Carbonite (NASDAQ:CARB) was upgraded by analysts at Northland Capital Partners from a “market perform” rating to an “outperform” rating in a research report issued to clients and investors on Thursday, AnalystRatingsNetwork reports.
Shares of Carbonite (NASDAQ:CARB) traded up 0.37% during mid-day trading on Thursday, hitting $13.40. Carbonite has a 52 week low of $5.75 and a 52 week high of $14.10. The stock’s 50-day moving average is currently $13.0. The company’s market cap is $348.0 million.
Carbonite (NASDAQ:CARB) last issued its quarterly earnings data on Tuesday, July 30th. The company reported ($0.02) EPS for the quarter, beating the Thomson Reuters consensus estimate of ($0.11) by $0.09. The company had revenue of $26.20 million for the quarter, compared to the consensus estimate of $25.81 million. During the same quarter in the prior year, the company posted ($0.11) earnings per share. The company’s quarterly revenue was up 29.7% on a year-over-year basis. On average, analysts predict that Carbonite will post $-0.34 earnings per share for the current fiscal year.
Other equities research analysts have also recently issued reports about the stock. Analysts at JPMorgan Cazenove raised their price target on shares of Carbonite from $13.00 to $16.00 in a research note to investors on Thursday. They now have an “overweight” rating on the stock. Separately, analysts at Canaccord Genuity raised their price target on shares of Carbonite from $12.50 to $15.00 in a research note to investors on Wednesday. They now have a “buy” rating on the stock. Finally, analysts at Northland Securities raised their price target on shares of Carbonite from $11.50 to $17.00 in a research note to investors on Wednesday. They now have an “outperform” rating on the stock.
Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $15.00.
Carbonite, Inc (NASDAQ:CARB) focuses on the development and marketing of personal computer backup software that enables users to backup, access, and restore data files online.
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