Morgan Stanley Issues Pessimistic Forecast for BOX (NYSE:BOX) Stock Price

BOX (NYSE:BOX) had its target price decreased by equities research analysts at Morgan Stanley from $38.00 to $33.00 in a research note issued on Thursday,Benzinga reports. The firm currently has an “equal weight” rating on the software maker’s stock. Morgan Stanley’s price target suggests a potential upside of 33.66% from the company’s previous close.

Several other analysts also recently commented on the stock. DA Davidson reaffirmed a “buy” rating and set a $45.00 price objective on shares of BOX in a research report on Wednesday, December 3rd. Weiss Ratings reissued a “hold (c+)” rating on shares of BOX in a research note on Monday, December 29th. Citigroup reduced their price target on shares of BOX from $40.00 to $36.00 and set a “buy” rating for the company in a report on Wednesday, March 4th. Finally, UBS Group dropped their price objective on shares of BOX from $31.00 to $28.00 and set a “hold” rating on the stock in a report on Wednesday, March 4th. Four equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, BOX currently has an average rating of “Hold” and a consensus target price of $35.57.

BOX Trading Up 0.1%

Shares of BOX stock traded up $0.03 during trading on Thursday, reaching $24.69. The company’s stock had a trading volume of 1,194,500 shares, compared to its average volume of 2,772,042. BOX has a one year low of $21.61 and a one year high of $38.80. The stock has a 50-day moving average price of $25.53 and a two-hundred day moving average price of $29.51. The stock has a market capitalization of $3.54 billion, a P/E ratio of 41.90, a price-to-earnings-growth ratio of 1.03 and a beta of 0.80.

BOX (NYSE:BOX) last posted its quarterly earnings data on Tuesday, March 3rd. The software maker reported $0.49 EPS for the quarter, topping analysts’ consensus estimates of $0.33 by $0.16. The firm had revenue of $305.88 million for the quarter, compared to analyst estimates of $305.64 million. BOX had a negative return on equity of 23.61% and a net margin of 9.80%.The company’s revenue was up 9.4% on a year-over-year basis. During the same quarter last year, the company earned $0.42 EPS. As a group, sell-side analysts anticipate that BOX will post 0.27 EPS for the current fiscal year.

Insider Activity

In related news, COO Olivia Nottebohm sold 4,612 shares of BOX stock in a transaction on Friday, March 6th. The stock was sold at an average price of $25.78, for a total transaction of $118,897.36. Following the sale, the chief operating officer directly owned 465,219 shares in the company, valued at approximately $11,993,345.82. This trade represents a 0.98% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Dylan C. Smith sold 17,000 shares of the stock in a transaction dated Friday, January 9th. The shares were sold at an average price of $29.57, for a total transaction of $502,690.00. Following the sale, the chief financial officer directly owned 1,328,195 shares in the company, valued at $39,274,726.15. This trade represents a 1.26% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 52,999 shares of company stock worth $1,454,739 over the last three months. 3.90% of the stock is currently owned by insiders.

Institutional Trading of BOX

Several hedge funds have recently modified their holdings of BOX. XTX Topco Ltd boosted its stake in shares of BOX by 283.2% in the fourth quarter. XTX Topco Ltd now owns 99,652 shares of the software maker’s stock worth $2,981,000 after acquiring an additional 73,645 shares during the last quarter. Voloridge Investment Management LLC increased its stake in BOX by 76.2% in the fourth quarter. Voloridge Investment Management LLC now owns 681,785 shares of the software maker’s stock valued at $20,392,000 after purchasing an additional 294,954 shares during the last quarter. Toronto Dominion Bank acquired a new stake in BOX during the 4th quarter worth approximately $60,000. Tudor Investment Corp ET AL lifted its position in shares of BOX by 294.9% during the 4th quarter. Tudor Investment Corp ET AL now owns 449,973 shares of the software maker’s stock valued at $13,459,000 after acquiring an additional 336,023 shares during the period. Finally, Numerai GP LLC raised its holdings in BOX by 152.4% during the fourth quarter. Numerai GP LLC now owns 46,524 shares of the software maker’s stock worth $1,392,000 after purchasing an additional 28,091 shares during the last quarter. 86.74% of the stock is owned by hedge funds and other institutional investors.

About BOX

Box, Inc is a leading provider of cloud content management and file sharing solutions designed to support enterprises in securely managing, accessing and collaborating on digital content from anywhere. The company offers a unified platform that enables organizations to store, share and automate workflows across various departments, enhancing productivity and ensuring governance over sensitive information. Box’s services are tailored to meet the needs of industries such as healthcare, financial services, government and media, where compliance and data security are paramount.

The core offerings of Box include its Content Cloud platform, which provides content collaboration, workflow automation, data classification and secure file sharing.