Wall Street brokerages predict that Carbonite Inc (NASDAQ:CARB) will announce sales of $80.08 million for the current quarter, according to Zacks Investment Research. Six analysts have provided estimates for Carbonite’s earnings. The lowest sales estimate is $79.90 million and the highest is $80.40 million. Carbonite reported sales of $61.69 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 29.8%. The company is scheduled to announce its next quarterly earnings report on Tuesday, February 12th.

According to Zacks, analysts expect that Carbonite will report full-year sales of $303.97 million for the current fiscal year, with estimates ranging from $303.80 million to $304.30 million. For the next financial year, analysts expect that the company will post sales of $336.81 million, with estimates ranging from $329.50 million to $344.59 million. Zacks’ sales averages are an average based on a survey of sell-side research firms that cover Carbonite.

Carbonite (NASDAQ:CARB) last posted its quarterly earnings data on Thursday, November 1st. The technology company reported $0.48 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.41 by $0.07. Carbonite had a net margin of 1.85% and a return on equity of 29.30%. The company had revenue of $79.10 million during the quarter, compared to analyst estimates of $80.15 million. During the same quarter last year, the firm posted $0.25 EPS. The business’s revenue for the quarter was up 25.4% on a year-over-year basis.

Several research analysts have commented on CARB shares. Jefferies Financial Group started coverage on shares of Carbonite in a report on Friday, October 12th. They issued a “buy” rating and a $45.00 target price for the company. BidaskClub upgraded shares of Carbonite from a “hold” rating to a “buy” rating in a report on Saturday, September 8th. Stifel Nicolaus started coverage on shares of Carbonite in a report on Monday, August 20th. They issued a “buy” rating and a $44.00 target price for the company. Zacks Investment Research cut shares of Carbonite from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 3rd. Finally, ValuEngine cut shares of Carbonite from a “buy” rating to a “hold” rating in a report on Friday, November 2nd. Seven analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $38.58.

Shares of CARB opened at $27.61 on Thursday. Carbonite has a one year low of $20.50 and a one year high of $43.63. The stock has a market capitalization of $979.03 million, a price-to-earnings ratio of 55.22, a PEG ratio of 1.26 and a beta of 0.69.

In related news, Director Scott Andrew Daniels purchased 2,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 13th. The stock was acquired at an average cost of $27.57 per share, for a total transaction of $55,140.00. Following the completion of the acquisition, the director now owns 42,070 shares in the company, valued at approximately $1,159,869.90. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, General Counsel Danielle Sheer sold 14,480 shares of the firm’s stock in a transaction that occurred on Friday, September 7th. The stock was sold at an average price of $43.19, for a total transaction of $625,391.20. The disclosure for this sale can be found here. Over the last quarter, insiders sold 80,176 shares of company stock valued at $2,744,831. Corporate insiders own 9.80% of the company’s stock.

Several hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its holdings in shares of Carbonite by 30.4% during the third quarter. Vanguard Group Inc. now owns 1,866,217 shares of the technology company’s stock worth $66,531,000 after purchasing an additional 435,554 shares during the period. Nordea Investment Management AB boosted its holdings in shares of Carbonite by 46.2% during the third quarter. Nordea Investment Management AB now owns 119,897 shares of the technology company’s stock worth $4,276,000 after purchasing an additional 37,862 shares during the period. Teachers Advisors LLC boosted its holdings in shares of Carbonite by 25.7% during the third quarter. Teachers Advisors LLC now owns 60,241 shares of the technology company’s stock worth $2,148,000 after purchasing an additional 12,326 shares during the period. MetLife Investment Advisors LLC boosted its holdings in shares of Carbonite by 81.9% during the third quarter. MetLife Investment Advisors LLC now owns 21,762 shares of the technology company’s stock worth $776,000 after purchasing an additional 9,797 shares during the period. Finally, Kiwi Wealth Investments Limited Partnership acquired a new stake in shares of Carbonite during the third quarter worth approximately $1,266,000.

About Carbonite

Carbonite, Inc, together with its subsidiaries, provides backup, disaster recovery, high availability, and workload migration technology solutions in the United States. Its solutions include Carbonite Safe that offers annual and multi-year cloud backup plans for individuals or businesses; and Carbonite Endpoint Protection that protects the data, which resides on an organization's computers, laptops, tablets, and smartphones.

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