Box, Inc. (BOX) Stock Rating Reaffirmed by Canaccord Genuity
Box, Inc. (NYSE:BOX)‘s stock had its “buy” rating restated by Canaccord Genuity in a research note issued on Friday. They currently have a $24.00 target price on the software maker’s stock. Canaccord Genuity’s target price indicates a potential upside of 24.80% from the stock’s previous close.
A number of other equities analysts have also recently issued reports on the stock. Drexel Hamilton reissued a “buy” rating and issued a $28.00 target price on shares of Box in a report on Monday, August 28th. Rosenblatt Securities reissued a “buy” rating and issued a $25.00 target price on shares of Box in a report on Monday, June 26th. Mitsubishi UFJ Financial Group raised Box to an “overweight” rating and lifted their price target for the company from $23.00 to $24.00 in a report on Thursday, August 31st. BidaskClub cut Box from a “buy” rating to a “hold” rating in a report on Tuesday, August 1st. Finally, Oppenheimer Holdings, Inc. reaffirmed an “outperform” rating and set a $22.00 price target on shares of Box in a report on Sunday, September 3rd. Three analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $23.32.
Box (NYSE:BOX) opened at 19.23 on Friday. The firm’s market cap is $2.57 billion. Box has a 12 month low of $13.56 and a 12 month high of $19.44. The company has a 50-day moving average price of $18.57 and a 200 day moving average price of $18.57.
Box (NYSE:BOX) last issued its earnings results on Wednesday, August 30th. The software maker reported ($0.11) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.13) by $0.02. Box had a negative net margin of 34.11% and a negative return on equity of 232.81%. The firm had revenue of $122.94 million for the quarter, compared to analysts’ expectations of $121.75 million. During the same quarter last year, the company posted ($0.14) earnings per share. Box’s revenue was up 28.4% on a year-over-year basis. Equities research analysts anticipate that Box will post ($0.45) EPS for the current year.
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In related news, Director Rory O’driscoll sold 224,000 shares of the firm’s stock in a transaction that occurred on Friday, September 29th. The shares were sold at an average price of $19.22, for a total transaction of $4,305,280.00. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, VP Jeff Mannie sold 6,145 shares of the firm’s stock in a transaction that occurred on Thursday, September 28th. The shares were sold at an average price of $19.00, for a total transaction of $116,755.00. The disclosure for this sale can be found here. Insiders have sold 986,534 shares of company stock worth $18,436,451 in the last quarter. Company insiders own 22.30% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Essex Investment Management Co. LLC increased its stake in shares of Box by 0.8% during the second quarter. Essex Investment Management Co. LLC now owns 75,775 shares of the software maker’s stock valued at $1,382,000 after acquiring an additional 628 shares during the period. Capital One National Association increased its stake in shares of Box by 3.8% during the second quarter. Capital One National Association now owns 25,412 shares of the software maker’s stock valued at $464,000 after acquiring an additional 931 shares during the period. American International Group Inc. increased its stake in shares of Box by 7.1% during the first quarter. American International Group Inc. now owns 30,063 shares of the software maker’s stock valued at $490,000 after acquiring an additional 1,991 shares during the period. Ameritas Investment Partners Inc. increased its stake in shares of Box by 81.3% during the second quarter. Ameritas Investment Partners Inc. now owns 6,896 shares of the software maker’s stock valued at $126,000 after acquiring an additional 3,092 shares during the period. Finally, Pacific Alternative Asset Management Company LLC increased its stake in shares of Box by 5.6% during the second quarter. Pacific Alternative Asset Management Company LLC now owns 69,502 shares of the software maker’s stock valued at $1,268,000 after acquiring an additional 3,695 shares during the period. Institutional investors and hedge funds own 57.37% 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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