Box Inc (BOX) Receives Average Rating of “Buy” from Brokerages

Shares of Box Inc (NYSE:BOX) have been given an average recommendation of “Buy” by the nineteen research firms that are presently covering the stock. Seven investment 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. The average twelve-month price objective among analysts that have covered the stock in the last year is $18.47.

A number of research firms recently weighed in on BOX. Zacks Investment Research upgraded shares of Box from a “hold” rating to a “buy” rating and set a $19.00 target price on the stock in a research note on Monday, January 16th. Oppenheimer Holdings Inc. set a $18.00 target price on shares of Box and gave the stock a “buy” rating in a research note on Monday, January 9th. Pacific Crest reaffirmed a “buy” rating and issued a $25.00 price target (up from $21.00) on shares of Box in a report on Sunday, March 5th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $25.00 price target on shares of Box in a report on Tuesday, February 21st. Finally, Drexel Hamilton reissued a “buy” rating on shares of Box in a report on Tuesday, January 3rd.

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In other news, Director Rory O’driscoll sold 319,228 shares of the business’s stock in a transaction that occurred on Wednesday, March 29th. The stock was sold at an average price of $16.58, for a total value of $5,292,800.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Daniel J. Levin sold 20,000 shares of the business’s stock in a transaction that occurred on Wednesday, April 5th. The shares were sold at an average price of $17.00, for a total value of $340,000.00. Following the transaction, the chief operating officer now owns 3,752 shares of the company’s stock, valued at approximately $63,784. The disclosure for this sale can be found here. Insiders have sold a total of 731,186 shares of company stock worth $12,111,508 over the last 90 days. 22.30% of the stock is owned by company insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Creative Planning raised its position in shares of Box by 2.3% in the third quarter. Creative Planning now owns 45,061 shares of the software maker’s stock worth $710,000 after buying an additional 1,020 shares during the period. K.J. Harrison & Partners Inc purchased a new stake in shares of Box during the third quarter valued at $252,000. Swiss National Bank raised its stake in shares of Box by 52.7% in the third quarter. Swiss National Bank now owns 69,000 shares of the software maker’s stock valued at $1,087,000 after buying an additional 23,800 shares during the period. Marcus Capital LLC raised its stake in shares of Box by 0.6% in the third quarter. Marcus Capital LLC now owns 118,900 shares of the software maker’s stock valued at $1,874,000 after buying an additional 700 shares during the period. Finally, BlackRock Investment Management LLC raised its stake in shares of Box by 0.3% in the third quarter. BlackRock Investment Management LLC now owns 180,781 shares of the software maker’s stock worth $2,849,000 after buying an additional 506 shares during the period. Institutional investors own 27.65% of the company’s stock.

Shares of Box (NYSE:BOX) traded down 0.77% on Thursday, reaching $16.80. 565,860 shares of the company’s stock traded hands. The firm’s 50-day moving average is $16.64 and its 200-day moving average is $15.94. Box has a 52-week low of $9.86 and a 52-week high of $18.36. The stock’s market cap is $2.14 billion.

Box (NYSE:BOX) last announced its quarterly earnings results on Wednesday, March 1st. The software maker reported ($0.10) earnings per share for the quarter, beating the consensus estimate of ($0.14) by $0.04. The firm 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 company’s revenue was up 29.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.26) EPS. Analysts anticipate that Box will post ($0.47) EPS for the current fiscal year.

About Box

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.