Other equities analysts also recently issued reports about the company. Credit Suisse Group AG restated a neutral rating on shares of Box in a report on Monday, September 19th. Vetr upgraded Box from a buy rating to a strong-buy rating and set a $16.45 price target for the company in a report on Thursday, September 22nd. Oppenheimer Holdings Inc. restated an outperform rating and set a $18.00 price target on shares of Box in a report on Monday, September 5th. Morgan Stanley restated a hold rating and set a $12.00 price target on shares of Box in a report on Thursday, June 2nd. Finally, Zacks Investment Research upgraded Box from a sell rating to a hold rating in a report on Thursday, September 1st. One research analyst has rated the stock with a sell rating, five have issued a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of Buy and an average target price of $17.90.
Shares of Box (NYSE:BOX) opened at 16.15 on Friday. Box has a 12-month low of $8.82 and a 12-month high of $16.59. The stock’s market capitalization is $2.05 billion. The firm’s 50-day moving average is $14.26 and its 200 day moving average is $12.40.
Box (NYSE:BOX) last announced its quarterly earnings data on Wednesday, August 31st. The company reported ($0.14) EPS for the quarter, beating the consensus estimate of ($0.19) by $0.05. The business earned $95.70 million during the quarter, compared to analyst estimates of $94.65 million. Box had a negative return on equity of 133.73% and a negative net margin of 52.12%. The company’s revenue for the quarter was up 30.2% on a year-over-year basis. During the same quarter last year, the firm posted ($0.28) earnings per share. On average, equities research analysts forecast that Box will post ($0.68) EPS for the current fiscal year.
In other news, COO Daniel J. Levin sold 5,000 shares of Box 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Jeff Mannie sold 3,756 shares of Box 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. Insiders own 22.30% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Royal Bank of Canada boosted its position in Box by 88.4% in the second quarter. Royal Bank of Canada now owns 20,701 shares of the company’s stock worth $213,000 after buying an additional 9,715 shares during the last quarter. Schwab Charles Investment Management Inc. boosted its position in Box by 71.4% in the second quarter. Schwab Charles Investment Management Inc. now owns 137,449 shares of the company’s stock worth $1,422,000 after buying an additional 57,258 shares during the last quarter. Pine River Capital Management L.P. bought a new position in Box during the second quarter worth $1,706,000. Metropolitan Life Insurance Co. NY bought a new position in Box during the second quarter worth $372,000. Finally, Cubist Systematic Strategies LLC bought a new position in Box during the second quarter worth $473,000. 26.87% of the stock is currently owned by hedge funds and other institutional investors.
Box Company Profile
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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