Box, Inc. (BOX) Given Buy Rating at Oppenheimer Holdings, Inc.
Box, Inc. (NYSE:BOX)‘s stock had its “buy” rating restated by analysts at Oppenheimer Holdings, Inc. in a research note issued on Monday. They currently have a $22.00 price target on the software maker’s stock. Oppenheimer Holdings, Inc.’s price target suggests a potential upside of 8.86% from the company’s previous close.
Several other research firms have also recently commented on BOX. Mitsubishi UFJ Financial Group upgraded Box to an “overweight” rating and boosted their target price for the company from $23.00 to $24.00 in a research note on Thursday, August 31st. Rosenblatt Securities restated a “buy” rating and issued a $25.00 target price on shares of Box in a research note on Friday, September 1st. Drexel Hamilton restated a “buy” rating and issued a $28.00 target price on shares of Box in a research note on Monday, August 28th. BidaskClub upgraded Box from a “hold” rating to a “buy” rating in a research note on Wednesday, August 23rd. Finally, Canaccord Genuity boosted their target price on Box from $24.00 to $25.00 and gave the company a “buy” rating in a research note on Friday. Three equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $23.40.
Box (NYSE BOX) traded down 1.09% during mid-day trading on Monday, hitting $19.99. 2,460,586 shares of the stock were exchanged. The firm has a 50-day moving average price of $18.73 and a 200-day moving average price of $18.73. Box has a 12-month low of $13.56 and a 12-month high of $20.91. The stock’s market capitalization is $2.67 billion.
Box (NYSE:BOX) last released its quarterly earnings data on Wednesday, August 30th. The software maker reported ($0.11) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.13) by $0.02. The business had revenue of $122.94 million for the quarter, compared to analysts’ expectations of $121.75 million. Box had a negative return on equity of 232.81% and a negative net margin of 34.11%. Box’s revenue for the quarter was up 28.4% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.14) EPS. Equities analysts predict that Box will post ($0.45) earnings per share for the current fiscal year.
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In related news, insider Daniel J. Levin sold 50,000 shares of the business’s stock in a transaction that occurred on Thursday, July 27th. The stock was sold at an average price of $20.00, for a total transaction of $1,000,000.00. Following the transaction, the insider now directly owns 3,752 shares of the company’s stock, valued at approximately $75,040. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Rory O’driscoll sold 233,066 shares of the business’s stock in a transaction that occurred on Tuesday, September 19th. The stock was sold at an average price of $18.41, for a total value of $4,290,745.06. The disclosure for this sale can be found here. Insiders have sold a total of 959,534 shares of company stock worth $17,927,031 over the last three months. 20.59% of the stock is owned by insiders.
Several hedge funds have recently bought and sold shares of the stock. Essex Investment Management Co. LLC increased its holdings in shares of Box by 0.8% during the 2nd quarter. Essex Investment Management Co. LLC now owns 75,775 shares of the software maker’s stock worth $1,382,000 after acquiring an additional 628 shares during the last quarter. Capital One National Association increased its holdings in shares of Box by 3.8% during the 2nd quarter. Capital One National Association now owns 25,412 shares of the software maker’s stock worth $464,000 after acquiring an additional 931 shares during the last quarter. American International Group Inc. increased its holdings in shares of Box by 7.1% during the 1st quarter. American International Group Inc. now owns 30,063 shares of the software maker’s stock worth $490,000 after acquiring an additional 1,991 shares during the last quarter. Ameritas Investment Partners Inc. increased its holdings 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 during the last quarter. Finally, Pacific Alternative Asset Management Company LLC increased its holdings in shares of Box by 5.6% during the 2nd quarter. Pacific Alternative Asset Management Company LLC now owns 69,502 shares of the software maker’s stock worth $1,268,000 after acquiring an additional 3,695 shares during the last quarter. 57.37% of the stock is currently owned by institutional investors and hedge funds.
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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