Carbonite (CARB): Range Bound or Bound to Head Lower?
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Price: $22.98 --0%
Rating Summary:
2 Buy, 13 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 12 | Down: 23 | New: 22
Rating Summary:
2 Buy, 13 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 12 | Down: 23 | New: 22
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Canaccord Genuity maintained a Buy rating on Carbonite (NASDAQ: CARB) and cuts its price target to $8.00.
Analyst Richard Davis said "CARB shares have weakened on concerns about competition, a CFO transition, and uncertainty as how long the extension into SMB backup will take to become a material contribution."
Davis said he would not be surprised if the stock grinds in a relatively narrow band for six months or so, but likes sub-$6 as an attractive entry point.
"Stock likely to bump along, probably protected by a low EV/revenues ratio," said Davis, noting that a rebound in fundamentals could turn momentum on a dime.
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 $5.90 yesterday.
Analyst Richard Davis said "CARB shares have weakened on concerns about competition, a CFO transition, and uncertainty as how long the extension into SMB backup will take to become a material contribution."
Davis said he would not be surprised if the stock grinds in a relatively narrow band for six months or so, but likes sub-$6 as an attractive entry point.
"Stock likely to bump along, probably protected by a low EV/revenues ratio," said Davis, noting that a rebound in fundamentals could turn momentum on a dime.
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 $5.90 yesterday.
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