Carbonite (CARB - Free Report) closed the most recent trading day at $24.34, moving -0.69% from the previous trading session. This change lagged the S&P 500's daily gain of 0.21%. Elsewhere, the Dow gained 0.64%, while the tech-heavy Nasdaq lost 0.05%.
Heading into today, shares of the cloud computing company had gained 3.11% over the past month, lagging the Computer and Technology sector's gain of 5.1% and outpacing the S&P 500's gain of 2.57% in that time.
CARB will be looking to display strength as it nears its next earnings release. In that report, analysts expect CARB to post earnings of $0.37 per share. This would mark 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.
For the full year, our Zacks Consensus Estimates are projecting earnings of $1.72 per share and revenue of $494.08 million, which would represent changes of +3.61% and +65.3%, respectively, from the prior year.
Any recent changes to analyst estimates for CARB should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 1.65% higher. CARB is currently sporting a Zacks Rank of #1 (Strong Buy).
Investors should also note CARB's current valuation metrics, including its Forward P/E ratio of 14.23. Its industry sports an average Forward P/E of 19.74, so we one might conclude that CARB is trading at a discount comparatively.
We can also see that CARB currently has a PEG ratio of 0.71. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Computer - Services was holding an average PEG ratio of 2.19 at yesterday's closing price.
The Computer - Services industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 23, which puts it in the top 10% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
You can find more information on all of these metrics, and much more, on Zacks.com.