Exclusive: What’s Ahead for Carbonite Inc After Making 52-Week High?

Exclusive: What's Ahead for Carbonite Inc After Making 52 Week High?

The stock of Carbonite Inc (NASDAQ:CARB) hit a new 52-week high and has $25.55 target or 37.00% above today’s $18.65 share price. The 8 months bullish chart indicates low risk for the $520.30 million company. The 1-year high was reported on Nov, 14 by Barchart.com. If the $25.55 price target is reached, the company will be worth $192.51M 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 125,326 shares traded hands. Carbonite Inc (NASDAQ:CARB) has risen 139.30% since April 12, 2016 and is uptrending. It has outperformed by 134.32% the S&P500.

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 has “Sell” rating by Zacks given on Monday, September 21. The firm earned “Outperform” rating on Tuesday, October 11 by Oppenheimer. The stock of Carbonite Inc (NASDAQ:CARB) has “Buy” rating given on Friday, June 10 by B. Riley & Co.

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.
First Allied Advisory Serv last reported 39,680 shares in the company. Schwab Charles Inv Mgmt accumulated 71,165 shares or 0% of the stock. Strs Ohio has 62,800 shares for 0% of their US portfolio. Coe Capital Mgmt Ltd Liability Corp, a Illinois-based fund reported 73,028 shares. Moreover, D E Shaw has 0.01% invested in Carbonite Inc (NASDAQ:CARB) for 379,351 shares. Amer Intl accumulated 10,235 shares or 0% of the stock. Blackrock has invested 0% of its portfolio in Carbonite Inc (NASDAQ:CARB). Sg Capital Mngmt Ltd holds 0.27% or 114,134 shares in its portfolio. Goldman Sachs accumulated 0% or 29,083 shares. Raymond James Fincl Advsrs has 17,329 shares for 0% of their US portfolio. The California-based Lyon Street Capital has invested 4.12% in Carbonite Inc (NASDAQ:CARB). Skylands Ltd Liability Co has 25,350 shares for 0.04% of their US portfolio. Glenmede Tru Na accumulated 0% or 11,257 shares. Moreover, Blair William & Il has 0% invested in Carbonite Inc (NASDAQ:CARB) for 10,500 shares. Tudor Corp Et Al, a Connecticut-based fund reported 12,322 shares.

Insider Transactions: Since May 19, 2016, the stock had 0 buys, and 22 sales for $7.97 million net activity. The insider FOLGER ANTHONY sold 6,000 shares worth $79,380. $6,299 worth of Carbonite Inc (NASDAQ:CARB) was sold by HUDSON CASSANDRA on Monday, June 13. SHEER DANIELLE sold 206 shares worth $2,841. $636,462 worth of Carbonite Inc (NASDAQ:CARB) was sold by FLOWERS JEFFRY. Raissipour David also sold $26,566 worth of Carbonite Inc (NASDAQ:CARB) on Monday, August 15. On Tuesday, June 7 MV Management X – L.L.C. sold $4.33M worth of the stock or 440,000 shares.

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.

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