Vetr upgraded shares of Box Inc. (NYSE:BOX) from a buy rating to a strong-buy rating in a research report released on Tuesday morning. The firm currently has $17.24 price target on the stock.
A number of other equities analysts also recently issued reports on BOX. Zacks Investment Research downgraded Box from a strong-buy rating to a hold rating in a research report on Tuesday, August 2nd. Veritas Investment Research reaffirmed a strong-buy rating on shares of Box in a research note on Friday, August 5th. Oppenheimer Holdings Inc. reaffirmed an outperform rating and set a $18.00 target price on shares of Box in a research note on Monday, August 15th. Bank of America Corp. reaffirmed a buy rating and set a $18.00 target price on shares of Box in a research note on Monday, August 22nd. Finally, Stifel Nicolaus reaffirmed a hold rating on shares of Box in a research note on Thursday, September 1st. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, nine have given a buy rating and two have issued a strong buy rating to the company’s stock. The company has an average rating of Buy and a consensus price target of $17.95.
Shares of Box (NYSE:BOX) opened at 14.74 on Tuesday. The stock’s 50 day moving average price is $14.68 and its 200-day moving average price is $12.53. Box has a 52 week low of $8.82 and a 52 week high of $16.59. The company’s market cap is $1.87 billion.
Box (NYSE:BOX) last issued its quarterly earnings data on Wednesday, August 31st. The company reported ($0.14) earnings per share (EPS) for the quarter, topping the Zacks’ 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 company earned $95.70 million during the quarter, compared to the consensus estimate of $94.65 million. During the same period last year, the company earned ($0.28) earnings per share. The firm’s revenue was up 30.2% compared to the same quarter last year. Analysts expect that Box will post ($0.68) EPS for the current year.
In other news, VP Jeff Mannie sold 3,756 shares of the firm’s stock in a transaction that occurred on Monday, September 26th. The stock was sold at an average price of $14.67, for a total value of $55,100.52. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, COO Daniel J. Levin sold 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 4th. The shares were sold at an average price of $16.38, for a total value of $81,900.00. Following the completion of the transaction, the chief operating officer now owns 3,752 shares in the company, valued at approximately $61,457.76. The disclosure for this sale can be found here. 22.30% of the stock is owned by insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. raised its position in Box by 18.8% in the second quarter. Vanguard Group Inc. now owns 2,496,539 shares of the company’s stock worth $25,814,000 after buying an additional 395,010 shares in the last quarter. Nationwide Fund Advisors raised its stake in shares of Box by 277.2% in the second quarter. Nationwide Fund Advisors now owns 31,740 shares of the company’s stock worth $328,000 after buying an additional 23,325 shares during the period. Oppenheimer & Co. Inc. acquired a new stake in shares of Box during the second quarter worth approximately $192,000. Oxford Asset Management raised its stake in shares of Box by 275.5% in the second quarter. Oxford Asset Management now owns 43,535 shares of the company’s stock worth $450,000 after buying an additional 31,941 shares during the period. Finally, Quantbot Technologies LP raised its stake in shares of Box by 11.7% in the second quarter. Quantbot Technologies LP now owns 17,786 shares of the company’s stock worth $183,000 after buying an additional 1,860 shares during the period. Institutional investors own 26.87% 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.
To view Vetr’s full report, visit Vetr’s official website.
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