Drexel Hamilton Increases Box Inc. (BOX) Price Target to $22.00
Box Inc. (NYSE:BOX) had its target price hoisted by research analysts at Drexel Hamilton to $22.00 in a research note issued on Thursday. Drexel Hamilton’s target price indicates a potential upside of 44.55% from the stock’s current price.
Other equities research analysts have also issued research reports about the company. Mitsubishi UFJ Financial Group assumed coverage on Box in a report on Friday, September 16th. They issued a “neutral” rating and a $15.00 price objective for the company. Vetr lowered Box from a “strong-buy” rating to a “buy” rating and set a $16.45 price objective for the company. in a report on Monday, September 19th. Stifel Nicolaus reissued a “hold” rating on shares of Box in a report on Thursday, September 1st. Zacks Investment Research raised Box from a “sell” rating to a “hold” rating in a report on Thursday, September 1st. Finally, KeyCorp reissued an “overweight” rating and issued a $21.00 price objective on shares of Box in a report on Saturday, September 10th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $18.21.
Box (NYSE:BOX) opened at 15.22 on Thursday. The firm’s market cap is $1.93 billion. The firm’s 50-day moving average price is $14.84 and its 200 day moving average price is $13.05. Box has a 52 week low of $8.82 and a 52 week high of $16.59.
Box (NYSE:BOX) last announced its earnings results on Wednesday, November 30th. The company reported ($0.14) earnings per share (EPS) for the quarter, beating the consensus estimate 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 firm earned $102.80 million during the quarter, compared to analyst estimates of $103.34 million. During the same period last year, the firm posted ($0.31) EPS. The business’s revenue was up 30.6% compared to the same quarter last year. Equities analysts forecast that Box will post ($0.68) earnings per share for the current fiscal year.
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In other Box news, COO Daniel J. Levin sold 5,000 shares of the business’s stock in a transaction on Tuesday, September 13th. The stock was sold at an average price of $14.44, for a total value of $72,200.00. Following the sale, the chief operating officer now directly owns 3,079 shares of the company’s stock, valued at $44,460.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 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 value of $55,100.52. The disclosure for this sale can be found here. Corporate insiders own 22.30% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in the company. Peloton Wealth Strategists bought a new stake in Box during the third quarter valued at approximately $1,278,000. Credit Suisse AG increased its stake in Box by 69.0% in the third quarter. Credit Suisse AG now owns 214,539 shares of the company’s stock valued at $3,381,000 after buying an additional 87,572 shares during the period. D. E. Shaw & Co. Inc. bought a new stake in Box during the third quarter valued at approximately $772,000. Gotham Asset Management LLC bought a new stake in Box during the third quarter valued at approximately $463,000. Finally, The Manufacturers Life Insurance Company bought a new stake in Box during the third quarter valued at approximately $571,000. 27.58% of the stock is currently 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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