Several other equities research analysts also recently weighed in on BOX. Pacific Crest reaffirmed a buy rating on shares of Box in a research note on Sunday, May 22nd. JPMorgan Chase & Co. downgraded shares of Box from an overweight rating to a neutral rating and decreased their price target for the company from $18.00 to $14.00 in a research note on Thursday, June 2nd. Canaccord Genuity decreased their price target on shares of Box from $18.00 to $16.00 and set a buy rating for the company in a research note on Thursday, June 2nd. Oppenheimer Holdings Inc. reaffirmed a buy rating and issued a $18.00 price target (down from $21.00) on shares of Box in a research note on Thursday, June 2nd. Finally, JMP Securities reaffirmed a buy rating on shares of Box 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, nine have issued a buy rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of Buy and an average target price of $17.39.
Shares of Box (NYSE:BOX) opened at 14.76 on Friday. Box has a 52 week low of $8.82 and a 52 week high of $14.93. The company has a 50-day moving average of $13.40 and a 200 day moving average of $12.18. The firm’s market capitalization is $1.87 billion.
Box (NYSE:BOX) last posted its quarterly earnings results on Wednesday, August 31st. The company reported ($0.14) earnings per share for the quarter, beating the consensus estimate of ($0.19) by $0.05. Box had a negative net margin of 52.12% and a negative return on equity of 133.73%. The firm earned $95.70 million during the quarter, compared to the consensus estimate of $94.65 million. During the same period in the previous year, the firm posted ($0.28) earnings per share. The business’s revenue was up 30.2% compared to the same quarter last year. Equities research analysts anticipate that Box will post ($0.68) earnings per share for the current year.
In other Box news, COO Daniel J. Levin sold 5,000 shares of the business’s stock in a transaction dated Tuesday, September 13th. The shares were sold at an average price of $14.44, for a total value of $72,200.00. Following the transaction, the chief operating officer now directly owns 3,079 shares in the company, valued at $44,460.76. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 22.30% of the stock is currently owned by company insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Parametric Portfolio Associates LLC bought a new position in Box during the second quarter worth $108,000. BlackRock Group LTD boosted its position in Box by 78.3% in the first quarter. BlackRock Group LTD now owns 9,725 shares of the company’s stock worth $119,000 after buying an additional 4,270 shares during the last quarter. Squarepoint Ops LLC bought a new position in Box during the first quarter worth $126,000. Capstone Investment Advisors LLC bought a new position in Box during the second quarter worth $129,000. Finally, Royal Bank of Canada boosted its position in 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 last quarter. Hedge funds and other institutional investors own 27.08% of the company’s stock.
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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