Stock of The Day: Can Carbonite Inc’s Tomorrow be Different? The Stock Declines Again

Stock of The Day: Can Carbonite Inc's Tomorrow be Different? The Stock Declines Again

The stock of Carbonite Inc (NASDAQ:CARB) is a huge mover today! The stock decreased 1.95% or $0.3 during the last trading session, hitting $15.1. About 336,334 shares traded hands or 3.67% up from the average. Carbonite Inc (NASDAQ:CARB) has risen 94.94% since March 2, 2016 and is uptrending. It has outperformed by 86.68% the S&P500.
The move comes after 6 months negative chart setup for the $415.05M company. It was reported on Oct, 6 by Barchart.com. We have $13.14 PT which if reached, will make NASDAQ:CARB worth $53.96 million less.

Analysts await Carbonite Inc (NASDAQ:CARB) to report earnings on October, 26. They expect $-0.02 EPS, up 87.50% or $0.14 from last year’s $-0.16 per share. After $0.12 actual EPS 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 3 analysts covering Carbonite (NASDAQ:CARB), 1 rate it a “Buy”, 2 “Sell”, while 0 “Hold”. This means 33% are positive. Carbonite has been the topic of 3 analyst reports since September 21, 2015 according to StockzIntelligence Inc. B. Riley & Co initiated the stock with “Buy” rating in Friday, June 10 report. The rating was downgraded by Zacks to “Sell” 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 Q2 2016. Its up 0.92, from 1.08 in 2016Q1. The ratio increased, 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.
Arrowpoint Asset accumulated 0.16% or 831,213 shares. Morgan Stanley accumulated 548 shares or 0% of the stock. Geode Capital Ltd Liability accumulated 0% or 122,954 shares. Goldman Sachs Grp has invested 0% of its portfolio in Carbonite Inc (NASDAQ:CARB). White Pine Capital Limited Liability Corp accumulated 0.29% or 69,920 shares. Invesco Limited accumulated 17,304 shares or 0% of the stock. Aberdeen Asset Mgmt Plc Uk has 12,062 shares for 0% of their US portfolio. Advsr Ltd Limited Liability Corporation accumulated 200 shares or 0% of the stock. Tfs Capital Limited Liability, a Pennsylvania-based fund reported 22,893 shares. Jpmorgan Chase has invested 0% of its portfolio in Carbonite Inc (NASDAQ:CARB). Geneva Advsrs holds 76,547 shares or 0.01% of its portfolio. Highbridge Limited Liability Corp holds 0% or 24,528 shares in its portfolio. Ellington Mngmt Group Inc Limited Co last reported 0.16% of its portfolio in the stock. King Luther Management Corporation reported 16,000 shares or 0% of all its holdings. Harbourvest Prns owns 30,941 shares or 0.15% of their US portfolio.

Insider Transactions: Since April 22, 2016, the stock had 0 insider purchases, and 22 sales for $7.54 million net activity. $7,074 worth of Carbonite Inc (NASDAQ:CARB) was sold by FOLGER ANTHONY. SHEER DANIELLE sold $6,742 worth of stock. 51,020 shares were sold by FLOWERS JEFFRY, worth $664,855. $26,566 worth of Carbonite Inc (NASDAQ:CARB) shares were sold by Raissipour David. 13,158 Carbonite Inc (NASDAQ:CARB) shares with value of $166,083 were sold by HUDSON CASSANDRA. MV Management X – L.L.C. sold 440,000 shares worth $4.33 million.

More news for Carbonite Inc (NASDAQ:CARB) were recently published by: Fool.com, which released: “7 Reasons I Bought Carbonite Inc. Stock” on August 26, 2016. Fool.com‘s article titled: “Why Carbonite Inc. Stock Soared Today” and published on August 02, 2016 is yet another important article.

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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