Box, Inc. (BOX) Lifted to “Buy” at BidaskClub
BidaskClub upgraded shares of Box, Inc. (NYSE:BOX) from a hold rating to a buy rating in a research report report published on Wednesday morning.
A number of other analysts have also recently commented on the stock. Stifel Nicolaus reiterated a hold rating and issued a $17.00 price target on shares of Box in a research note on Wednesday, August 16th. Rosenblatt Securities reiterated a buy rating and issued a $25.00 price target on shares of Box in a research note on Monday, July 17th. Drexel Hamilton reiterated a buy rating and issued a $28.00 price target on shares of Box in a research note on Tuesday, June 27th. ValuEngine upgraded shares of Box from a sell rating to a hold rating in a research note on Friday, June 2nd. Finally, Bank of America Corporation reiterated a buy rating and issued a $22.00 price target (up previously from $21.00) on shares of Box in a research note on Friday, June 2nd. Six equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Box has a consensus rating of Buy and an average target price of $22.24.
Shares of Box (NYSE BOX) opened at 19.58 on Wednesday. The firm’s market capitalization is $2.57 billion. The stock’s 50 day moving average price is $18.99 and its 200 day moving average price is $18.04. Box has a 52 week low of $13.00 and a 52 week high of $20.91.
Box (NYSE:BOX) last announced its quarterly earnings results on Wednesday, May 31st. The software maker reported ($0.13) EPS for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.01. The firm had revenue of $117.20 million during the quarter, compared to analysts’ expectations of $114.70 million. Box had a negative net margin of 36.01% and a negative return on equity of 187.98%. The company’s revenue for the quarter was up 29.9% compared to the same quarter last year. During the same quarter last year, the company posted ($0.18) earnings per share. On average, analysts predict that Box will post ($0.46) EPS for the current fiscal year.
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In other Box news, COO Daniel J. Levin sold 40,000 shares of Box stock in a transaction dated Thursday, June 15th. The shares were sold at an average price of $18.28, for a total value of $731,200.00. Following the completion of the sale, the chief operating officer now owns 3,752 shares in the company, valued at approximately $68,586.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, President Daniel J. Levin sold 20,000 shares of Box stock in a transaction dated Tuesday, August 15th. The stock was sold at an average price of $18.60, for a total transaction of $372,000.00. Following the completion of the sale, the president now owns 3,752 shares of the company’s stock, valued at approximately $69,787.20. The disclosure for this sale can be found here. Insiders sold a total of 1,748,934 shares of company stock valued at $32,700,266 in the last quarter. Corporate insiders own 22.30% of the company’s stock.
Hedge funds have recently modified their holdings of the company. Symphony Asset Management LLC boosted its stake in shares of Box by 153.1% in the first quarter. Symphony Asset Management LLC now owns 33,183 shares of the software maker’s stock valued at $541,000 after buying an additional 20,074 shares during the period. Teza Capital Management LLC acquired a new stake in shares of Box during the first quarter valued at $333,000. UBS Asset Management Americas Inc. boosted its stake in shares of Box by 95.8% in the first quarter. UBS Asset Management Americas Inc. now owns 20,753 shares of the software maker’s stock valued at $338,000 after buying an additional 10,153 shares during the period. Swiss National Bank boosted its stake in shares of Box by 11.5% in the first quarter. Swiss National Bank now owns 84,300 shares of the software maker’s stock valued at $1,375,000 after buying an additional 8,700 shares during the period. Finally, Bank of New York Mellon Corp boosted its stake in shares of Box by 29.1% in the first quarter. Bank of New York Mellon Corp now owns 252,752 shares of the software maker’s stock valued at $4,123,000 after buying an additional 57,011 shares during the period. Institutional investors and hedge funds own 36.59% of the company’s stock.
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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