Box Inc. (NYSE:BOX) was downgraded by stock analysts at Vetr from a “buy” rating to a “hold” rating in a research report issued on Thursday. They presently have a $11.67 price objective on the stock. Vetr‘s price objective suggests a potential downside of 0.85% from the company’s previous close.
Other hedge funds have recently made changes to their positions in the company. BlackRock Group LTD raised its stake in shares of Box by 78.3% in the first quarter. BlackRock Group LTD now owns 9,725 shares of the company’s stock worth $119,000 after buying an additional 4,270 shares during the last quarter. Squarepoint Ops LLC bought a new stake in shares of Box during the first quarter valued at approximately $126,000. Royal Bank of Canada boosted its stake in shares of Box by 83.0% in the first quarter. Royal Bank of Canada now owns 10,986 shares of the company’s stock valued at $134,000 after buying an additional 4,983 shares during the last quarter. Carl Domino Inc boosted its stake in shares of Box by 33.3% in the second quarter. Carl Domino Inc now owns 24,000 shares of the company’s stock valued at $248,000 after buying an additional 6,000 shares during the last quarter. Finally, Gradient Investments LLC bought a new stake in shares of Box during the first quarter valued at approximately $355,000.
BOX has been the topic of a number of other research reports. Credit Suisse Group AG restated a “buy” rating on shares of Box in a research report on Thursday, June 2nd. Morgan Stanley restated a “hold” rating and issued a $12.00 price target on shares of Box in a research report on Thursday, June 2nd. Oppenheimer Holdings Inc. restated a “buy” rating and issued a $18.00 price target (down previously from $21.00) on shares of Box in a research report on Thursday, June 2nd. Zacks Investment Research cut Box from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 10th. Finally, Stifel Nicolaus restated a “hold” rating on shares of Box in a research report on Tuesday, April 12th. One research analyst has rated the stock with a sell rating, four have given a hold rating and nine have assigned a buy rating to the company. Box presently has an average rating of “Buy” and a consensus price target of $16.70.
Box (NYSE:BOX) last posted its earnings results on Wednesday, June 1st. The company reported ($0.18) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.24) by $0.06. During the same period in the prior year, the business posted ($0.28) EPS. The firm had revenue of $90.20 million for the quarter, compared to analyst estimates of $88.65 million. The firm’s quarterly revenue was up 37.5% compared to the same quarter last year. On average, equities analysts anticipate that Box will post ($0.76) earnings per share for the current year.
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.
