Credit Suisse Group AG Reaffirms Neutral Rating for Box Inc. (BOX)
A number of other brokerages also recently commented on BOX. Oppenheimer Holdings Inc. reiterated 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. reiterated a buy rating and set a $18.00 price objective on shares of Box in a research report on Monday, August 22nd. Vetr downgraded Box from a buy rating to a hold rating and set a $11.67 price objective on the stock. in a research report on Thursday, July 28th. Zacks Investment Research upgraded Box from a hold rating to a buy rating and set a $13.00 price objective on the stock in a research report on Tuesday, June 7th. Finally, Mitsubishi UFJ Financial Group initiated coverage on Box in a research report on Friday, September 16th. They set a neutral rating and a $15.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of Buy and an average price target of $17.39.
Shares of Box (NYSE:BOX) opened at 14.76 on Monday. The stock’s market capitalization is $1.87 billion. The firm has a 50 day moving average price of $13.40 and a 200 day moving average price of $12.18. Box has a one year low of $8.82 and a one year high of $14.93.
Box (NYSE:BOX) last released its earnings results on Wednesday, August 31st. The company reported ($0.14) earnings per share for the quarter, beating the consensus estimate of ($0.19) by $0.05. The business had revenue of $95.70 million for the quarter, compared to the consensus estimate of $94.65 million. Box had a negative return on equity of 133.73% and a negative net margin of 52.12%. The business’s quarterly revenue was up 30.2% compared to the same quarter last year. During the same quarter last year, the business posted ($0.28) earnings per share. 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 business’s stock in a transaction dated Tuesday, September 13th. The stock was sold at an average price of $14.44, for a total value of $72,200.00. Following the completion of the sale, the chief operating officer now directly owns 3,079 shares of the company’s stock, valued at approximately $44,460.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 22.30% of the stock is owned by insiders.
Several hedge funds have recently bought and sold shares of BOX. Parametric Portfolio Associates LLC purchased a new stake in Box during the second quarter valued at $108,000. BlackRock Group LTD increased its stake in 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 during the last quarter. Squarepoint Ops LLC purchased a new stake in Box during the first quarter valued at $126,000. Capstone Investment Advisors LLC purchased a new stake in Box during the second quarter valued at $129,000. Finally, Royal Bank of Canada increased its stake in 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 during 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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