Investment analysts at Jefferies Financial Group assumed coverage on shares of Carbonite (NASDAQ:CARB) in a research report issued to clients and investors on Friday, Marketbeat reports. The firm set a “buy” rating and a $45.00 price target on the technology company’s stock. Jefferies Financial Group’s target price would indicate a potential upside of 33.53% from the company’s previous close.

Other analysts also recently issued research reports about the company. BidaskClub upgraded Carbonite from a “sell” rating to a “hold” rating in a report on Tuesday, August 14th. ValuEngine downgraded Carbonite from a “strong-buy” rating to a “buy” rating in a report on Monday, July 2nd. TheStreet upgraded Carbonite from a “d+” rating to a “c” rating in a report on Friday, August 3rd. Stifel Nicolaus began coverage on Carbonite in a report on Monday, August 20th. They set a “buy” rating and a $44.00 price objective on the stock. Finally, Zacks Investment Research upgraded Carbonite from a “hold” rating to a “strong-buy” rating and set a $42.00 price objective on the stock in a report on Monday, September 24th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and eleven have issued a buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $39.33.

Shares of NASDAQ CARB opened at $33.70 on Friday. Carbonite has a twelve month low of $20.50 and a twelve month high of $43.63. The company has a debt-to-equity ratio of 2.85, a current ratio of 0.73 and a quick ratio of 0.73. The stock has a market capitalization of $1.20 billion, a price-to-earnings ratio of 67.40, a price-to-earnings-growth ratio of 0.85 and a beta of 0.55.

Carbonite (NASDAQ:CARB) last issued its quarterly earnings results on Thursday, August 2nd. The technology company reported $0.45 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.30 by $0.15. Carbonite had a net margin of 0.39% and a return on equity of 46.67%. The company had revenue of $77.70 million during the quarter, compared to the consensus estimate of $78.89 million. During the same period in the prior year, the company earned $0.15 EPS. Carbonite’s revenue was up 31.7% on a year-over-year basis. On average, equities research analysts forecast that Carbonite will post 1.05 EPS for the current year.

In other news, Director David Friend sold 698,080 shares of the company’s stock in a transaction dated Monday, July 23rd. The stock was sold at an average price of $37.50, for a total value of $26,178,000.00. Following the transaction, the director now owns 51,880 shares in the company, valued at approximately $1,945,500. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Deepak Mohan sold 3,389 shares of the company’s stock in a transaction dated Thursday, August 2nd. The shares were sold at an average price of $34.25, for a total value of $116,073.25. The disclosure for this sale can be found here. Insiders sold a total of 748,442 shares of company stock worth $28,188,408 in the last quarter. 9.80% of the stock is owned by corporate insiders.

Several institutional investors and hedge funds have recently modified their holdings of CARB. Summit Creek Advisors LLC grew its stake in shares of Carbonite by 17.4% in the 3rd quarter. Summit Creek Advisors LLC now owns 540,933 shares of the technology company’s stock valued at $19,284,000 after buying an additional 80,020 shares in the last quarter. United Services Automobile Association grew its stake in shares of Carbonite by 8.0% in the 2nd quarter. United Services Automobile Association now owns 44,802 shares of the technology company’s stock valued at $1,564,000 after buying an additional 3,300 shares in the last quarter. Northern Trust Corp grew its stake in shares of Carbonite by 5.0% in the 2nd quarter. Northern Trust Corp now owns 352,548 shares of the technology company’s stock valued at $12,304,000 after buying an additional 16,857 shares in the last quarter. Bank of New York Mellon Corp grew its stake in shares of Carbonite by 41.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 338,067 shares of the technology company’s stock valued at $11,798,000 after buying an additional 99,018 shares in the last quarter. Finally, WINTON GROUP Ltd grew its stake in shares of Carbonite by 17.6% in the 2nd quarter. WINTON GROUP Ltd now owns 8,692 shares of the technology company’s stock valued at $303,000 after buying an additional 1,298 shares in the last quarter. Institutional investors own 84.37% of the company’s stock.

Carbonite Company Profile

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.

Featured Article: Short Selling Stocks and Day Traders

Analyst Recommendations for Carbonite (NASDAQ:CARB)

Receive News & Ratings for Carbonite Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Carbonite and related companies with MarketBeat.com's FREE daily email newsletter.