Stifel Nicolaus Reaffirms “Hold” Rating for Box, Inc. (BOX)
Box, Inc. (NYSE:BOX)‘s stock had its “hold” rating restated by analysts at Stifel Nicolaus in a report released on Wednesday. They presently have a $17.00 target price on the software maker’s stock. Stifel Nicolaus’ target price would indicate a potential downside of 8.65% from the company’s current price.
BOX has been the topic of several other research reports. Drexel Hamilton reaffirmed a “buy” rating and issued a $28.00 price objective (up previously from $26.00) on shares of Box in a research note on Thursday, June 1st. Canaccord Genuity reaffirmed a “buy” rating and issued a $24.00 price objective (up previously from $22.00) on shares of Box in a research note on Thursday, June 1st. Bank of America Corporation reaffirmed a “buy” rating and issued a $22.00 price objective (up previously from $21.00) on shares of Box in a research note on Friday, June 2nd. Rosenblatt Securities reaffirmed a “buy” rating and issued a $25.00 price objective on shares of Box in a research note on Monday, July 17th. Finally, Pacific Crest reaffirmed an “overweight” rating and issued a $25.00 price objective on shares of Box in a research note on Wednesday, May 31st. Seven analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $22.24.
Shares of Box (BOX) traded up 1.24% during mid-day trading on Wednesday, hitting $18.84. 719,320 shares of the company’s stock traded hands. Box has a 1-year low of $12.26 and a 1-year high of $20.91. The stock’s market cap is $2.48 billion. The stock has a 50 day moving average price of $18.82 and a 200-day moving average price of $17.95.
Box (NYSE:BOX) last announced its quarterly earnings data on Wednesday, May 31st. The software maker reported ($0.13) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.14) by $0.01. The company had revenue of $117.20 million for the quarter, compared to analysts’ expectations of $114.70 million. Box had a negative net margin of 36.01% and a negative return on equity of 187.98%. The business’s revenue was up 29.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.18) EPS. Equities research analysts anticipate that Box will post ($0.46) EPS for the current fiscal year.
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In related news, Director Rory O’driscoll sold 671,186 shares of the firm’s stock in a transaction that occurred on Thursday, June 15th. The shares were sold at an average price of $18.48, for a total transaction of $12,403,517.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, COO Daniel J. Levin sold 40,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 15th. The stock was sold at an average price of $18.28, for a total transaction of $731,200.00. Following the sale, the chief operating officer now owns 3,752 shares of the company’s stock, valued at $68,586.56. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,728,934 shares of company stock valued at $32,328,266. 20.59% of the stock is currently owned by corporate insiders.
Several hedge funds have recently bought and sold shares of BOX. Ameritas Investment Partners Inc. boosted its stake in Box by 81.3% in the second quarter. Ameritas Investment Partners Inc. now owns 6,896 shares of the software maker’s stock valued at $126,000 after buying an additional 3,092 shares in the last quarter. Advisory Services Network LLC bought a new stake in Box during the first quarter valued at approximately $142,000. Hillsdale Investment Management Inc. bought a new stake in Box during the second quarter valued at approximately $155,000. Two Sigma Securities LLC bought a new stake in Box during the first quarter valued at approximately $177,000. Finally, BNP Paribas Arbitrage SA boosted its stake in Box by 843.7% in the second quarter. BNP Paribas Arbitrage SA now owns 9,786 shares of the software maker’s stock valued at $178,000 after buying an additional 8,749 shares in the last quarter. Institutional investors and hedge funds own 36.59% of the company’s stock.
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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