BOX (BOX) Rating Reiterated by Canaccord Genuity
BOX (NYSE:BOX)‘s stock had its “buy” rating reissued by Canaccord Genuity in a note issued to investors on Thursday. They presently have a $25.00 price target on the software maker’s stock. Canaccord Genuity’s price objective would indicate a potential upside of 19.67% from the stock’s previous close.
Several other equities research analysts have also issued reports on BOX. Stifel Nicolaus reissued a “hold” rating and set a $17.00 price objective on shares of BOX in a research note on Wednesday, August 16th. BidaskClub raised BOX from a “hold” rating to a “buy” rating in a research note on Wednesday, August 23rd. Drexel Hamilton reissued a “buy” rating and set a $28.00 price objective on shares of BOX in a research note on Monday, August 28th. Mitsubishi UFJ Financial Group raised BOX to an “overweight” rating and lifted their price objective for the company from $23.00 to $24.00 in a research note on Thursday, August 31st. Finally, Rosenblatt Securities reissued a “buy” rating and set a $25.00 price objective on shares of BOX in a research note on Friday, September 1st. Three research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the stock. BOX currently has a consensus rating of “Buy” and an average target price of $24.24.
BOX (BOX) opened at $20.89 on Thursday. BOX has a 52-week low of $13.56 and a 52-week high of $24.10. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 1.58.
BOX (NYSE:BOX) last posted its quarterly earnings data on Wednesday, November 29th. The software maker reported ($0.13) earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.13). The company had revenue of $129.30 million during the quarter, compared to analyst estimates of $128.67 million. BOX had a negative return on equity of 270.51% and a negative net margin of 33.20%. The firm’s quarterly revenue was up 25.8% on a year-over-year basis. During the same quarter last year, the company earned ($0.14) earnings per share. equities research analysts predict that BOX will post -1.15 EPS for the current fiscal year.
In other BOX news, President Daniel J. Levin sold 57,444 shares of BOX stock in a transaction dated Tuesday, September 5th. The stock was sold at an average price of $18.43, for a total transaction of $1,058,692.92. Following the completion of the sale, the president now owns 3,752 shares of the company’s stock, valued at $69,149.36. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Peter M. Mcgoff sold 80,000 shares of BOX stock in a transaction dated Tuesday, September 12th. The stock was sold at an average price of $18.52, for a total value of $1,481,600.00. Following the sale, the senior vice president now directly owns 286,135 shares of the company’s stock, valued at approximately $5,299,220.20. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 969,534 shares of company stock valued at $18,204,431. Corporate insiders own 22.30% of the company’s stock.
A number of hedge funds have recently modified their holdings of BOX. Ameritas Investment Partners Inc. lifted its stake in BOX by 81.3% during the second quarter. Ameritas Investment Partners Inc. now owns 6,896 shares of the software maker’s stock worth $126,000 after purchasing an additional 3,092 shares during the last quarter. Hillsdale Investment Management Inc. bought a new stake in shares of BOX in the 2nd quarter valued at about $155,000. BNP Paribas Arbitrage SA lifted its stake in shares of BOX by 843.7% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 9,786 shares of the software maker’s stock valued at $178,000 after acquiring an additional 8,749 shares during the last quarter. StepStone Group LP bought a new stake in shares of BOX in the 2nd quarter valued at about $180,000. Finally, Amalgamated Bank bought a new stake in shares of BOX in the 2nd quarter valued at about $183,000. 63.44% of the stock is owned by hedge funds and other institutional investors.
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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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