Box’s (BOX) Buy Rating Reaffirmed at Pacific Crest
Several other brokerages have also recently commented on BOX. Oppenheimer Holdings Inc. reiterated an outperform rating and issued a $18.00 price target on shares of Box in a research report on Monday, August 15th. Bank of America Corp. reiterated a buy rating and issued a $18.00 price target on shares of Box in a research report on Monday, August 22nd. Vetr cut shares of Box from a buy rating to a hold rating and set a $11.67 price target on the stock. in a research report on Thursday, July 28th. Zacks Investment Research upgraded shares of Box from a hold rating to a buy rating and set a $13.00 price target on the stock in a research report on Tuesday, June 7th. Finally, Mitsubishi UFJ Financial Group initiated coverage on shares of Box in a research report on Friday, September 16th. They issued a neutral rating and a $15.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. Box has an average rating of Buy and an average price target of $17.90.
Box (NYSE:BOX) opened at 15.76 on Friday. Box has a 12-month low of $8.82 and a 12-month high of $15.85. The company has a 50-day moving average of $13.96 and a 200 day moving average of $12.32. The stock’s market cap is $2.00 billion.
Box (NYSE:BOX) last issued its quarterly earnings results on Wednesday, August 31st. The company reported ($0.14) 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 firm had revenue of $95.70 million for the quarter, compared to analysts’ expectations of $94.65 million. During the same period in the previous year, the business earned ($0.28) earnings per share. Box’s revenue for the quarter was up 30.2% compared to the same quarter last year. Equities analysts anticipate that Box will post ($0.68) earnings per share for the current year.
In other Box news, COO Daniel J. Levin sold 5,000 shares of Box stock in a transaction dated Tuesday, September 27th. The stock was sold at an average price of $14.72, for a total transaction of $73,600.00. Following the transaction, the chief operating officer now owns 3,752 shares of the company’s stock, valued at approximately $55,229.44. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Jeff Mannie sold 3,756 shares of Box stock in a transaction dated Monday, September 26th. The shares were sold at an average price of $14.67, for a total value of $55,100.52. The disclosure for this sale can be found here. Company insiders own 22.30% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in BOX. Bares Capital Management Inc. boosted its position in Box by 48.6% in the second quarter. Bares Capital Management Inc. now owns 5,136,447 shares of the company’s stock valued at $53,111,000 after buying an additional 1,680,699 shares during the period. BlackRock Fund Advisors boosted its position in Box by 266.2% in the second quarter. BlackRock Fund Advisors now owns 1,151,475 shares of the company’s stock valued at $11,906,000 after buying an additional 837,075 shares during the period. Polar Capital LLP boosted its position in Box by 882.4% in the second quarter. Polar Capital LLP now owns 605,745 shares of the company’s stock valued at $6,257,000 after buying an additional 544,085 shares during the period. State Street Corp boosted its position in Box by 219.3% in the second quarter. State Street Corp now owns 738,667 shares of the company’s stock valued at $7,636,000 after buying an additional 507,337 shares during the period. Finally, Vanguard Group Inc. boosted its position in Box by 18.8% in the second quarter. Vanguard Group Inc. now owns 2,496,539 shares of the company’s stock valued at $25,814,000 after buying an additional 395,010 shares during the period. 26.87% of the stock is currently owned by institutional investors.
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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