Carbonite (CARB - Free Report) closed at $25.38 in the latest trading session, marking a -0.7% move from the prior day. This change lagged the S&P 500's daily gain of 0.35%. At the same time, the Dow added 0.03%, and the tech-heavy Nasdaq gained 0.7%.
Heading into today, shares of the cloud computing company had gained 1.71% over the past month, lagging the Computer and Technology sector's gain of 6.69% and the S&P 500's gain of 5.14% in that time.
Investors will be hoping for strength from CARB as it approaches 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.
Investors should also note any recent changes to analyst estimates for CARB. 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. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 1.65% higher. CARB is holding a Zacks Rank of #3 (Hold) right now.
Valuation is also important, so investors should note that CARB has a Forward P/E ratio of 14.84 right now. This represents a discount compared to its industry's average Forward P/E of 19.54.
Meanwhile, CARB's PEG ratio is currently 0.74. 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. The Computer - Services was holding an average PEG ratio of 2.17 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 52, which puts it in the top 21% 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.
Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.