BOX’s (BOX) Buy Rating Reaffirmed at DA Davidson

BOX (NYSE:BOX)‘s stock had its “buy” rating reaffirmed by investment analysts at DA Davidson in a research report issued on Friday,Benzinga reports. They presently have a $45.00 target price on the software maker’s stock. DA Davidson’s price objective points to a potential upside of 83.85% from the stock’s current price.

A number of other equities analysts have also recently commented on the company. Wall Street Zen raised BOX from a “hold” rating to a “strong-buy” rating in a report on Saturday, March 14th. Citigroup reduced their price target on shares of BOX from $40.00 to $36.00 and set a “buy” rating on the stock in a report on Wednesday, March 4th. UBS Group decreased their price objective on BOX from $31.00 to $28.00 and set a “hold” rating on the stock in a report on Wednesday, March 4th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of BOX in a report on Monday, December 29th. Finally, Morgan Stanley dropped their price objective on shares of BOX from $38.00 to $33.00 and set an “equal weight” rating for the company in a research note on Thursday, March 12th. Four research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, BOX currently has a consensus rating of “Hold” and a consensus target price of $35.57.

BOX Stock Performance

Shares of BOX stock traded up $0.62 during trading hours on Friday, reaching $24.48. The company had a trading volume of 820,325 shares, compared to its average volume of 2,695,410. BOX has a one year low of $21.61 and a one year high of $38.80. The firm has a market cap of $3.51 billion, a PE ratio of 41.42, a price-to-earnings-growth ratio of 1.27 and a beta of 0.80. The business has a fifty day moving average price of $24.95 and a 200-day moving average price of $29.21.

BOX (NYSE:BOX) last announced its earnings results on Tuesday, March 3rd. The software maker reported $0.49 earnings per share for the quarter, beating analysts’ consensus estimates of $0.33 by $0.16. The business had revenue of $305.88 million during the quarter, compared to analyst estimates of $305.64 million. BOX had a net margin of 9.80% and a negative return on equity of 23.61%. The company’s quarterly revenue was up 9.4% compared to the same quarter last year. During the same period in the previous year, the business earned $0.42 EPS. Equities research analysts forecast that BOX will post 0.27 EPS for the current year.

BOX announced that its Board of Directors has authorized a stock repurchase program on Thursday, March 19th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the software maker to buy up to 14.2% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board believes its shares are undervalued.

Insiders Place Their Bets

In other news, CFO Dylan C. Smith sold 17,000 shares of the firm’s stock in a transaction dated Tuesday, March 10th. The shares were sold at an average price of $24.72, for a total value of $420,240.00. Following the sale, the chief financial officer directly owned 1,294,195 shares in the company, valued at approximately $31,992,500.40. This trade represents a 1.30% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Olivia Nottebohm sold 4,612 shares of BOX stock in a transaction on Friday, March 6th. The stock was sold at an average price of $25.78, for a total transaction of $118,897.36. Following the completion of the transaction, the chief operating officer directly owned 465,219 shares in the company, valued at $11,993,345.82. This represents a 0.98% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 79,836 shares of company stock worth $2,091,096 over the last 90 days. Company insiders own 3.90% of the company’s stock.

Institutional Investors Weigh In On BOX

A number of large investors have recently modified their holdings of the business. Woodline Partners LP boosted its position in BOX by 16.4% in the first quarter. Woodline Partners LP now owns 17,800 shares of the software maker’s stock valued at $549,000 after buying an additional 2,506 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in BOX by 7.4% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 477,822 shares of the software maker’s stock valued at $14,746,000 after acquiring an additional 32,726 shares during the period. Geneos Wealth Management Inc. acquired a new stake in BOX during the 1st quarter valued at approximately $31,000. Sivia Capital Partners LLC purchased a new stake in shares of BOX in the 2nd quarter valued at $484,000. Finally, Geode Capital Management LLC boosted its holdings in shares of BOX by 1.0% in the 2nd quarter. Geode Capital Management LLC now owns 3,346,923 shares of the software maker’s stock valued at $114,379,000 after acquiring an additional 32,884 shares during the last quarter. Hedge funds and other institutional investors own 86.74% of the company’s stock.

BOX Company Profile

Box, Inc is a leading provider of cloud content management and file sharing solutions designed to support enterprises in securely managing, accessing and collaborating on digital content from anywhere. The company offers a unified platform that enables organizations to store, share and automate workflows across various departments, enhancing productivity and ensuring governance over sensitive information. Box’s services are tailored to meet the needs of industries such as healthcare, financial services, government and media, where compliance and data security are paramount.

The core offerings of Box include its Content Cloud platform, which provides content collaboration, workflow automation, data classification and secure file sharing.