Oppenheimer Holdings, Inc. reaffirmed their outperform rating on shares of Box, Inc. (NYSE:BOX) in a report issued on Sunday, September 3rd. Oppenheimer Holdings, Inc. currently has a $22.00 price target on the software maker’s stock.
Several other research firms also recently issued reports on BOX. BidaskClub upgraded Box from a hold rating to a buy rating in a research note on Wednesday, August 23rd. Wells Fargo & Company reiterated an outperform rating and set a $27.00 price target (up previously from $24.00) on shares of Box in a research note on Thursday, June 1st. Morgan Stanley reiterated an equal weight rating and set a $20.00 price target (up previously from $19.00) on shares of Box in a research note on Thursday, June 1st. Mitsubishi UFJ Financial Group upgraded Box from a neutral rating to an overweight rating and upped their price target for the stock from $17.50 to $23.00 in a research note on Thursday, June 1st. Finally, Rosenblatt Securities reiterated a buy rating and set a $25.00 price target on shares of Box in a research note on Friday, September 1st. Five research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. The company has an average rating of Buy and an average target price of $22.52.
Box (BOX) traded down 2.07% during trading on Friday, reaching $17.47. 2,882,586 shares of the company’s stock were exchanged. The stock has a 50-day moving average of $18.44 and a 200-day moving average of $18.44. The stock’s market capitalization is $2.32 billion. Box has a 52 week low of $13.56 and a 52 week high of $18.81.
Box (NYSE:BOX) last issued its earnings results on Wednesday, August 30th. The software maker reported ($0.11) EPS for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.02. Box had a negative return on equity of 232.81% and a negative net margin of 34.11%. The firm had revenue of $122.94 million for the quarter, compared to the consensus estimate of $121.75 million. During the same quarter in the previous year, the company posted ($0.14) earnings per share. The business’s quarterly revenue was up 28.4% compared to the same quarter last year. On average, equities research analysts anticipate that Box will post ($0.45) EPS for the current year.
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In other news, major shareholder Fisher Jurvetson Fund V. Draper sold 320,000 shares of the stock in a transaction that occurred on Wednesday, July 5th. The stock was sold at an average price of $18.07, for a total value of $5,782,400.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Rory O’driscoll sold 233,066 shares of the stock in a transaction that occurred on Tuesday, September 19th. The stock was sold at an average price of $18.41, for a total value of $4,290,745.06. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,095,266 shares of company stock valued at $20,427,019. Insiders own 22.30% of the company’s stock.
Several institutional investors and hedge funds have recently modified their holdings of the company. Vanguard Group Inc. raised its holdings in shares of Box by 79.0% in the 2nd quarter. Vanguard Group Inc. now owns 7,977,960 shares of the software maker’s stock worth $145,518,000 after buying an additional 3,521,030 shares in the last quarter. Bares Capital Management Inc. raised its holdings in shares of Box by 2.7% in the 1st quarter. Bares Capital Management Inc. now owns 5,926,050 shares of the software maker’s stock worth $96,654,000 after buying an additional 157,644 shares in the last quarter. Wells Fargo & Company MN raised its holdings in shares of Box by 3,627.5% in the 2nd quarter. Wells Fargo & Company MN now owns 3,462,849 shares of the software maker’s stock worth $63,162,000 after buying an additional 3,369,948 shares in the last quarter. First Trust Advisors LP raised its holdings in shares of Box by 32.2% in the 2nd quarter. First Trust Advisors LP now owns 2,859,338 shares of the software maker’s stock worth $52,154,000 after buying an additional 697,214 shares in the last quarter. Finally, Renaissance Technologies LLC raised its holdings in shares of Box by 62.5% in the 2nd quarter. Renaissance Technologies LLC now owns 2,510,200 shares of the software maker’s stock worth $45,786,000 after buying an additional 965,800 shares in the last quarter. 57.40% of the stock is owned by institutional investors and hedge funds.
Box Company Profile
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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