BOX (NYSE:BOX) Receives “Buy” Rating from DA Davidson

DA Davidson restated their buy rating on shares of BOX (NYSE:BOX) in a report released on Friday morning,Benzinga reports. The firm currently has a $45.00 target price on the software maker’s stock.

Other analysts have also recently issued reports about the stock. UBS Group decreased their price objective on shares of BOX from $31.00 to $28.00 and set a “hold” rating on the stock in a research note on Wednesday, March 4th. Wall Street Zen upgraded shares of BOX from a “hold” rating to a “strong-buy” rating in a research note on Saturday, March 14th. Morgan Stanley decreased their price target on BOX from $38.00 to $33.00 and set an “equal weight” rating on the stock in a research report on Thursday, March 12th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of BOX in a report on Monday, December 29th. Finally, Citigroup cut their price objective on BOX from $40.00 to $36.00 and set a “buy” rating for the company in a research report on Wednesday, March 4th. Four research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, BOX currently has a consensus rating of “Hold” and a consensus price target of $35.57.

BOX Stock Performance

Shares of NYSE:BOX opened at $24.65 on Friday. BOX has a 52 week low of $21.61 and a 52 week high of $38.80. The company’s fifty day moving average is $24.85 and its 200-day moving average is $29.16. The company has a market capitalization of $3.53 billion, a PE ratio of 41.77, a P/E/G ratio of 1.23 and a beta of 0.80.

BOX (NYSE:BOX) last posted its earnings results on Tuesday, March 3rd. The software maker reported $0.49 earnings per share for the quarter, topping the consensus estimate of $0.33 by $0.16. BOX had a net margin of 9.80% and a negative return on equity of 23.61%. The business had revenue of $305.88 million for the quarter, compared to analyst estimates of $305.64 million. During the same quarter in the prior year, the firm earned $0.42 EPS. The firm’s quarterly revenue was up 9.4% compared to the same quarter last year. On average, analysts forecast that BOX will post 0.27 EPS for the current year.

BOX declared that its board has authorized a stock repurchase program on Thursday, March 19th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the software maker to buy up to 14.2% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Insiders Place Their Bets

In other news, CFO Dylan C. Smith sold 17,000 shares of BOX stock in a transaction on Friday, January 9th. The stock was sold at an average price of $29.57, for a total value of $502,690.00. Following the completion of the sale, the chief financial officer directly owned 1,328,195 shares of the company’s stock, valued at approximately $39,274,726.15. This trade represents a 1.26% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Olivia Nottebohm sold 4,612 shares of the business’s stock in a transaction on Friday, March 6th. The stock was sold at an average price of $25.78, for a total value of $118,897.36. Following the sale, the chief operating officer owned 465,219 shares of the company’s stock, valued at approximately $11,993,345.82. The trade was a 0.98% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 79,836 shares of company stock valued at $2,091,096. 3.90% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On BOX

Several hedge funds have recently added to or reduced their stakes in the company. First Horizon Corp raised its holdings in BOX by 148.1% during the 4th quarter. First Horizon Corp now owns 831 shares of the software maker’s stock worth $25,000 after purchasing an additional 496 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of BOX in the 4th quarter valued at about $26,000. Geneos Wealth Management Inc. bought a new position in shares of BOX in the 1st quarter valued at about $31,000. Salomon & Ludwin LLC acquired a new stake in shares of BOX during the 3rd quarter worth approximately $32,000. Finally, Employees Retirement System of Texas bought a new stake in shares of BOX during the third quarter worth approximately $35,000. Institutional investors own 86.74% of the company’s stock.

BOX Company Profile

Box, Inc is a leading provider of cloud content management and file sharing solutions designed to support enterprises in securely managing, accessing and collaborating on digital content from anywhere. The company offers a unified platform that enables organizations to store, share and automate workflows across various departments, enhancing productivity and ensuring governance over sensitive information. Box’s services are tailored to meet the needs of industries such as healthcare, financial services, government and media, where compliance and data security are paramount.

The core offerings of Box include its Content Cloud platform, which provides content collaboration, workflow automation, data classification and secure file sharing.