Market Overview

UPDATE: Lake Street Capital Initiates Coverage On Carbonite Inc


Lake Street Capital Markets initiated coverage of Carbonite Inc (NASDAQ: CARB) with a Buy rating and $16 price target.

Analyst Eric Martinuzzi issued a report in which he expressed that Carbonite represents a “hidden growth story.”

According to the report, investors may still see Carbonite as an online backup service geared towards the slowing consumer market. Martinuzzi argues that “the company is in the process of writing a second chapter of growth by attacking the SMB backup market with a new product and an expanded channel.”

Additionally, the company has released server backup software, a hybrid local and cloud storage backup appliance and is building out the reseller channel.

The report indicated that the Carbonite’s SMB business is expected to grow 35+ percent between 2014 and 2015. Disruptive pricing also gives Carbonite an advantage according to Martinuzzi, as the new hybrid backup appliance is offered as a service without any CapEx for the customer.

Carbonite Inc. traded at $10.23 late Thursday, up 2.2 percent.

Latest Ratings for CARB

Nov 2019DowngradesOutperformMarket Perform
Nov 2019DowngradesOutperformSector Perform
Oct 2019DowngradesBuyHold

View More Analyst Ratings for CARB
View the Latest Analyst Ratings

Posted-In: Eric Martinuzzi Lake Street Capital MarketsAnalyst Color Price Target Initiation Analyst Ratings


Related Articles (CARB)

View Comments and Join the Discussion!

Latest Ratings

TORCCantor FitzgeraldDowngrades3.0
CIDMCanaccord GenuityMaintains1.5
TDGCanaccord GenuityMaintains620.0
DLPNCanaccord GenuityMaintains1.6
View the Latest Analytics Ratings
Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Trading Daily
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Daily Analyst Rating
A summary of each day’s top rating changes from sell-side analysts on the street.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at

Neurocrine Initiates Tourette Syndrome Clinical Trial

4 Things You Can Do Today To Help Keep Your Retirement Goals On Track