Box Inc. (BOX) Rating Lowered to Buy at Vetr Inc.
Box Inc. (NYSE:BOX) was downgraded by equities researchers at Vetr from a “strong-buy” rating to a “buy” rating in a report issued on Wednesday. They currently have a $16.45 price objective on the stock. Vetr‘s price objective suggests a potential upside of 8.15% from the stock’s previous close.
Several other equities research analysts have also issued reports on the stock. Rosenblatt Securities assumed coverage on shares of Box in a report on Monday. They set a “buy” rating and a $25.00 target price for the company. Credit Suisse Group AG reaffirmed a “neutral” rating on shares of Box in a report on Monday, September 19th. Drexel Hamilton reaffirmed a “buy” rating and set a $18.00 target price on shares of Box in a report on Friday, September 16th. Mitsubishi UFJ Financial Group assumed coverage on shares of Box in a report on Friday, September 16th. They set a “neutral” rating and a $15.00 target price for the company. Finally, Zacks Investment Research raised shares of Box from a “hold” rating to a “buy” rating and set a $16.00 target price for the company in a report on Tuesday, September 13th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $17.90.
Shares of Box (NYSE:BOX) opened at 15.21 on Wednesday. Box has a 12 month low of $8.82 and a 12 month high of $15.56. The stock’s market capitalization is $1.93 billion. The stock’s 50 day moving average price is $13.86 and its 200-day moving average price is $12.29.
Box (NYSE:BOX) last issued its quarterly earnings data on Wednesday, August 31st. The company reported ($0.14) EPS for the quarter, topping analysts’ consensus estimates of ($0.19) by $0.05. Box had a negative net margin of 52.12% and a negative return on equity of 133.73%. The business had revenue of $95.70 million for the quarter, compared to analyst estimates of $94.65 million. During the same period last year, the business posted ($0.28) earnings per share. The firm’s quarterly revenue was up 30.2% on a year-over-year basis. Equities analysts forecast that Box will post ($0.68) earnings per share for the current fiscal year.
In other news, COO Daniel J. Levin sold 5,000 shares of the company’s stock in a transaction on Tuesday, September 13th. The shares were sold at an average price of $14.44, for a total value of $72,200.00. Following the sale, the chief operating officer now directly owns 3,079 shares of the company’s stock, valued at approximately $44,460.76. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP Jeff Mannie sold 3,756 shares of the company’s stock in a transaction on Monday, September 26th. The shares were sold at an average price of $14.67, for a total transaction of $55,100.52. The disclosure for this sale can be found here. 22.30% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of BOX. Oppenheimer & Co. Inc. acquired a new position in Box during the second quarter worth $192,000. UBS Group AG raised its position in Box by 47.4% in the first quarter. UBS Group AG now owns 119,870 shares of the company’s stock worth $1,470,000 after buying an additional 38,558 shares during the period. California State Teachers Retirement System raised its position in Box by 268.5% in the second quarter. California State Teachers Retirement System now owns 102,363 shares of the company’s stock worth $1,058,000 after buying an additional 74,585 shares during the period. Dynamic Technology Lab Private Ltd acquired a new position in Box during the second quarter worth $535,000. Finally, Oxford Asset Management raised its position in Box by 275.5% in the second quarter. Oxford Asset Management now owns 43,535 shares of the company’s stock worth $450,000 after buying an additional 31,941 shares during the period. 26.87% of the stock is currently owned by institutional investors and hedge funds.
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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