Box Inc. (BOX) Stock Rating Upgraded by Vetr Inc.
Box Inc. (NYSE:BOX) was upgraded by stock analysts at Vetr from a “buy” rating to a “strong-buy” rating in a research report issued to clients and investors on Tuesday. The firm currently has a $17.24 price target on the stock. Vetr‘s price target would suggest a potential upside of 13.20% from the stock’s previous close.
Other research analysts have also recently issued reports about the company. Zacks Investment Research cut Box from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 2nd. Mitsubishi UFJ Financial Group began coverage on Box in a research report on Friday, September 16th. They set a “neutral” rating and a $15.00 price objective for the company. Stifel Nicolaus reaffirmed a “hold” rating on shares of Box in a research report on Thursday, September 1st. KeyCorp reaffirmed an “overweight” rating and set a $21.00 price objective on shares of Box in a research report on Saturday, September 10th. Finally, Oppenheimer Holdings Inc. reaffirmed an “outperform” rating and set a $18.00 price objective on shares of Box in a research report on Monday, August 15th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the company. Box currently has an average rating of “Buy” and an average target price of $17.95.
Box (NYSE:BOX) traded down 2.68% on Tuesday, reaching $15.23. The company had a trading volume of 952,956 shares. Box has a 1-year low of $8.82 and a 1-year high of $16.59. The stock’s market capitalization is $1.93 billion. The stock’s 50 day moving average is $14.59 and its 200-day moving average is $12.49.
Box (NYSE:BOX) last released its earnings results on Wednesday, August 31st. The company reported ($0.14) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.19) by $0.05. Box had a negative return on equity of 133.73% and a negative net margin of 52.12%. The firm earned $95.70 million during the quarter, compared to analysts’ expectations of $94.65 million. During the same period in the previous year, the firm posted ($0.28) EPS. Box’s revenue for the quarter was up 30.2% on a year-over-year basis. On average, equities analysts predict that Box will post ($0.68) EPS for the current fiscal year.
In other Box news, COO Daniel J. Levin sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 4th. The stock was sold at an average price of $16.38, for a total transaction of $81,900.00. Following the transaction, the chief operating officer now owns 3,752 shares in the company, valued at approximately $61,457.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Jeff Mannie sold 3,756 shares of the business’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 value of $55,100.52. The disclosure for this sale can be found here. Company insiders own 22.30% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the company. State Street Corp boosted its position in Box by 10.7% in the first quarter. State Street Corp now owns 231,330 shares of the company’s stock valued at $2,836,000 after buying an additional 22,315 shares during the last quarter. UBS Group AG boosted its position in Box by 47.4% in the first quarter. UBS Group AG now owns 119,870 shares of the company’s stock valued at $1,470,000 after buying an additional 38,558 shares during the last quarter. Royal Bank of Canada boosted its position in 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 last quarter. Carl Domino Inc boosted its stake in Box by 33.3% in the second quarter. Carl Domino Inc now owns 24,000 shares of the company’s stock worth $248,000 after buying an additional 6,000 shares in the last quarter. Finally, Marcus Capital LLC boosted its stake in Box by 0.6% in the second quarter. Marcus Capital LLC now owns 118,200 shares of the company’s stock worth $1,222,000 after buying an additional 700 shares in the last quarter. Institutional investors own 26.87% of the company’s stock.
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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