Rosenblatt Securities analyst Marshall Senk maintained a Buy rating on Carbonite Inc (NASDAQ: CARB) on August 3 and set a price target of $45. The company’s shares closed on Friday at $34.90.
Senk said:
“We are raising our 2018 estimates to reflect both the ongoing improvement in busi- ness bookings (particularly subscription) continued operating leverage and the contin- ued outperformance in the consumer business.”
According to TipRanks.com, Senk is a 5-star analyst with an average return of 22.5% and a 72.9% success rate. Senk covers the Technology sector, focusing on stocks such as Proofpoint Inc, Salesforce.com, and Cloudera Inc.
Carbonite Inc has an analyst consensus of Moderate Buy, with a price target consensus of $39.57, which is a 13.4% upside from current levels. In a report issued on August 3, Oppenheimer also assigned a Buy rating to the stock with a $40 price target.
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Carbonite Inc’s market cap is currently $997.1M and has a P/E ratio of 3490. The company has a Price to Book ratio of 14.78.
Based on the recent corporate insider activity of 88 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.
