In a report released today, Brian Schwartz from Oppenheimer maintained a Buy rating on Carbonite Inc (NASDAQ: CARB). The company’s shares opened today at $37.50, close to its 52-week high of $41.25.
According to TipRanks.com, Schwartz is a top 25 analyst with an average return of 28.5% and a 77.9% success rate. Schwartz covers the Technology sector, focusing on stocks such as Ultimate Software, Instructure Inc, and Salesforce.com.
Currently, the analyst consensus on Carbonite Inc is a Moderate Buy with an average price target of $40.75, an 8.7% upside from current levels. In a report issued on August 3, Rosenblatt Securities also maintained a Buy rating on the stock with a $45 price target.
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Carbonite Inc’s market cap is currently $1.08B and has a P/E ratio of 3755. The company has a Price to Book ratio of 15.83.
Based on the recent corporate insider activity of 87 insiders, corporate insider sentiment is negative on the stock. Last month, Anthony Folger, the CFO of CARB sold 2,898 shares for a total of $104,908.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
Carbonite, Inc. engages in the provision of cloud and hybrid backup solutions for consumers and small and medium sized businesses. It provides backup, disaster recovery, high availability and workload migration technologies. The company was founded by Jeffry Flowers and David Friend on February 10, 2005 and is headquartered in Boston, MA.
