Llc has 1.42M shares for 0.03% of their US portfolio. Secor Cap Advsr Ltd Partnership has invested 0.07% of its portfolio in Carbonite Inc (NASDAQ:CARB). Tudor Invest Corp Et Al holds 0% of its portfolio in Carbonite Inc (NASDAQ:CARB) for 12,322 shares. Blackrock Mngmt Ltd Liability reported 68,551 shares or 0% of all its holdings. Panagora Asset Mngmt holds 316,634 shares or 0.02% of its portfolio. California State Teachers Retirement System has 0% invested in the company for 37,555 shares. Highbridge Capital Mgmt Ltd Limited Liability Company last reported 0% of its portfolio in the stock. Nokomis Cap Ltd Limited Liability Company holds 3.32% of its portfolio in Carbonite Inc (NASDAQ:CARB) for 1.61 million shares. Harbourvest Prtn Limited Liability Com holds 30,941 shares or 0.15% of its portfolio. Crosslink Cap has 3.65% invested in the company for 2.09 million shares. Bridgeway last reported 0.01% of its portfolio in the stock. Spark Invest Management Lc owns 168,700 shares or 0.15% of their US portfolio. Lyon Street Cap last reported 751,049 shares in the company. California Pub Employees Retirement holds 0% or 126,208 shares in its portfolio.
Insider Transactions: Since April 22, 2016, the stock had 0 insider purchases, and 20 selling transactions for $7.60 million net activity. 19,062 shares with value of $286,289 were sold by HUDSON CASSANDRA on Friday, September 23. On Wednesday, August 3 FLOWERS JEFFRY sold $664,855 worth of the stock or 51,020 shares. 6,172 shares were sold by SHEER DANIELLE, worth $58,615 on Monday, June 13. FOLGER ANTHONY sold 8,181 shares worth $80,092. The insider MV Management X – L.L.C. sold $4.33M. $43,245 worth of Carbonite Inc (NASDAQ:CARB) was sold by Raissipour David.
More recent Carbonite Inc (NASDAQ:CARB) news were published by: Fool.com which released: “7 Reasons I Bought Carbonite Inc. Stock” on August 26, 2016. Also Fool.com published the news titled: “Why Carbonite Inc. Stock Soared Today” on August 02, 2016. Investorplace.com‘s news article titled: “Why Biostar Pharmaceuticals Inc (BSPM), Carbonite Inc (CARB) and Yum! Brands …” with publication date: October 11, 2016 was also an interesting one.
CARB Company Profile
Carbonite, Inc. (Carbonite), incorporated on February 10, 2005, provides cloud and business continuity solutions. The Company’s solutions are designed to address the specific needs of small and medium sized businesses (SMBs) and individuals. The Firm offers various solutions, such as Carbonite Personal, Carbonite Pro, Carbonite Server Backup and MailStore.
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