Box, Inc. (BOX) Receives $22.83 Consensus Target Price from Brokerages
Shares of Box, Inc. (NYSE:BOX) have received a consensus recommendation of “Buy” from the eighteen research firms that are presently covering the stock, MarketBeat.com reports. Five investment analysts have rated the stock with a hold recommendation and thirteen have assigned a buy recommendation to the company. The average 1 year price objective among brokers that have covered the stock in the last year is $22.83.
BOX has been the subject of several analyst reports. BidaskClub raised Box from a “hold” rating to a “buy” rating in a report on Wednesday, August 23rd. Wells Fargo & Company reaffirmed an “outperform” rating and set a $27.00 target price (up from $24.00) on shares of Box in a report on Thursday, June 1st. Morgan Stanley reaffirmed an “equal weight” rating and set a $20.00 target price (up from $19.00) on shares of Box in a report on Thursday, June 1st. Mitsubishi UFJ Financial Group raised Box from a “neutral” rating to an “overweight” rating and upped their target price for the company from $17.50 to $23.00 in a report on Thursday, June 1st. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $25.00 target price on shares of Box in a report on Friday, September 1st.
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Box (NYSE:BOX) traded down 2.41% during mid-day trading on Friday, reaching $17.84. The company had a trading volume of 1,649,582 shares. Box has a 12 month low of $13.56 and a 12 month high of $18.81. The stock’s 50-day moving average is $18.44 and its 200 day moving average is $18.44. The firm’s market capitalization is $2.37 billion.
Box (NYSE:BOX) last announced its earnings results on Wednesday, August 30th. The software maker reported ($0.11) EPS for the quarter, beating the consensus estimate of ($0.13) by $0.02. Box had a negative return on equity of 232.81% and a negative net margin of 34.11%. The business had revenue of $122.94 million during the quarter, compared to the consensus estimate of $121.75 million. During the same period in the prior year, the business posted ($0.14) earnings per share. Box’s revenue was up 28.4% compared to the same quarter last year. On average, analysts predict that Box will post ($0.45) earnings per share for the current fiscal year.
In other news, COO Daniel J. Levin sold 40,000 shares of the company’s stock in a transaction dated Monday, July 17th. The stock was sold at an average price of $18.93, for a total transaction of $757,200.00. Following the completion of the sale, the chief operating officer now owns 3,752 shares in the company, valued at approximately $71,025.36. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, major shareholder Fisher Jurvetson Fund V. Draper sold 320,000 shares of the company’s stock in a transaction dated Wednesday, July 5th. The stock was sold at an average price of $18.07, for a total value of $5,782,400.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,428,258 shares of company stock worth $26,767,187. Insiders own 20.59% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in BOX. Ameritas Investment Partners Inc. boosted its stake in shares of Box by 81.3% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 6,896 shares of the software maker’s stock worth $126,000 after acquiring an additional 3,092 shares in the last quarter. Hillsdale Investment Management Inc. bought a new stake in shares of Box during the 2nd quarter worth about $155,000. Two Sigma Securities LLC bought a new stake in shares of Box during the 1st quarter worth about $177,000. BNP Paribas Arbitrage SA boosted its stake in shares of Box by 843.7% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 9,786 shares of the software maker’s stock worth $178,000 after acquiring an additional 8,749 shares in the last quarter. Finally, StepStone Group LP bought a new stake in shares of Box during the 2nd quarter worth about $180,000. Institutional investors own 57.40% 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.
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