Vetr upgraded shares of Box Inc. (NYSE:BOX) from a buy rating to a strong-buy rating in a research report sent to investors on Thursday morning. The brokerage currently has $16.45 target price on the stock.
A number of other equities research analysts have also recently commented on the company. Zacks Investment Research cut Box from a hold rating to a strong sell rating in a research note on Tuesday, August 16th. Bank of America Corp. reiterated a buy rating and set a $18.00 target price on shares of Box in a research note on Monday, August 22nd. Veritas Investment Research reiterated a strong-buy rating on shares of Box in a research note on Friday, August 5th. Oppenheimer Holdings Inc. reiterated an outperform rating and set a $18.00 target price on shares of Box in a research note on Monday, August 15th. Finally, JPMorgan Chase & Co. cut Box from an overweight rating to a neutral rating and lowered their target price for the stock from $18.00 to $14.00 in a research note on Thursday, June 2nd. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of Buy and a consensus target price of $17.90.
Box (NYSE:BOX) opened at 14.85 on Thursday. The company’s market cap is $1.88 billion. Box has a 12-month low of $8.82 and a 12-month high of $14.94. The stock has a 50 day moving average of $13.70 and a 200-day moving average of $12.25.
Box (NYSE:BOX) last released its earnings results on Wednesday, August 31st. The company reported ($0.14) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.19) by $0.05. The company had revenue of $95.70 million for the quarter, compared to analysts’ expectations of $94.65 million. Box had a negative return on equity of 133.73% and a negative net margin of 52.12%. The business’s revenue for the quarter was up 30.2% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.28) EPS. On average, equities research analysts anticipate that Box will post ($0.68) earnings per share for the current fiscal year.
In other news, COO Daniel J. Levin sold 5,000 shares of the business’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 completion of the transaction, the chief operating officer now owns 3,079 shares of the company’s stock, valued at $44,460.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 22.30% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the company. Bares Capital Management Inc. raised its stake in shares of Box by 48.6% in the second quarter. Bares Capital Management Inc. now owns 5,136,447 shares of the company’s stock valued at $53,111,000 after buying an additional 1,680,699 shares in the last quarter. Coatue Management LLC raised its stake in shares of Box by 6.5% in the second quarter. Coatue Management LLC now owns 4,058,589 shares of the company’s stock valued at $41,966,000 after buying an additional 247,205 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Box by 18.8% in the second quarter. Vanguard Group Inc. now owns 2,496,539 shares of the company’s stock valued at $25,814,000 after buying an additional 395,010 shares in the last quarter. BlackRock Fund Advisors raised its stake in shares of Box by 266.2% in the second quarter. BlackRock Fund Advisors now owns 1,151,475 shares of the company’s stock valued at $11,906,000 after buying an additional 837,075 shares in the last quarter. Finally, BlackRock Institutional Trust Company N.A. raised its stake in shares of Box by 50.1% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 1,122,049 shares of the company’s stock valued at $11,602,000 after buying an additional 374,654 shares in the last quarter. 26.87% of the stock is 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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