Mitsubishi UFJ Financial Group Initiates Coverage on Box Inc. (BOX)
Mitsubishi UFJ Financial Group began coverage on shares of Box Inc. (NYSE:BOX) in a note issued to investors on Friday. The firm set a “neutral” rating and a $15.00 price target on the stock. Mitsubishi UFJ Financial Group’s price target suggests a potential upside of 2.95% from the stock’s previous close.
Several other brokerages also recently commented on BOX. Bank of America Corp. reaffirmed a “buy” rating and set a $18.00 target price on shares of Box in a report on Monday, August 22nd. Stifel Nicolaus reaffirmed a “hold” rating and set a $15.00 target price on shares of Box in a report on Friday, September 9th. Canaccord Genuity reaffirmed a “buy” rating and set a $17.00 target price on shares of Box in a report on Tuesday, September 13th. Vetr downgraded Box from a “strong-buy” rating to a “buy” rating and set a $14.11 target price on the stock. in a report on Monday, August 22nd. Finally, Zacks Investment Research raised Box from a “hold” rating to a “buy” rating and set a $16.00 target price on the stock in a report on Tuesday, September 13th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. Box has an average rating of “Buy” and an average target price of $17.39.
Box (NYSE:BOX) opened at 14.57 on Friday. The company’s 50 day moving average price is $13.24 and its 200-day moving average price is $12.15. Box has a 12-month low of $8.82 and a 12-month high of $14.93. The company’s market capitalization is $1.85 billion.
Box (NYSE:BOX) last issued its quarterly earnings data on Wednesday, August 31st. The company reported ($0.14) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.19) by $0.05. The business had revenue of $95.70 million for the quarter, compared to analyst estimates of $94.65 million. Box had a negative return on equity of 133.73% and a negative net margin of 52.12%. Box’s quarterly revenue was up 30.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.28) EPS. Equities analysts forecast that Box will post ($0.68) earnings per share for the current fiscal year.
In related news, COO Daniel J. Levin sold 5,000 shares of the business’s stock in a transaction dated Tuesday, September 6th. The stock was sold at an average price of $14.35, for a total value of $71,750.00. Following the completion of the sale, the chief operating officer now directly owns 3,079 shares of the company’s stock, valued at approximately $44,183.65. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 22.30% of the stock is owned by corporate insiders.
A number of hedge funds have recently modified their holdings of BOX. Bares Capital Management Inc. raised its stake in shares of Box by 48.6% in the second quarter. Bares Capital Management Inc. now owns 5,136,447 shares of the company’s stock worth $53,111,000 after buying an additional 1,680,699 shares in the last quarter. Coatue Management LLC raised its stake in shares of Box by 6.5% in the second quarter. Coatue Management LLC now owns 4,058,589 shares of the company’s stock worth $41,966,000 after buying an additional 247,205 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Box by 18.8% in the second quarter. Vanguard Group Inc. now owns 2,496,539 shares of the company’s stock worth $25,814,000 after buying an additional 395,010 shares in the last quarter. BlackRock Fund Advisors raised its stake in shares of Box by 266.2% in the second quarter. BlackRock Fund Advisors now owns 1,151,475 shares of the company’s stock worth $11,906,000 after buying an additional 837,075 shares in the last quarter. Finally, BlackRock Institutional Trust Company N.A. raised its stake in shares of Box by 50.1% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 1,122,049 shares of the company’s stock worth $11,602,000 after buying an additional 374,654 shares in the last quarter. 27.08% of the stock is owned by institutional investors and hedge funds.
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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