Carbonite (CARB) closed the most recent trading day at $24.40, moving -1.49% from the previous trading session. This change was narrower than the S&P 500's 1.9% loss on the day. Elsewhere, the Dow lost 1.77%, while the tech-heavy Nasdaq lost 2.5%.
Coming into today, shares of the cloud computing company had gained 5.67% in the past month. In that same time, the Computer and Technology sector gained 7.04%, while the S&P 500 gained 3.04%.
Investors will be hoping for strength from CARB as it approaches its next earnings release. On that day, CARB is projected to report earnings of $0.37 per share, which would represent year-over-year growth of 37.04%. Our most recent consensus estimate is calling for quarterly revenue of $77.47 million, up 20.99% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $1.71 per share and revenue of $493.93 million. These totals would mark changes of +3.01% and +65.25%, respectively, from last year.
Investors might also notice recent changes to analyst estimates for CARB. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. CARB is currently a Zacks Rank #2 (Buy).
In terms of valuation, CARB is currently trading at a Forward P/E ratio of 14.48. This valuation marks a discount compared to its industry's average Forward P/E of 24.03.
We can also see that CARB currently has a PEG ratio of 0.72. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. CARB's industry had an average PEG ratio of 2.12 as of yesterday's close.
The Computer - Services industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 30, putting it in the top 12% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow CARB in the coming trading sessions, be sure to utilize Zacks.com.
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Carbonite, Inc. (CARB) : Free Stock Analysis Report
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