Box Inc. (BOX) Rating Lowered to Buy at Vetr Inc.
Box Inc. (NYSE:BOX) was downgraded by research analysts at Vetr from a “strong-buy” rating to a “buy” rating in a research report issued to clients and investors on Monday. They presently have a $16.74 price objective on the stock. Vetr‘s price target suggests a potential upside of 11.90% from the company’s previous close.
Several other research firms have also issued reports on BOX. Credit Suisse Group AG restated a “neutral” rating on shares of Box in a report on Monday, September 19th. Oppenheimer Holdings Inc. restated an “outperform” rating and issued a $18.00 target price on shares of Box in a report on Monday, September 5th. Zacks Investment Research upgraded shares of Box from a “sell” rating to a “hold” rating in a report on Thursday, September 1st. KeyCorp restated an “overweight” rating and issued a $21.00 target price on shares of Box in a report on Saturday, September 10th. Finally, Drexel Hamilton restated a “buy” rating and issued a $18.00 target price on shares of Box in a report on Friday, September 16th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $17.92.
Box (NYSE:BOX) opened at 14.96 on Monday. Box has a 1-year low of $8.82 and a 1-year high of $16.59. The firm’s market capitalization is $1.90 billion. The stock’s 50 day moving average is $14.95 and its 200-day moving average is $12.86.
Box (NYSE:BOX) last issued its quarterly earnings results on Wednesday, August 31st. The company reported ($0.14) EPS for the quarter, topping analysts’ consensus estimates of ($0.19) by $0.05. The company had revenue of $95.70 million for 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%. Box’s revenue was up 30.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.28) earnings per share. Analysts forecast that Box will post ($0.68) EPS for the current year.
In other Box news, VP Jeff Mannie sold 3,756 shares of the company’s stock in a transaction dated Monday, September 26th. The shares were sold at an average price of $14.67, for a total value of $55,100.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Daniel J. Levin sold 5,000 shares of the company’s stock in a transaction dated Tuesday, October 11th. The stock was sold at an average price of $15.32, for a total transaction of $76,600.00. Following the completion of the sale, the chief operating officer now directly owns 3,752 shares of the company’s stock, valued at $57,480.64. The disclosure for this sale can be found here. 22.30% of the stock is currently owned by company insiders.
A number of large investors have recently modified their holdings of BOX. UBS Group AG increased its stake in shares of 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 last quarter. 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 worth $248,000 after buying an additional 6,000 shares during the last quarter. Marcus Capital LLC increased its stake in shares of 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 during the last quarter. Stoneridge Investment Partners LLC purchased a new stake in shares of Box during the second quarter worth about $676,000. Finally, Bank of New York Mellon Corp increased its stake in shares of Box by 93.6% in the second quarter. Bank of New York Mellon Corp now owns 158,830 shares of the company’s stock worth $1,642,000 after buying an additional 76,779 shares during the last quarter. 28.72% of the stock is owned by institutional investors and hedge funds.
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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