Box, Inc. (BOX) Price Target Raised to $25.00 at Canaccord Genuity
BOX has been the topic of a number of other research reports. Oppenheimer Holdings, Inc. restated an outperform rating and issued a $22.00 target price on shares of Box in a research report on Sunday, September 3rd. Stifel Nicolaus restated a hold rating and issued a $17.00 target price on shares of Box in a research report on Wednesday, August 16th. Mitsubishi UFJ Financial Group upgraded Box to an overweight rating and lifted their target price for the company from $23.00 to $24.00 in a research report on Thursday, August 31st. Rosenblatt Securities restated a buy rating and issued a $25.00 target price on shares of Box in a research report on Monday, July 17th. Finally, Drexel Hamilton restated a buy rating and issued a $28.00 target price on shares of Box in a research report on Monday, August 28th. Three research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. The company has a consensus rating of Buy and an average price target of $23.40.
Box (NYSE BOX) traded up 4.93% during mid-day trading on Friday, reaching $20.21. The company’s stock had a trading volume of 5,608,493 shares. The stock’s market cap is $2.70 billion. The firm’s 50 day moving average price is $18.73 and its 200 day moving average price is $18.73. Box has a 12-month low of $13.56 and a 12-month high of $20.24.
Box (NYSE:BOX) last posted its earnings results on Wednesday, August 30th. The software maker reported ($0.11) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.13) by $0.02. Box had a negative return on equity of 232.81% and a negative net margin of 34.11%. The company had revenue of $122.94 million for the quarter, compared to the consensus estimate of $121.75 million. During the same quarter in the previous year, the business earned ($0.14) earnings per share. The company’s revenue for the quarter was up 28.4% on a year-over-year basis. On average, equities analysts predict that Box will post ($0.45) earnings per share for the current year.
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In related news, Director Rory O’driscoll sold 233,066 shares of the business’s stock in a transaction on Tuesday, September 19th. The stock was sold at an average price of $18.41, for a total value of $4,290,745.06. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Daniel J. Levin sold 50,000 shares of the business’s stock in a transaction on Thursday, July 27th. The shares were sold at an average price of $20.00, for a total value of $1,000,000.00. Following the completion of the sale, the insider now owns 3,752 shares in the company, valued at approximately $75,040. The disclosure for this sale can be found here. Insiders sold a total of 999,534 shares of company stock worth $18,684,231 in the last quarter. Company insiders own 22.30% of the company’s stock.
Several hedge funds have recently bought and sold shares of BOX. Russell Investments Group Ltd. grew its stake in Box by 39.5% during the 1st quarter. Russell Investments Group Ltd. now owns 21,638 shares of the software maker’s stock worth $352,000 after purchasing an additional 6,124 shares in the last quarter. Wells Fargo & Company MN grew its stake in Box by 27.1% during the 1st quarter. Wells Fargo & Company MN now owns 92,901 shares of the software maker’s stock worth $1,515,000 after purchasing an additional 19,816 shares in the last quarter. Bank of New York Mellon Corp grew its stake in Box by 29.1% during the 1st quarter. Bank of New York Mellon Corp now owns 252,752 shares of the software maker’s stock worth $4,123,000 after purchasing an additional 57,011 shares in the last quarter. Swiss National Bank grew its stake in Box by 11.5% during the 1st quarter. Swiss National Bank now owns 84,300 shares of the software maker’s stock worth $1,375,000 after purchasing an additional 8,700 shares in the last quarter. Finally, UBS Asset Management Americas Inc. grew its stake in Box by 95.8% during the 1st quarter. UBS Asset Management Americas Inc. now owns 20,753 shares of the software maker’s stock worth $338,000 after purchasing an additional 10,153 shares in the last quarter. Hedge funds and other institutional investors own 57.37% 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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