Box Inc. (BOX) Rating Lowered to Buy at Vetr Inc.
Box Inc. (NYSE:BOX) was downgraded by analysts at Vetr from a “strong-buy” rating to a “buy” rating in a report released on Monday. They currently have a $16.45 price target on the stock. Vetr‘s price objective points to a potential upside of 12.98% from the stock’s previous close.
Several other research analysts also recently issued reports on BOX. Pacific Crest restated a “buy” rating on shares of Box in a report on Sunday, May 22nd. JPMorgan Chase & Co. downgraded shares of Box from an “overweight” rating to a “neutral” rating and dropped their price objective for the stock from $18.00 to $14.00 in a report on Thursday, June 2nd. Canaccord Genuity dropped their price objective on shares of Box from $18.00 to $16.00 and set a “buy” rating on the stock in a report on Thursday, June 2nd. Oppenheimer Holdings Inc. restated a “buy” rating and set a $18.00 price objective (down previously from $21.00) on shares of Box in a report on Thursday, June 2nd. Finally, JMP Securities restated a “buy” rating on shares of Box in a report on Thursday, June 2nd. One research analyst has rated the stock with a sell rating, five have issued a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $17.39.
Box (NYSE:BOX) opened at 14.56 on Monday. Box has a 1-year low of $8.82 and a 1-year high of $14.93. The company’s 50 day moving average is $13.31 and its 200-day moving average is $12.17. The firm’s market cap is $1.85 billion.
Box (NYSE:BOX) last posted its quarterly earnings data on Wednesday, August 31st. The company reported ($0.14) earnings per share (EPS) for the quarter, topping the consensus estimate 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 company had revenue of $95.70 million for 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 business’s revenue was up 30.2% compared to the same quarter last year. On average, analysts predict that Box will post ($0.68) EPS for the current fiscal year.
In other Box news, COO Daniel J. Levin sold 5,000 shares of the business’s stock in a transaction dated Tuesday, September 13th. The shares were sold at an average price of $14.44, for a total value of $72,200.00. Following the transaction, the chief operating officer now directly owns 3,079 shares in the company, valued at $44,460.76. The transaction was disclosed in a document filed with the SEC, which is available through this link. 22.30% of the stock is currently owned by company insiders.
A number of institutional investors have recently added to or reduced their stakes in the stock. Parametric Portfolio Associates LLC purchased a new position in Box during the second quarter worth approximately $108,000. BlackRock Group LTD raised its position in Box by 78.3% in the first quarter. BlackRock Group LTD now owns 9,725 shares of the company’s stock worth $119,000 after buying an additional 4,270 shares during the period. Squarepoint Ops LLC purchased a new position in Box during the first quarter worth approximately $126,000. Capstone Investment Advisors LLC purchased a new position in Box during the second quarter worth approximately $129,000. Finally, Royal Bank of Canada raised its position in Box by 83.0% in the first quarter. Royal Bank of Canada now owns 10,986 shares of the company’s stock worth $134,000 after buying an additional 4,983 shares during the period. 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.
To view Vetr’s full report, visit Vetr’s official website.
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