Pacific Crest Reaffirms Buy Rating for Box Inc. (BOX)
Box Inc. (NYSE:BOX)‘s stock had its “buy” rating reaffirmed by Pacific Crest in a note issued to investors on Friday. They currently have a $21.00 price target on the stock. Pacific Crest’s price objective indicates a potential upside of 38.07% from the company’s current price.
Several other research firms have also issued reports on BOX. Oppenheimer Holdings Inc. restated an “outperform” rating and set a $18.00 price target on shares of Box in a report on Monday, August 15th. Bank of America Corp. restated a “buy” rating and set a $18.00 price target on shares of Box in a report on Monday, August 22nd. Vetr lowered shares of Box from a “buy” rating to a “hold” rating and set a $11.67 price target for the company. in a report on Thursday, July 28th. Zacks Investment Research upgraded shares of Box from a “hold” rating to a “buy” rating and set a $13.00 price target for the company in a report on Tuesday, June 7th. Finally, Mitsubishi UFJ Financial Group started coverage on shares of Box in a report on Friday, September 16th. They set a “neutral” rating and a $15.00 price target for the company. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. Box has a consensus rating of “Buy” and a consensus price target of $17.90.
Shares of Box (NYSE:BOX) traded up 2.400% during mid-day trading on Friday, hitting $15.575. 384,916 shares of the stock were exchanged. The stock’s 50 day moving average price is $13.86 and its 200-day moving average price is $12.29. Box has a 12-month low of $8.82 and a 12-month high of $15.62. The stock’s market capitalization is $1.97 billion.
Box (NYSE:BOX) last issued its quarterly earnings data on Wednesday, August 31st. The company reported ($0.14) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.19) by $0.05. The business earned $95.70 million during the quarter, compared to analyst estimates of $94.65 million. Box had a negative net margin of 52.12% and a negative return on equity of 133.73%. The firm’s quarterly revenue was up 30.2% on a year-over-year basis. During the same quarter last year, the business earned ($0.28) EPS. On average, equities research analysts expect that Box will post ($0.68) EPS for the current fiscal year.
In other news, COO Daniel J. Levin sold 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 6th. The shares were sold at an average price of $14.35, for a total transaction of $71,750.00. Following the completion of the sale, the chief operating officer now owns 3,079 shares of the company’s stock, valued at approximately $44,183.65. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Jeff Mannie sold 3,756 shares of the firm’s stock in a transaction that occurred on Monday, September 26th. The stock was 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. Insiders own 22.30% of the company’s stock.
Several hedge funds have recently made changes to their positions in BOX. Marcus Capital LLC increased its stake in shares of Box by 0.3% in the first quarter. Marcus Capital LLC now owns 117,500 shares of the company’s stock valued at $1,441,000 after buying an additional 300 shares during the period. Quantbot Technologies LP increased its stake in shares of Box by 11.7% in the second quarter. Quantbot Technologies LP now owns 17,786 shares of the company’s stock valued at $183,000 after buying an additional 1,860 shares during the period. Royal Bank of Canada increased its stake in shares of Box by 83.0% in the first quarter. Royal Bank of Canada now owns 10,986 shares of the company’s stock valued at $134,000 after buying an additional 4,983 shares during the period. Carl Domino Inc increased its stake in shares of Box by 33.3% in the second quarter. Carl Domino Inc now owns 24,000 shares of the company’s stock valued at $248,000 after buying an additional 6,000 shares during the period. Finally, Parametric Portfolio Associates LLC bought a new stake in shares of Box during the second quarter valued at approximately $108,000. 26.87% of the stock is owned by institutional investors.
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.
Receive News & Stock Ratings for Box Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Box Inc. and related stocks with our FREE daily email newsletter.