A number of other equities analysts have also recently weighed in on the stock. Pacific Crest reissued a buy rating and set a $25.00 price target (up from $21.00) on shares of Box in a research report on Sunday, March 5th. Oppenheimer Holdings Inc. set a $21.00 price target on shares of Box and gave the stock a buy rating in a research report on Thursday, March 2nd. FIG Partners reissued an outperform rating on shares of Box in a research report on Thursday, March 2nd. Drexel Hamilton lifted their price target on shares of Box from $22.00 to $26.00 and gave the stock a positive rating in a research report on Thursday, March 2nd. Finally, Canaccord Genuity reissued a buy rating and set a $19.00 price target on shares of Box in a research report on Friday, February 24th. Seven analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Box currently has a consensus rating of Buy and an average target price of $19.37.
Box (NYSE:BOX) opened at 16.78 on Thursday. Box has a 52-week low of $9.86 and a 52-week high of $18.36. The firm’s market capitalization is $2.18 billion. The firm’s 50-day moving average is $17.42 and its 200 day moving average is $15.58.
Box (NYSE:BOX) last announced its quarterly earnings results on Wednesday, March 1st. The company reported ($0.10) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.04. The company had revenue of $109.93 million for the quarter, compared to analysts’ expectations of $108.86 million. Box had a negative net margin of 44.23% and a negative return on equity of 144.98%. The business’s quarterly revenue was up 29.4% compared to the same quarter last year. During the same period last year, the firm posted ($0.26) earnings per share. Equities analysts anticipate that Box will post ($0.47) EPS for the current year.
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In other Box news, Director Rory O’driscoll sold 640,797 shares of the business’s stock in a transaction dated Monday, January 9th. The shares were sold at an average price of $14.77, for a total transaction of $9,464,571.69. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 22.30% of the company’s stock.
Large investors have recently modified their holdings of the company. First Trust Advisors LP acquired a new stake in shares of Box during the third quarter valued at approximately $31,536,000. UBS Oconnor LLC boosted its stake in shares of Box by 10.1% in the third quarter. UBS Oconnor LLC now owns 1,729,140 shares of the company’s stock valued at $27,251,000 after buying an additional 159,070 shares during the period. Sapphire Ventures L.L.C. acquired a new stake in shares of Box during the fourth quarter valued at approximately $17,935,000. Marshall Wace LLP acquired a new stake in shares of Box during the fourth quarter valued at approximately $14,820,000. Finally, State Street Corp boosted its stake in shares of Box by 5.8% in the fourth quarter. State Street Corp now owns 825,560 shares of the company’s stock valued at $11,442,000 after buying an additional 45,024 shares during the period. 27.65% of the stock is currently owned by hedge funds and other institutional investors.
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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