Box’s (BOX) “Buy” Rating Reaffirmed at JMP Securities
Box Inc. (NYSE:BOX)‘s stock had its “buy” rating reissued by equities researchers at JMP Securities in a report released on Monday.
Several other equities analysts have also commented on the stock. Vetr raised shares of Box from a “hold” rating to a “strong-buy” rating and set a $16.50 target price on the stock in a report on Monday, September 5th. Zacks Investment Research lowered shares of Box from a “hold” rating to a “strong sell” rating in a report on Tuesday, August 16th. Bank of America Corp. reissued a “buy” rating and issued a $18.00 target price on shares of Box in a report on Monday, August 22nd. Veritas Investment Research reissued a “strong-buy” rating on shares of Box in a report on Friday, August 5th. Finally, Pacific Crest reissued a “buy” rating and issued a $21.00 target price on shares of Box in a report on Friday, September 30th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $17.95.
Box (NYSE:BOX) traded up 0.26% during midday trading on Monday, hitting $15.36. 420,562 shares of the company were exchanged. Box has a one year low of $8.82 and a one year high of $16.59. The firm’s 50-day moving average price is $14.96 and its 200-day moving average price is $12.91. The stock’s market capitalization is $1.95 billion.
Box (NYSE:BOX) last released its earnings results on Wednesday, August 31st. The company reported ($0.14) EPS for the quarter, beating the consensus estimate of ($0.19) by $0.05. Box had a negative net margin of 52.12% and a negative return on equity of 133.73%. The firm had revenue of $95.70 million for the quarter, compared to analyst estimates of $94.65 million. During the same period last year, the firm earned ($0.28) EPS. The business’s quarterly revenue was up 30.2% compared to the same quarter last year. Equities research analysts anticipate that Box will post ($0.68) earnings per share for the current year.
In other news, COO Daniel J. Levin sold 5,000 shares of Box stock in a transaction on Tuesday, September 6th. The shares were sold at an average price of $14.35, for a total value of $71,750.00. Following the completion of the sale, the chief operating officer now owns 3,079 shares in the company, valued at approximately $44,183.65. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Jeff Mannie sold 3,756 shares of Box stock in a transaction on Monday, September 26th. The shares were 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. 22.30% of the stock is currently owned by insiders.
Several hedge funds have recently added to or reduced their stakes in BOX. Bares Capital Management Inc. raised its stake in 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 in the last quarter. Coatue Management LLC raised its stake in Box by 6.5% in the second quarter. Coatue Management LLC now owns 4,058,589 shares of the company’s stock valued at $41,966,000 after buying an additional 247,205 shares in the last quarter. Vanguard Group Inc. raised its stake in Box by 18.8% in the second quarter. Vanguard Group Inc. now owns 2,496,539 shares of the company’s stock valued at $25,814,000 after buying an additional 395,010 shares in the last quarter. First Trust Advisors LP bought a new stake in Box during the third quarter valued at $31,536,000. Finally, UBS Oconnor LLC raised its stake in Box by 10.1% in the third quarter. UBS Oconnor LLC now owns 1,729,140 shares of the company’s stock valued at $27,251,000 after buying an additional 159,070 shares in the last quarter. Institutional investors own 29.31% 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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