Vetr cut shares of Box Inc. (NYSE:BOX) from a strong-buy rating to a buy rating in a research note issued to investors on Wednesday morning. They currently have $16.45 target price on the stock.
BOX has been the subject of several other research reports. Bank of America Corp. reiterated a buy rating and set a $18.00 price target on shares of Box in a research note on Monday, August 22nd. Stifel Nicolaus reiterated a hold rating and set a $15.00 price target on shares of Box in a research note on Friday, September 9th. Canaccord Genuity reiterated a buy rating and set a $17.00 price target on shares of Box in a research note on Tuesday, September 13th. Drexel Hamilton reiterated a buy rating and set a $18.00 price target on shares of Box in a research note on Friday, September 16th. Finally, Zacks Investment Research upgraded Box from a hold rating to a buy rating and set a $16.00 price target for the company in a research note on Tuesday, September 13th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of Buy and an average target price of $17.90.
Box (NYSE:BOX) opened at 16.18 on Wednesday. The firm’s 50-day moving average price is $14.06 and its 200 day moving average price is $12.35. The firm’s market cap is $2.05 billion. Box has a 52 week low of $8.82 and a 52 week high of $16.25.
Box (NYSE:BOX) last posted its quarterly earnings results on Wednesday, August 31st. The company reported ($0.14) earnings per share for the quarter, topping the consensus estimate of ($0.19) by $0.05. The company earned $95.70 million during the quarter, compared to the consensus estimate of $94.65 million. Box had a negative return on equity of 133.73% and a negative net margin of 52.12%. The firm’s quarterly revenue was up 30.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.28) EPS. Equities analysts forecast that Box will post ($0.68) earnings per share for the current fiscal year.
In related news, COO Daniel J. Levin sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, September 13th. The stock was sold at an average price of $14.44, for a total transaction of $72,200.00. Following the transaction, the chief operating officer now directly owns 3,079 shares of the company’s stock, valued at approximately $44,460.76. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Jeff Mannie sold 3,756 shares of the firm’s stock in a transaction dated Monday, September 26th. The shares were sold at an average price of $14.67, for a total value of $55,100.52. The disclosure for this sale can be found here. Corporate insiders own 22.30% of the company’s stock.
Institutional investors have recently made changes to their positions in the stock. Parametric Portfolio Associates LLC purchased a new position in shares of Box during the second quarter worth $108,000. Capstone Investment Advisors LLC bought a new position in shares of Box during the second quarter worth approximately $129,000. Royal Bank of Canada boosted its position in shares of Box by 83.0% in the first quarter. Royal Bank of Canada now owns 10,986 shares of the company’s stock worth $134,000 after buying an additional 4,983 shares during the period. Quantbot Technologies LP boosted its position 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. Finally, Oppenheimer & Co. Inc. bought a new position in shares of Box during the second quarter worth approximately $192,000. 26.87% of the stock is currently owned by institutional investors.
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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