Technology

Highlights of Hot stock: Carbonite, Inc. (NASDAQ: CARB)

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On Monday, Carbonite, Inc. (NASDAQ: CARB) shares price traded between $33.71 and $35.80 during the last trading session above with +2.58% at $35.80. The shares recorded a trading volume 202,533 million shares as compared to its average volume of 386,601 shares. The company has 28.58M shares outstanding and market value of 1.023B. Over the one year trading period, the stock has a peak price of $41.25 and its down is recorded at $18.55. The short ratio in the stock is 6.53 and the short float is around of 9.27%.

Carbonite, Inc. (CARB) reported financial results for the quarter ended March 31, 2018.

First Quarter 2018 Results:

Revenue for the first quarter was $64.0M, a raise of 12% from $57.1M in the first quarter of 2017. Non-GAAP revenue for the first quarter was $64.9M, a raise of 10% from $59.1M in the first quarter of 2017.1

Bookings for the first quarter were $67.6M, a raise of 9% from $62.1M in the first quarter of 2017.2

Gross margin for the first quarter was 71.4%, contrast to 69.6% in the first quarter of 2017. Non-GAAP gross margin was 76.1% in the first quarter, contrast to 73.8% in the first quarter of 2017.3

Net income for the first quarter was $11.9M, contrast to net income of $7.6M in the first quarter of 2017. Non-GAAP net income for the first quarter was $8.1M, contrast to non-GAAP net income of $2.5M in the first quarter of 2017.4

Net income per share for the first quarter was $0.42 (basic) and $0.40 (diluted), contrast to net income per share of $0.27 (basic and diluted) in the first quarter of 2017. Non-GAAP net income per share was $0.29 (basic) and $0.27 (diluted) for the first quarter, contrast to non-GAAP net income per share of $0.09 (basic and diluted) in the first quarter of 2017.4

Cash flow from operations for the first quarter was $3.3M, contrast to $7.6M in the first quarter of 2017. Adjusted free cash flow for the first quarter was $2.4M, contrast to $2.3M in the first quarter of 2017.5

The average true range of Carbonite, Inc.’s (CARB) is recorded at 1.38 and the relative strength index of the stock stands 45.02. The stock price is going above to its 52 week low with 92.99% and lagging behind from its 52 week high with -13.21%. Analyst recommendation for this stock stands at 2.00. A look on the firm performance, its monthly performance is -7.49% and a quarterly performance of 20.54%. The stock price is trading upbeat from its 200 days moving average with 29.07% and up from 50 days moving average with 0.30%.

Anthony Folger, CFO of Carbonite said that In the first quarter the company delivered financial results that were at or above the top of the company guidance range. At the same time, the company is making the system and platform investments that will allow team to continue to drive meaningful operating synergies over time. Furthermore, he added “Our Q1 results coupled with the acquisition of Mozy position us well for continued growth and profitability expansion,”

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