Carbonite (CARB - Free Report) closed at $25.09 in the latest trading session, marking a -1.18% move from the prior day. This move lagged the S&P 500's daily gain of 0.05%. Elsewhere, the Dow gained 0.26%, while the tech-heavy Nasdaq added 0.3%.
Heading into today, shares of the cloud computing company had gained 3.51% over the past month, lagging the Computer and Technology sector's gain of 3.73% and outpacing the S&P 500's gain of 3.08% in that time.
Wall Street will be looking for positivity from CARB as it approaches its next earnings report date. 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.
CARB's full-year Zacks Consensus Estimates are calling for earnings of $1.72 per share and revenue of $494.08 million. These results would represent year-over-year changes of +3.61% and +65.3%, respectively.
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. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
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. The Zacks Consensus EPS estimate has moved 1.65% higher within the past month. CARB is currently a Zacks Rank #3 (Hold).
Valuation is also important, so investors should note that CARB has a Forward P/E ratio of 14.74 right now. For comparison, its industry has an average Forward P/E of 19.84, which means CARB is trading at a discount to the group.
We can also see that CARB currently has a PEG ratio of 0.74. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. Computer - Services stocks are, on average, holding a PEG ratio of 2.22 based on yesterday's closing prices.
The Computer - Services industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 34, putting it in the top 14% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.