Companies in the Technology sector have received a lot of coverage today as analysts weigh in on Carbonite Inc (CARB) and ServiceSource International Inc (SREV).
Carbonite Inc (CARB)
In a report released today, Sarkis Sherbetchyan from B.Riley FBR reiterated a Buy rating on Carbonite Inc, with a price target of $40. The company’s shares opened today at $24.43, close to its 52-week low of $21.84.
Sherbetchyan said:
“PT) reports 1Q19 results after market close on and will host its quarterly earnings conference call at 5:30pm ET (dial-in: ID#: 5474657). Both our and consensus revenue estimates sit near the midpoint of CARB’s 1Q outlook. However, our adjusted EBITDA sits at the low-end of guidance compared to the consensus, which exceeds the top-end of management’s $20M-$22M outlook. We expect 1Q results in line with guidance and believe there could be noise associated with the close of the Webroot acquisition. Remember, CARB’s FY19 outlook calls for non-GAAP revenues of $488M- $502M and adjusted EBITDA of $129M-$134M. The annual guidance includes nine months of contribution from the Webroot acquisition, which was completed near the end of March.”
Sherbetchyan has an average return of 9.7% when recommending Carbonite Inc.
According to TipRanks.com, Sherbetchyan is ranked #3875 out of 5199 analysts.
Carbonite Inc has an analyst consensus of Moderate Buy, with a price target consensus of $34.67.
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ServiceSource International Inc (SREV)
In a report released today, Zach Cummins from B.Riley FBR maintained a Hold rating on ServiceSource International Inc, with a price target of $1.25. The company’s shares opened today at $1.06, close to its 52-week low of $0.85.
Cummins wrote:
“ServiceSource International (SREV) reports 1Q19 results after the market closes on Wednesday, May 8. The company’s earnings call will follow at 4:30pm ET (Dial-in: 877.293.5486). Our revenue estimate is consistent with the Street, but our adjusted EBITDA estimate is lower due to expected strategic investments in consultants, technology integrations, and process improvements. While our estimates appear achievable, we remain cautious around the quarter given the anticipated customer churn headwinds, which could be further exacerbated by management’s more selective approach to future client engagements. Turning to guidance, given that ~45% of the company’s revenue is up for renewal in of that occurring in the second half of the year, we remain cautious around the company’s prior FY19 outlook.”
According to TipRanks.com, Cummins is ranked 0 out of 5 stars with an average return of -8.7% and a 36.0% success rate. Cummins covers the Technology sector, focusing on stocks such as ChannelAdvisor, Computer Task, and AudioEye Inc.
Currently, the analyst consensus on ServiceSource International Inc is a Hold with an average price target of $1.30.
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