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CARB

Carbonite

$21.70

0.55 (2.60%)

16:18
02/13/18
02/13
16:18
02/13/18
16:18

Carbonite acquires Mozy for $148.5M

-- Carbonite announced financial results for the quarter and full year ended December 31, 2017. The Company also announced it has entered into a definitive agreement to acquire Mozy from a subsidiary of Dell Technologies. The deal expands Carbonite's customer base and better positions Carbonite to offer its data protection platform to every segment of the market.The total purchase price for Mozy is $145.8 million in cash. The Company will fund the transaction with existing cash and newly secured financing commitments in the form of a $120.0 million revolving credit facility. The credit agreement will allow the Company to borrow, as needed, for general corporate purposes, including acquisitions. The transaction is expected to close during the first quarter of 2018 and is subject to customary closing conditions and regulatory approvals. Barclays acted as financial advisor to the Company for the acquisition of Mozy. Stifel also acted as an advisor.

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CARB Carbonite
$21.70

0.55 (2.60%)

11/27/17
JMPS
11/27/17
NO CHANGE
JMPS
Outperform
JMP Securities reiterates Outperform rating on Carbonite after Barracuda buyout
After Barracuda Networks (CUDA) announced a deal to be acquired by Thoma Bravo for $27.55 per share in cash, JMP Securities analyst Erik Suppiger reiterated his Outperform rating on Carbonite (CARB), saying that the deal validates the attraction of the small and midsize business data protection and security market. He also noted that Carbonite trades at a 33% discount to the deal price agreed to for Barracuda on a revenue multiple basis and a 34% discount on an earnings multiple basis based on 2018 estimates.
10/17/17
JMPS
10/17/17
INITIATION
Target $30
JMPS
Outperform
Carbonite initiated with an Outperform at JMP Securities
JMP Securities analyst Erik Suppiger started Carbonite with an Outperform rating and $30 price target, stating that his channel checks with partners suggest the company has a premier brand and offers a differentiated product. Though the stock is up close to 50% over the last year, Suppiger said he believes there is room for continued upside.
06/26/17
06/26/17
INITIATION

On The Fly: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. PRA Health (PRAH) initiated with a Buy at BofA/Merrill by analyst Derik de Bruin , who cited its flexible and competitive CRO offerings, positive CRO industry fundamentals, and above average growth. 2. Cutera (CUTR) initiated with a Buy at Roth Capital by analyst Chris Lewis, who believes the company is well-positioned for increased U.S. productivity and more substantial profitability. He also views Cutera as a potentially "attractive" takeover target. 3. LyondellBasell (LYB) initiated with a Buy and $101 price target at HSBC by analyst Sriharsha Pappu. 4. Carbonite (CARB) initiated with an Equal Weight by Barclays analyst Saket Kalia, who set a $26 price target on the stock. 5. Green Dot (GDOT) initiated with a Hold at Lake Street by analyst Josh Elving. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
06/26/17
LEHM
06/26/17
INITIATION
Target $26
LEHM
Equal Weight
Carbonite initiated with an Equal Weight at Barclays
Barclays analyst Saket Kalia started Carbonite with an Equal Weight rating and $26 price target.

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