Zacks Investment Research upgraded shares of Box, Inc. (NYSE:BOX) from a hold rating to a buy rating in a report issued on Tuesday morning. Zacks Investment Research currently has $17.00 price objective on the stock.
According to Zacks, “Box, Inc. is a provider of a cloud -based product platform. Its solution include Box OneCloud, FTP alternative, document management, executive boardroom, project management, virtual data room, marketing asset management, sales portal and secure enterprise mobility. The company’s platform offers content management and collaboration, storing, sharing and managing files. It serves advertising, construction, consumer packaged goods, education, energy, financial services and insurance, government, healthcare and life sciences, high tech, legal, manufacturing, media and entertainment as well as retail industry. Box, Inc. is headquartered in Los Altos, California. “
A number of other research analysts have also weighed in on BOX. Canaccord Genuity reissued a buy rating and set a $17.00 target price on shares of Box in a research report on Tuesday, September 13th. Mitsubishi UFJ Financial Group initiated coverage on shares of Box in a report on Friday, September 16th. They set a neutral rating and a $15.00 price objective on the stock. Drexel Hamilton restated a buy rating and set a $18.00 price objective on shares of Box in a report on Friday, September 16th. Vetr downgraded shares of Box from a strong-buy rating to a buy rating and set a $16.45 price objective on the stock. in a report on Monday, September 19th. Finally, Credit Suisse Group restated a neutral rating on shares of Box in a report on Monday, September 19th. One analyst has rated the stock with a sell rating, six have given a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. Box currently has an average rating of Buy and an average target price of $18.30.
Shares of Box (NYSE:BOX) traded up 5.839% during trading on Tuesday, reaching $16.405. 2,394,800 shares of the company’s stock were exchanged. Box has a 52-week low of $8.82 and a 52-week high of $16.59. The company has a 50 day moving average price of $14.64 and a 200-day moving average price of $13.67. The company’s market capitalization is $2.10 billion.
Box (NYSE:BOX) last released its earnings results on Wednesday, November 30th. The company reported ($0.14) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.19) by $0.05. The firm earned $102.80 million during the quarter, compared to analyst estimates of $103.34 million. Box had a negative net margin of 44.23% and a negative return on equity of 144.98%. The business’s revenue was up 30.6% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.31) EPS. On average, equities analysts forecast that Box will post ($0.60) earnings per share for the current year.
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In other Box news, Director Rory O’driscoll sold 43,703 shares of the company’s stock in a transaction dated Tuesday, December 13th. The shares were sold at an average price of $14.66, for a total transaction of $640,685.98. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 22.30% of the company’s stock.
A number of hedge funds have recently modified their holdings of the company. Peloton Wealth Strategists purchased a new stake in shares of Box during the third quarter valued at $1,278,000. Credit Suisse AG raised its position in shares of Box by 69.0% in the third quarter. Credit Suisse AG now owns 214,539 shares of the company’s stock worth $3,381,000 after buying an additional 87,572 shares during the last quarter. D. E. Shaw & Co. Inc. bought a new position in shares of Box during the third quarter worth about $772,000. Gotham Asset Management LLC bought a new position in shares of Box during the third quarter worth about $463,000. Finally, The Manufacturers Life Insurance Company bought a new position in shares of Box during the third quarter worth about $571,000. 27.18% 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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