Morgan Stanley Trims BOX (NYSE:BOX) Target Price to $30.00

BOX (NYSE:BOXFree Report) had its price objective decreased by Morgan Stanley from $32.00 to $30.00 in a report published on Wednesday, Benzinga reports. Morgan Stanley currently has an equal weight rating on the software maker’s stock.

A number of other research firms have also commented on BOX. Royal Bank of Canada reaffirmed an underperform rating and set a $21.00 target price on shares of BOX in a report on Wednesday, March 20th. StockNews.com raised shares of BOX from a buy rating to a strong-buy rating in a report on Thursday, April 11th. TheStreet raised shares of BOX from a c rating to a b rating in a report on Tuesday, March 5th. JMP Securities reaffirmed a market outperform rating and set a $32.00 target price on shares of BOX in a report on Wednesday, March 20th. Finally, Citigroup lifted their target price on shares of BOX from $29.00 to $32.00 and gave the stock a buy rating in a report on Wednesday, March 6th. One research analyst has rated the stock with a sell rating, two have given a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of Moderate Buy and a consensus price target of $30.33.

Read Our Latest Stock Analysis on BOX

BOX Price Performance

Shares of BOX stock opened at $27.25 on Wednesday. The firm has a market cap of $3.93 billion, a P/E ratio of 37.33, a P/E/G ratio of 9.26 and a beta of 0.85. The firm has a 50 day simple moving average of $26.91 and a 200 day simple moving average of $26.53. BOX has a fifty-two week low of $23.29 and a fifty-two week high of $31.94.

BOX (NYSE:BOXGet Free Report) last issued its quarterly earnings results on Tuesday, March 5th. The software maker reported $0.09 earnings per share for the quarter, beating analysts’ consensus estimates of $0.02 by $0.07. The business had revenue of $262.88 million during the quarter, compared to analyst estimates of $262.92 million. BOX had a net margin of 13.13% and a negative return on equity of 11.71%. On average, sell-side analysts expect that BOX will post 0.15 EPS for the current year.

Insider Buying and Selling

In other BOX news, CEO Aaron Levie sold 10,000 shares of the stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $29.47, for a total transaction of $294,700.00. Following the completion of the transaction, the chief executive officer now owns 3,048,653 shares in the company, valued at approximately $89,843,803.91. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other BOX news, CEO Aaron Levie sold 10,000 shares of the stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $29.47, for a total transaction of $294,700.00. Following the completion of the transaction, the chief executive officer now owns 3,048,653 shares in the company, valued at approximately $89,843,803.91. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Dylan C. Smith sold 13,000 shares of the stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $26.08, for a total value of $339,040.00. Following the transaction, the chief financial officer now owns 1,565,912 shares of the company’s stock, valued at approximately $40,838,984.96. The disclosure for this sale can be found here. In the last quarter, insiders have sold 133,660 shares of company stock valued at $3,774,134. 4.10% of the stock is owned by company insiders.

Hedge Funds Weigh In On BOX

Several hedge funds have recently modified their holdings of BOX. DekaBank Deutsche Girozentrale bought a new position in shares of BOX in the 3rd quarter valued at about $38,000. a16z Perennial Management L.P. bought a new position in shares of BOX in the 4th quarter valued at about $48,000. TFO Wealth Partners LLC grew its holdings in shares of BOX by 62,000.0% in the 4th quarter. TFO Wealth Partners LLC now owns 1,863 shares of the software maker’s stock valued at $48,000 after acquiring an additional 1,860 shares in the last quarter. Covestor Ltd grew its holdings in shares of BOX by 27.3% in the 1st quarter. Covestor Ltd now owns 4,312 shares of the software maker’s stock valued at $122,000 after acquiring an additional 924 shares in the last quarter. Finally, Blue Trust Inc. grew its holdings in shares of BOX by 17.0% in the 4th quarter. Blue Trust Inc. now owns 6,165 shares of the software maker’s stock valued at $149,000 after acquiring an additional 897 shares in the last quarter. Institutional investors own 86.74% of the company’s stock.

About BOX

(Get Free Report)

Box, Inc provides a cloud content management platform that enables organizations of various sizes to manage and share their content from anywhere on any device. The company's Software-as-a-Service platform enables users to work with their content as they need from secure external collaboration and sharing, workspaces and portals, e-signature processes, and content workflows improving employee productivity and accelerating business processes.

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Analyst Recommendations for BOX (NYSE:BOX)

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