Carbonite Inc (CARB) Receives a Sell from Barclays
In a report released today, Saket Kalia from Barclays maintained a Sell rating on Carbonite Inc (CARB), with a price target of $16.00. The company’s shares closed last Monday at $15.26, close to its 52-week low of $11.86.
According to TipRanks.com, Kalia is a 4-star analyst with an average return of 9.3% and a 51.8% success rate. Kalia covers the Technology sector, focusing on stocks such as CyberArk Software, Varonis Systems, and Pluralsight Inc.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Carbonite Inc with a $26.75 average price target.
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Based on Carbonite Inc’s latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $11.27 million. In comparison, last year the company had a net profit of $586K.
Based on the recent corporate insider activity of 124 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of CARB in relation to earlier this year.
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Carbonite, Inc. is engaged 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.
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