BOX (NYSE:BOX) Price Target Raised to $60.00

BOX (NYSE:BOX) had its target price raised by DA Davidson from $50.00 to $60.00 in a report released on Monday, Benzinga reports. The firm currently has a “buy” rating on the software maker’s stock. DA Davidson‘s target price suggests a potential upside of 43.45% from the company’s current price.

A number of other equities analysts also recently weighed in on BOX. Morgan Stanley raised their target price on shares of BOX from $33.00 to $36.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 26th. Royal Bank Of Canada restated an “underperform” rating and issued a $26.00 price target on shares of BOX in a research note on Wednesday, August 26th. UBS Group raised their price objective on BOX from $29.00 to $37.00 and gave the company a “neutral” rating in a research report on Wednesday, August 26th. Weiss Ratings upgraded BOX from a “hold (c)” rating to a “hold (c+)” rating in a research note on Tuesday, October 6th. Finally, Wall Street Zen downgraded BOX from a “buy” rating to a “hold” rating in a report on Sunday, October 4th. Three analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $39.80.

BOX Trading Down 0.3%

BOX stock traded down $0.12 on Monday, hitting $41.83. 1,105,745 shares of the stock traded hands, compared to its average volume of 2,658,309. BOX has a 1 year low of $21.34 and a 1 year high of $44.88. The firm has a market cap of $5.74 billion, a P/E ratio of 60.50, a price-to-earnings-growth ratio of 11.03 and a beta of 0.65. The business’s fifty day simple moving average is $37.24 and its 200 day simple moving average is $29.17.

BOX (NYSE:BOX) last released its earnings results on Tuesday, August 25th. The software maker reported $0.40 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.40. The firm had revenue of $321.15 million for the quarter, compared to the consensus estimate of $319.33 million. BOX had a net margin of 10.59% and a negative return on equity of 20.97%. The company’s revenue was up 9.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.33 EPS. BOX has set its Q3 2027 guidance at 0.390-0.390 EPS and its FY 2027 guidance at 1.540-1.540 EPS. As a group, analysts predict that BOX will post 0.32 earnings per share for the current year.

Insider Buying and Selling

In related news, VP Eli Berkovitch sold 3,850 shares of the stock in a transaction that occurred on Monday, August 31st. The shares were sold at an average price of $35.99, for a total transaction of $138,561.50. Following the transaction, the vice president owned 105,404 shares in the company, valued at $3,793,489.96. This represents a 3.52% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Olivia Nottebohm sold 5,293 shares of the firm’s stock in a transaction that occurred on Wednesday, October 21st. The stock was sold at an average price of $41.58, for a total transaction of $220,082.94. Following the completion of the sale, the chief operating officer owned 481,466 shares in the company, valued at $20,019,356.28. This represents a 1.09% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 69,594 shares of company stock worth $2,478,743 in the last three months. 3.99% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On BOX

Hedge funds and other institutional investors have recently modified their holdings of the company. Bessemer Group Inc. increased its holdings in BOX by 0.3% in the 3rd quarter. Bessemer Group Inc. now owns 123,594 shares of the software maker’s stock worth $4,139,000 after acquiring an additional 381 shares in the last quarter. Hantz Financial Services Inc. lifted its holdings in BOX by 12.0% during the third quarter. Hantz Financial Services Inc. now owns 30,232 shares of the software maker’s stock valued at $1,012,000 after purchasing an additional 3,242 shares in the last quarter. Danske Bank A S purchased a new position in BOX during the third quarter valued at approximately $37,000. Allworth Financial LP lifted its holdings in BOX by 53.3% during the third quarter. Allworth Financial LP now owns 2,634 shares of the software maker’s stock valued at $88,000 after purchasing an additional 916 shares in the last quarter. Finally, Fisher Asset Management LLC boosted its position in shares of BOX by 9.3% in the third quarter. Fisher Asset Management LLC now owns 1,007,772 shares of the software maker’s stock worth $33,740,000 after purchasing an additional 85,341 shares during the period. 86.74% of the stock is owned by institutional investors.

About BOX

Box, Inc provides a cloud-based content management platform that helps organizations store, manage, share, and collaborate on files. Its services support document workflows across desktop and mobile devices.

The Box platform includes tools for content collaboration, workflow automation, security, and governance. It also integrates with business applications and offers AI features designed to help customers work with their stored content.

Founded in 2005 by Aaron Levie and Dylan Smith, Box serves businesses and other organizations across multiple regions.