Carbonite Inc (CARB) reported quarterly earnings results on Tuesday, May-3-2016. The company said it had a profit of $0.15 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.21. Analysts had a consensus of $-0.06. The company posted revenue of $48.10 million in the period, compared to analysts expectations of $41.51 million. The company’s revenue was up 45.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.05 EPS.
Many Wall Street Analysts have commented on Carbonite Inc. Shares were Reiterated by Lake Street on Feb 5, 2016 to “Buy” and Lowered the Price Target to $ 12 from a previous price target of $16 .
Carbonite Inc opened for trading at $7.6 and hit $7.77 on the upside on Monday, eventually ending the session at $7.67, with a gain of 1.72% or 0.13 points. The heightened volatility saw the trading volume jump to 39,639 shares. Company has a market cap of $207 M.
In a different news, on Apr 26, 2016, Danielle Sheer (Vice President;General Counsel) sold 861 shares at $7.83 per share price. According to the SEC, on Apr 26, 2016, Cassandra Hudson (Chief Accounting Officer) sold 1,148 shares at $7.83 per share price. On Apr 26, 2016, Anthony Folger (Chief Financial Officer) sold 7,582 shares at $7.84 per share price, according to the Form-4 filing with the securities and exchange commission.
Carbonite Inc. (Carbonite) provides cloud and hybrid backup solutions. The Company’s solutions are designed to address the specific needs of small and medium sized businesses (SMBs) and individuals. The Company’s suite of solutions includes Carbonite Personal which include unlimited cloud backup for one computer at three different service levels for individuals; Carbonite Pro the Company’s small business workstation solutions automatically back up files to the cloud and include an unlimited number of devices for an annual flat fee based on the amount of storage needed and Carbonite Server Backup the Company’s hybrid server backup solution that protects an unlimited number of servers databases and live applications and offers management capabilities. As of December 31 2014 the Company had subscribers in over 100 countries with subscribers based in the United States representing approximately 94% of its total revenue.