Box Inc. (NYSE:BOX) was downgraded by analysts at Vetr from a “strong-buy” rating to a “buy” rating in a research note issued to investors on Thursday. They currently have a $17.18 price target on the stock. Vetr‘s price objective would suggest a potential upside of 11.05% from the company’s current price.
Several other research firms have also recently weighed in on BOX. Stifel Nicolaus reissued a “hold” rating and set a $15.00 price target on shares of Box in a report on Monday, October 10th. JMP Securities reaffirmed a “buy” rating on shares of Box in a report on Monday. Pacific Crest reaffirmed a “buy” rating and issued a $21.00 target price on shares of Box in a report on Friday, September 30th. Mitsubishi UFJ Financial Group began coverage on Box in a report on Friday, September 16th. They issued a “neutral” rating and a $15.00 target price on the stock. Finally, Drexel Hamilton reaffirmed a “buy” rating and issued a $18.00 target price on shares of Box in a report on Friday, September 16th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $17.95.
Box (NYSE:BOX) traded up 1.64% during trading on Thursday, hitting $15.47. The stock had a trading volume of 591,324 shares. Box has a 52-week low of $8.82 and a 52-week high of $16.59. The firm’s market cap is $1.96 billion. The company has a 50-day moving average of $14.89 and a 200 day moving average of $12.98.
Box (NYSE:BOX) last released 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. The firm 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 company’s revenue was up 30.2% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.28) EPS. On average, equities research analysts predict 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 Box stock in a transaction dated Tuesday, October 11th. The stock was sold at an average price of $15.32, for a total value of $76,600.00. Following the completion of the transaction, the chief operating officer now owns 3,752 shares in the company, valued at $57,480.64. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Jeff Mannie sold 3,756 shares of Box stock in a transaction dated Monday, September 26th. The stock was 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. 22.30% of the stock is owned by corporate insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. First Trust Advisors LP bought a new position in Box during the third quarter valued at approximately $31,536,000. Bares Capital Management Inc. raised its position in 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. BlackRock Fund Advisors raised its position in 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. Polar Capital LLP raised its position in Box by 882.4% in the second quarter. Polar Capital LLP now owns 605,745 shares of the company’s stock valued at $6,257,000 after buying an additional 544,085 shares in the last quarter. Finally, State Street Corp raised its position in Box by 219.3% in the second quarter. State Street Corp now owns 738,667 shares of the company’s stock valued at $7,636,000 after buying an additional 507,337 shares in the last quarter. Institutional investors own 29.31% 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.