Needham & Company Reiterates a 'Buy' on Carbonite (CARB); A Good Start: Solid Upside in Q1 Out of the Box

Needham & Company reiterates a 'Buy' on Carbonite (NASDAQ: CARB) price target of $16.00.

Needham analyst, Richard Davis, says, "Carbonite reported a beat and raise quarter to kick off its track record as a public company. A broadening product portfolio, undisputed brand leadership, and attractive per customer economics affords Carbonite the opportunity to post top decile growth and expanding cash flow margins for several years to come. Combine this with a reasonably attractive valuation (2.7x ‘12E EV/revs) and we believe an investment in CARB makes an attractive risk/reward."

For an analyst ratings summary and ratings history on Carbonite click here. For more ratings news on Carbonite click here.

Shares of Carbonite closed at $11.81 yesterday.

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