Box Inc. (BOX) Rating Increased to Strong-Buy at Vetr Inc.
Box Inc. (NYSE:BOX) was upgraded by equities research analysts at Vetr from a “buy” rating to a “strong-buy” rating in a research note issued on Thursday. The brokerage currently has a $17.18 price objective on the stock. Vetr‘s target price suggests a potential upside of 12.14% from the stock’s current price.
A number of other analysts have also issued reports on the company. Zacks Investment Research lowered Box from a “hold” rating to a “strong sell” rating in a report on Tuesday, August 16th. Bank of America Corp. reaffirmed a “buy” rating and issued a $18.00 target price on shares of Box in a report on Monday, August 22nd. Veritas Investment Research reiterated a “strong-buy” rating on shares of Box in a research report on Friday, August 5th. Pacific Crest reiterated a “buy” rating and issued a $21.00 price objective on shares of Box in a research report on Friday, September 30th. Finally, Oppenheimer Holdings Inc. reiterated an “outperform” rating and issued a $18.00 price objective on shares of Box in a research report on Monday, August 15th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the company’s stock. Box has an average rating of “Buy” and a consensus target price of $17.95.
Box (NYSE:BOX) opened at 15.32 on Thursday. The company’s 50-day moving average price is $14.94 and its 200-day moving average price is $12.84. Box has a 52 week low of $8.82 and a 52 week high of $16.59. The company’s market capitalization is $1.94 billion.
Box (NYSE:BOX) last released its earnings results on Wednesday, August 31st. The company reported ($0.14) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.19) by $0.05. The firm had revenue of $95.70 million for the quarter, compared to analyst estimates of $94.65 million. Box had a negative return on equity of 133.73% and a negative net margin of 52.12%. The company’s revenue was up 30.2% on a year-over-year basis. During the same quarter last year, the firm posted ($0.28) EPS. On average, equities analysts forecast that Box will post ($0.68) EPS for the current fiscal year.
In related news, COO Daniel J. Levin sold 5,000 shares of Box stock in a transaction on 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 sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Jeff Mannie sold 3,756 shares of Box stock in a transaction 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. Corporate insiders own 22.30% of the company’s stock.
Several large investors have recently made changes to their positions in BOX. BlackRock Investment Management LLC boosted its stake in shares of Box by 0.3% in the third quarter. BlackRock Investment Management LLC now owns 180,781 shares of the company’s stock worth $2,849,000 after buying an additional 506 shares during the period. BlackRock Group LTD boosted its stake in shares of Box by 6.3% in the third quarter. BlackRock Group LTD now owns 10,127 shares of the company’s stock worth $160,000 after buying an additional 603 shares during the period. Marcus Capital LLC boosted 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 period. California State Teachers Retirement System boosted its stake in shares of Box by 1.0% in the third quarter. California State Teachers Retirement System now owns 103,363 shares of the company’s stock worth $1,629,000 after buying an additional 1,000 shares during the period. Finally, Creative Planning boosted its stake in shares of Box by 2.3% in the third quarter. Creative Planning now owns 45,061 shares of the company’s stock worth $710,000 after buying an additional 1,020 shares during the period. 28.72% of the stock is 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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