Rosenblatt Securities Reaffirms “Buy” Rating for Box, Inc. (BOX)
Box, Inc. (NYSE:BOX)‘s stock had its “buy” rating reissued by analysts at Rosenblatt Securities in a report issued on Friday. They presently have a $25.00 target price on the software maker’s stock. Rosenblatt Securities’ price target would indicate a potential upside of 27.42% from the company’s current price.
Other equities analysts have also issued research reports about the company. Pacific Crest reaffirmed an “overweight” rating and set a $25.00 price target on shares of Box in a research note on Wednesday, May 31st. Mitsubishi UFJ Financial Group raised Box from a “neutral” rating to an “overweight” rating and upped their price target for the company from $17.50 to $23.00 in a research note on Thursday, June 1st. Canaccord Genuity reaffirmed a “buy” rating and set a $24.00 price target (up previously from $22.00) on shares of Box in a research note on Thursday, June 1st. Wells Fargo & Company reaffirmed an “outperform” rating and set a $27.00 price target (up previously from $24.00) on shares of Box in a research note on Thursday, June 1st. Finally, Stifel Nicolaus reaffirmed a “hold” rating and set a $17.00 price target (up previously from $15.00) on shares of Box in a research note on Thursday, June 1st. Six research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $22.24.
Box (NYSE:BOX) traded down 1.809% during midday trading on Friday, reaching $19.265. The company’s stock had a trading volume of 549,212 shares. The firm has a 50 day moving average price of $19.13 and a 200 day moving average price of $18.09. Box has a 1-year low of $13.50 and a 1-year high of $20.91. The firm’s market capitalization is $2.53 billion. Box also was the recipient of some unusual options trading on Wednesday. Investors acquired 5,432 put options on the company. This represents an increase of 882% compared to the average volume of 553 put options.
Box (NYSE:BOX) last announced its quarterly earnings results on Wednesday, August 30th. The software maker reported ($0.11) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.02. Box had a negative return on equity of 207.36% and a negative net margin of 34.11%. The firm had revenue of $122.94 million for the quarter, compared to analysts’ expectations of $121.75 million. During the same period in the prior year, the business posted ($0.14) earnings per share. The business’s revenue was up 28.4% compared to the same quarter last year. On average, analysts predict that Box will post ($0.45) EPS for the current year.
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In related news, major shareholder Fisher Jurvetson Fund V. Draper sold 320,000 shares of Box stock in a transaction that occurred on Wednesday, July 5th. The stock was sold at an average price of $18.07, for a total transaction of $5,782,400.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Rory O’driscoll sold 671,186 shares of Box stock in a transaction that occurred on Thursday, June 15th. The stock was sold at an average price of $18.48, for a total value of $12,403,517.28. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,748,934 shares of company stock valued at $32,700,266. Insiders own 22.30% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in the company. Capital One National Association boosted its position in shares of Box by 1.3% in the first quarter. Capital One National Association now owns 24,481 shares of the software maker’s stock valued at $399,000 after buying an additional 309 shares in the last quarter. Essex Investment Management Co. LLC boosted its position in shares of Box by 0.8% in the second quarter. Essex Investment Management Co. LLC now owns 75,775 shares of the software maker’s stock valued at $1,382,000 after buying an additional 628 shares in the last quarter. American International Group Inc. boosted its position in shares of Box by 7.1% in the first quarter. American International Group Inc. now owns 30,063 shares of the software maker’s stock valued at $490,000 after buying an additional 1,991 shares in the last quarter. Ameritas Investment Partners Inc. boosted its position in shares of Box by 81.3% in the second quarter. Ameritas Investment Partners Inc. now owns 6,896 shares of the software maker’s stock valued at $126,000 after buying an additional 3,092 shares in the last quarter. Finally, Lyell Wealth Management LP boosted its position in shares of Box by 11.2% in the first quarter. Lyell Wealth Management LP now owns 32,615 shares of the software maker’s stock valued at $532,000 after buying an additional 3,283 shares in the last quarter. 57.81% of the stock is owned by institutional investors and hedge funds.
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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