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Increased Earnings Estimates Seen for Carbonite (CARB): Can It Move Higher?

Carbonite, Inc. CARB is a Computer services company that could be an interesting play for investors. That is because, not only does the stock have decent short-term momentum, but it is seeing solid activity on the earnings estimate revision front as well.

These positive earnings estimate revisions suggest that analysts are becoming more optimistic on CARB’s earnings for the coming quarter and year. In fact, consensus estimates have moved sharply higher for both of these time frames over the past four weeks, suggesting that Carbonite could be a solid choice for investors.

Current Quarter Estimates for CARB

In the past 30 days, 1 estimate has gone higher for Carbonite while none has gone lower in the same time period. The trend has been pretty favorable too, with estimates narrowing from a loss of 12 cents per share 30 days ago, to a loss of 7 cents today, a move of 41.7%.

Current Year Estimates for CARB

Meanwhile, Carbonite current year figures are also looking quite promising, with 1 estimate moving higher in the past month, compared to none lower. The consensus estimate trend has also seen a boost for this time frame, with estimates narrowing from a loss of 40 cents per share 30 days ago, to a loss of 4 cents today, a move of 90%.

Bottom Line

The stock has also started to move higher lately, adding 19.9% over the past four weeks, suggesting that investors are starting to take note of this impressive story. So investors may definitely want to consider this Zacks Rank #1 (Strong Buy) stock to profit in the near future.

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CARBONITE INC (CARB): Free Stock Analysis Report
 
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