The stock of Carbonite Inc (NASDAQ:CARB) is a huge mover today! About 565,755 shares traded hands or 73.95% up from the average. Carbonite Inc (NASDAQ:CARB) has risen 83.94% since March 8, 2016 and is uptrending. It has outperformed by 74.62% the S&P500.
The move comes after 8 months positive chart setup for the $425.05 million company. It was reported on Oct, 11 by Barchart.com. We have $22.51 PT which if reached, will make NASDAQ:CARB worth $182.77M more.
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. $15 is the highest target while $8 is the lowest. The $11.50 average target is -26.94% below today’s ($15.74) stock price. Carbonite has been the topic of 3 analyst reports since September 21, 2015 according to StockzIntelligence Inc. The firm has “Buy” rating given on Friday, June 10 by B. Riley & Co. Zacks downgraded the stock to “Sell” rating in Monday, September 21 report.
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.
Price T Rowe Assoc Md has 0% invested in the company for 78,979 shares. Jacobs Levy Equity reported 77,088 shares or 0.02% of all its holdings. Tfs Capital Ltd Liability has invested 0.04% of its portfolio in Carbonite Inc (NASDAQ:CARB). Retail Bank Of Montreal Can last reported 13,869 shares in the company. Spark Invest Llc holds 0.15% of its portfolio in Carbonite Inc (NASDAQ:CARB) for 168,700 shares. The Ontario – Canada-based Royal National Bank Of Canada has invested 0% in Carbonite Inc (NASDAQ:CARB). Aberdeen Asset Mgmt Public Ltd Co Uk last reported 12,062 shares in the company. Citigroup Inc owns 44,792 shares or 0% of their US portfolio. Secor Cap Advsrs L P owns 56,969 shares or 0.07% of their US portfolio. Century Cos has invested 0% of its portfolio in Carbonite Inc (NASDAQ:CARB). The New York-based Teton Advsrs has invested 0.07% in Carbonite Inc (NASDAQ:CARB). State Board Of Administration Of Florida Retirement Systems last reported 0% of its portfolio in the stock. Geode Mgmt Ltd Liability Corp has 122,954 shares for 0% of their US portfolio. Morgan Stanley accumulated 0% or 548 shares. The California-based Schwab Charles Mgmt has invested 0% in Carbonite Inc (NASDAQ:CARB).
Insider Transactions: Since April 22, 2016, the stock had 0 insider buys, and 22 selling transactions for $7.54 million net activity. SHEER DANIELLE sold $2,841 worth of Carbonite Inc (NASDAQ:CARB) on Friday, August 26. On Friday, August 5 FLOWERS JEFFRY sold $636,462 worth of the stock or 48,980 shares. FOLGER ANTHONY also sold $79,380 worth of Carbonite Inc (NASDAQ:CARB) on Wednesday, August 3. Raissipour David also sold $43,245 worth of Carbonite Inc (NASDAQ:CARB) on Friday, June 10. The insider HUDSON CASSANDRA sold $6,299. The insider MV Management X – L.L.C. sold 440,000 shares worth $4.33 million.
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 Marketwatch.com published the news titled: “Carbonite started at buy with $15 stock price target at B. Riley” on August 10, 2011. Fool.com‘s news article titled: “Why Carbonite Inc. Stock Soared Today” with publication date: August 02, 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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