Rosenblatt Securities analyst Marshall Senk maintained a Buy rating on Carbonite Inc (NASDAQ: CARB) on May 3 and set a price target of $31. The company’s shares closed on Friday at $32.25, close to its 52-week high of $33.55.
Senk wrote:
“We had the opportunity to spend some time at Dell Technology (DVMT: NR) World earlier this week and were positively surprised at the levels of activity and engagement among Mozy customers in the Carbonite booth.”
According to TipRanks.com, Senk is a 5-star analyst with an average return of 27.8% and a 84.1% success rate. Senk covers the Technology sector, focusing on stocks such as Proofpoint Inc, Synacor Inc, and Splunk Inc.
Currently, the analyst consensus on Carbonite Inc is Moderate Buy and the average price target is $32.17, representing a -0.2% downside.
In a report issued on April 27, JMP Securities also maintained a Buy rating on the stock with a $36 price target.
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The company has a one-year high of $33.55 and a one-year low of $18.30. Currently, Carbonite Inc has an average volume of 398.1K.
Based on the recent corporate insider activity of 90 insiders, corporate insider sentiment is negative on the stock.
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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.
