Box’s (BOX) Buy Rating Reaffirmed at Drexel Hamilton
A number of other brokerages have also recently issued reports on BOX. BidaskClub upgraded shares of Box from a hold rating to a buy rating in a report on Wednesday, August 23rd. Wells Fargo & Company reiterated an outperform rating and issued a $27.00 price objective (up from $24.00) on shares of Box in a report on Thursday, June 1st. Morgan Stanley reiterated an equal weight rating and issued a $20.00 price objective (up from $19.00) on shares of Box in a report on Thursday, June 1st. Mitsubishi UFJ Financial Group upgraded shares of Box from a neutral rating to an overweight rating and upped their price objective for the stock from $17.50 to $23.00 in a report on Thursday, June 1st. Finally, Rosenblatt Securities reiterated a buy rating and issued a $25.00 price objective on shares of Box in a report on Monday, June 26th. Six research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. The stock currently has a consensus rating of Buy and an average price target of $22.24.
Box (BOX) opened at 19.62 on Monday. The firm’s market cap is $2.58 billion. Box has a 1-year low of $12.94 and a 1-year high of $20.91. The firm’s 50-day moving average price is $18.99 and its 200-day moving average price is $18.04.
Box (NYSE:BOX) last posted its quarterly earnings results on Wednesday, May 31st. The software maker reported ($0.13) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.14) by $0.01. Box had a negative net margin of 36.01% and a negative return on equity of 187.98%. The business had revenue of $117.20 million for the quarter, compared to the consensus estimate of $114.70 million. During the same period in the prior year, the business posted ($0.18) earnings per share. Box’s revenue for the quarter was up 29.9% compared to the same quarter last year. On average, equities research analysts anticipate that Box will post ($0.46) earnings per share for the current year.
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In other Box news, President Daniel J. Levin sold 20,000 shares of the company’s stock in a transaction dated Tuesday, August 15th. The shares were sold at an average price of $18.60, for a total transaction of $372,000.00. Following the completion of the sale, the president now directly owns 3,752 shares in the company, valued at $69,787.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Rory O’driscoll sold 671,186 shares of the company’s stock in a transaction dated Thursday, June 15th. The shares were sold at an average price of $18.48, for a total transaction of $12,403,517.28. The disclosure for this sale can be found here. Insiders have sold 1,748,934 shares of company stock valued at $32,700,266 over the last 90 days. Corporate insiders own 20.59% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in the stock. Verition Fund Management LLC purchased a new stake in Box during the second quarter worth about $288,000. Crosslink Capital Inc. boosted its stake in Box by 95.4% in the second quarter. Crosslink Capital Inc. now owns 1,332,742 shares of the software maker’s stock worth $24,309,000 after buying an additional 650,712 shares during the period. Sterling Capital Management LLC boosted its stake in Box by 19.0% in the second quarter. Sterling Capital Management LLC now owns 102,761 shares of the software maker’s stock worth $1,874,000 after buying an additional 16,408 shares during the period. Ameritas Investment Partners Inc. boosted its stake in Box by 81.3% in the second quarter. Ameritas Investment Partners Inc. now owns 6,896 shares of the software maker’s stock worth $126,000 after buying an additional 3,092 shares during the period. Finally, California State Teachers Retirement System boosted its stake in Box by 44.8% in the second quarter. California State Teachers Retirement System now owns 139,206 shares of the software maker’s stock worth $2,539,000 after buying an additional 43,043 shares during the period. Institutional investors own 57.81% 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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