The stock of Carbonite Inc (NASDAQ:CARB) hit a new 52-week high and has $24.58 target or 28.00% above today’s $19.20 share price. The 7 months bullish chart indicates low risk for the $531.63 million company. The 1-year high was reported on Nov, 21 by Barchart.com. If the $24.58 price target is reached, the company will be worth $148.86M 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 49,677 shares traded hands. Carbonite Inc (NASDAQ:CARB) has risen 144.92% since April 19, 2016 and is uptrending. It has outperformed by 141.06% 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 “Outperform” rating given on Tuesday, October 11 by Oppenheimer. The firm earned “Sell” rating on Monday, September 21 by Zacks. B. Riley & Co initiated Carbonite Inc (NASDAQ:CARB) on Friday, June 10 with “Buy” rating.
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 2.11 in Q2 2016. Its up 0.11, from 2 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.
Royal Comml Bank Of Canada last reported 10,500 shares in the company. Morgan Stanley holds 0% or 548 shares in its portfolio. G2 Investment Ptnrs Limited reported 253,585 shares or 1.14% of all its holdings. Springbok Cap Management accumulated 0.01% or 6,153 shares. Ellington Grp Inc Ltd Liability Corporation holds 11,600 shares or 0.16% of its portfolio. Menta Limited Liability Co has 0.08% invested in the company for 61,607 shares. The Illinois-based Sg Cap Limited Liability has invested 0.27% in Carbonite Inc (NASDAQ:CARB). Panagora Asset Management owns 316,634 shares or 0.02% of their US portfolio. National Bank Of America De holds 0% or 89,895 shares in its portfolio. Coe Mngmt Ltd Liability Corporation last reported 73,028 shares in the company. Moreover, Acadian Asset Mngmt Ltd Liability Corp has 0% invested in Carbonite Inc (NASDAQ:CARB) for 11,958 shares. Tudor Corp Et Al holds 0% or 12,322 shares in its portfolio. Renaissance Tech Ltd Liability Co accumulated 0.03% or 1.42M shares. Tfs has invested 0.04% of its portfolio in Carbonite Inc (NASDAQ:CARB). D E Shaw And accumulated 379,351 shares or 0.01% of the stock.
Insider Transactions: Since May 26, 2016, the stock had 0 insider purchases, and 23 selling transactions for $15.71 million net activity. FLOWERS JEFFRY sold $636,462 worth of Carbonite Inc (NASDAQ:CARB) on Friday, August 5. $43,245 worth of Carbonite Inc (NASDAQ:CARB) was sold by Raissipour David on Friday, June 10. $58,615 worth of Carbonite Inc (NASDAQ:CARB) shares were sold by SHEER DANIELLE. HUDSON CASSANDRA sold $166,083 worth of stock or 13,158 shares. 513 shares were sold by FOLGER ANTHONY, worth $7,074. On Tuesday, June 7 the insider MV Management X – L.L.C. sold $4.33 million. On Tuesday, November 15 FRIEND DAVID sold $5.13M worth of the stock or 280,000 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.
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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