Box Inc. (BOX) Receives Consensus Rating of “Buy” from Analysts
Box Inc. (NYSE:BOX) has received an average rating of “Buy” from the seventeen ratings firms that are covering the firm. One equities research analyst has rated the stock with a sell recommendation, five have given a hold recommendation, nine have issued a buy recommendation and two have issued a strong buy recommendation on the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $17.48.
A number of brokerages have weighed in on BOX. Zacks Investment Research lowered Box from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 1st. Canaccord Genuity restated a “buy” rating and set a $17.00 price objective on shares of Box in a report on Tuesday, September 13th. Stifel Nicolaus restated a “hold” rating and set a $15.00 price objective on shares of Box in a report on Friday, September 9th. Vetr downgraded Box from a “strong-buy” rating to a “buy” rating and set a $16.92 price objective for the company. in a report on Thursday, October 20th. Finally, Oppenheimer Holdings Inc. restated an “outperform” rating and set a $18.00 price objective on shares of Box in a report on Monday, September 5th.
In other news, VP Jeff Mannie sold 3,756 shares of the stock in a transaction dated Monday, September 26th. The shares were sold at an average price of $14.67, for a total transaction of $55,100.52. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, COO Daniel J. Levin sold 5,000 shares of the stock in a transaction dated Tuesday, September 13th. The stock was sold at an average price of $14.44, for a total transaction of $72,200.00. Following the transaction, the chief operating officer now directly owns 3,079 shares in the company, valued at approximately $44,460.76. The disclosure for this sale can be found here. 22.30% of the stock is currently owned by company insiders.
Institutional investors have recently modified their holdings of the company. First Trust Advisors LP bought a new position in shares of Box during the third quarter valued at approximately $31,536,000. Bares Capital Management Inc. boosted its position in shares of Box by 48.6% in the second quarter. Bares Capital Management Inc. now owns 5,136,447 shares of the company’s stock valued at $53,111,000 after buying an additional 1,680,699 shares during the last quarter. BlackRock Fund Advisors boosted its position in shares of Box by 266.2% in the second quarter. BlackRock Fund Advisors now owns 1,151,475 shares of the company’s stock valued at $11,906,000 after buying an additional 837,075 shares during the last quarter. Polar Capital LLP boosted its position in shares of Box by 882.4% in the second quarter. Polar Capital LLP now owns 605,745 shares of the company’s stock valued at $6,257,000 after buying an additional 544,085 shares during the last quarter. Finally, State Street Corp boosted its position in shares of Box by 219.3% in the second quarter. State Street Corp now owns 738,667 shares of the company’s stock valued at $7,636,000 after buying an additional 507,337 shares during the last quarter. 28.72% of the stock is currently owned by institutional investors and hedge funds.
Shares of Box (NYSE:BOX) opened at 15.32 on Tuesday. The firm’s 50-day moving average price is $14.94 and its 200-day moving average price is $12.84. The stock’s market capitalization is $1.94 billion. Box has a one year low of $8.82 and a one year high of $16.59.
Box (NYSE:BOX) last issued its quarterly earnings results on Wednesday, August 31st. The company reported ($0.14) earnings per share for the quarter, topping analysts’ consensus estimates 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 company had revenue of $95.70 million for the quarter, compared to analyst estimates of $94.65 million. During the same quarter in the prior year, the company posted ($0.28) EPS. The business’s revenue for the quarter was up 30.2% compared to the same quarter last year. Equities research analysts anticipate that Box will post ($0.68) EPS for the current fiscal year.
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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