Box Inc. (BOX) Stock Rating Reaffirmed by Drexel Hamilton
Box Inc. (NYSE:BOX)‘s stock had its “buy” rating reiterated by Drexel Hamilton in a research report issued to clients and investors on Friday. They presently have a $18.00 price target on the stock. Drexel Hamilton’s target price suggests a potential upside of 23.54% from the stock’s current price.
A number of other brokerages also recently issued reports on BOX. Oppenheimer Holdings Inc. reissued an “outperform” rating and set a $18.00 price objective on shares of Box in a research report on Monday, August 15th. Bank of America Corp. restated a “buy” rating and set a $18.00 target price on shares of Box in a research note on Monday, August 22nd. Vetr cut shares of Box from a “buy” rating to a “hold” rating and set a $11.67 target price on the stock. in a research note on Thursday, July 28th. Zacks Investment Research upgraded shares of Box from a “hold” rating to a “buy” rating and set a $13.00 target price on the stock in a research note on Tuesday, June 7th. Finally, Mitsubishi UFJ Financial Group assumed coverage on shares of Box in a research note on Friday. They set a “neutral” rating and a $15.00 target price on the stock. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $17.39.
Box (NYSE:BOX) opened at 14.57 on Friday. The company’s market capitalization is $1.85 billion. Box has a 52 week low of $8.82 and a 52 week high of $14.93. The stock’s 50 day moving average price is $13.24 and its 200-day moving average price is $12.15.
Box (NYSE:BOX) last issued its quarterly earnings data on Wednesday, August 31st. The company reported ($0.14) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.19) by $0.05. Box had a negative net margin of 52.12% and a negative return on equity of 133.73%. The firm earned $95.70 million during the quarter, compared to the consensus estimate of $94.65 million. During the same quarter in the previous year, the firm posted ($0.28) EPS. The company’s revenue for the quarter was up 30.2% compared to the same quarter last year. On average, equities research analysts predict that Box will post ($0.68) earnings per share for the current fiscal year.
In other news, COO Daniel J. Levin sold 5,000 shares of the company’s stock in a transaction dated Tuesday, September 6th. The shares were sold at an average price of $14.35, for a total transaction of $71,750.00. Following the sale, the chief operating officer now directly owns 3,079 shares in the company, valued at approximately $44,183.65. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 22.30% of the company’s stock.
Several hedge funds have recently made changes to their positions in the stock. Parametric Portfolio Associates LLC acquired a new stake in shares of Box during the second quarter valued at about $108,000. BlackRock Group LTD boosted its stake in shares of Box by 78.3% in the first quarter. BlackRock Group LTD now owns 9,725 shares of the company’s stock valued at $119,000 after buying an additional 4,270 shares in the last quarter. Squarepoint Ops LLC acquired a new stake in shares of Box during the first quarter valued at about $126,000. Capstone Investment Advisors LLC acquired a new stake in shares of Box during the second quarter valued at about $129,000. Finally, Royal Bank of Canada boosted its stake in shares of Box by 83.0% in the first quarter. Royal Bank of Canada now owns 10,986 shares of the company’s stock valued at $134,000 after buying an additional 4,983 shares in the last quarter. Hedge funds and other institutional investors own 27.08% of the company’s stock.
Box Company Profile
Box, Inc provides an enterprise content management platform that enables organizations of all sizes to manage enterprise content while allowing access and sharing of this content from anywhere, on any device. With the Company’s Software-as-a-Service (SaaS) cloud-based platform, users can collaborate on content both internally and with external parties, automate content-driven business processes, develop custom applications, and implement data protection, security and compliance features to comply with internal policies and industry regulations.
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