Box Inc. (NYSE:BOX) was downgraded by analysts at Vetr from a “strong-buy” rating to a “buy” rating in a report released on Thursday. They currently have a $17.18 price objective on the stock. Vetr‘s price target would indicate a potential upside of 11.99% from the company’s previous close.

A number of other brokerages have also recently issued reports on BOX. Oppenheimer Holdings Inc. restated an “outperform” rating and set a $18.00 target price on shares of Box in a research report on Monday, August 15th. Bank of America Corp. restated a “buy” rating and set a $18.00 target price on shares of Box in a research report on Monday, August 22nd. Stifel Nicolaus reiterated a “hold” rating and set a $15.00 price target on shares of Box in a report on Monday, October 10th. Mitsubishi UFJ Financial Group started coverage on shares of Box in a report on Friday, September 16th. They set a “neutral” rating and a $15.00 price target for the company. Finally, Zacks Investment Research upgraded shares of Box from a “hold” rating to a “buy” rating and set a $16.00 price target for the company in a report on Tuesday, September 13th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of “Buy” and an average target price of $17.95.

Analyst Recommendations for Box (NYSE:BOX)

Box (NYSE:BOX) opened at 15.34 on Thursday. The stock has a 50 day moving average of $14.84 and a 200 day moving average of $13.01. Box has a one year low of $8.82 and a one year high of $16.59. The firm’s market capitalization is $1.94 billion.

Box (NYSE:BOX) last announced its earnings results on Wednesday, August 31st. The company reported ($0.14) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.19) by $0.05. The company earned $95.70 million during the quarter, compared to analysts’ expectations of $94.65 million. Box had a negative net margin of 52.12% and a negative return on equity of 133.73%. The firm’s quarterly revenue was up 30.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.28) earnings per share. Analysts forecast that Box will post ($0.68) earnings per share for the current year.

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In other news, COO Daniel J. Levin sold 5,000 shares of the business’s stock in a transaction on Tuesday, September 6th. The shares were sold at an average price of $14.35, for a total transaction of $71,750.00. Following the transaction, the chief operating officer now directly owns 3,079 shares of the company’s stock, valued at $44,183.65. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Jeff Mannie sold 3,756 shares of the business’s stock in a transaction on Monday, September 26th. The stock was 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. Company insiders own 22.30% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of BOX. First Trust Advisors LP purchased a new position in Box during the third quarter worth approximately $31,536,000. Bares Capital Management Inc. boosted its position in Box by 48.6% in the second quarter. Bares Capital Management Inc. now owns 5,136,447 shares of the company’s stock worth $53,111,000 after buying an additional 1,680,699 shares during the last quarter. BlackRock Fund Advisors boosted its position in Box by 266.2% in the second quarter. BlackRock Fund Advisors now owns 1,151,475 shares of the company’s stock worth $11,906,000 after buying an additional 837,075 shares during the last quarter. Polar Capital LLP boosted its position in Box by 882.4% in the second quarter. Polar Capital LLP now owns 605,745 shares of the company’s stock worth $6,257,000 after buying an additional 544,085 shares during the last quarter. Finally, State Street Corp boosted its position in Box by 219.3% in the second quarter. State Street Corp now owns 738,667 shares of the company’s stock worth $7,636,000 after buying an additional 507,337 shares during the last quarter. 29.31% of the stock is currently owned by institutional investors and hedge funds.

About Box

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.

5 Day Chart for NYSE:BOX

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