Box, Inc. (NYSE:BOX) Receives Average Recommendation of “Moderate Buy” from Brokerages

Box, Inc. (NYSE:BOX) has been assigned a consensus rating of “Moderate Buy” from the eleven ratings firms that are presently covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and seven have issued a buy recommendation on the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $30.33.

A number of analysts recently commented on the stock. Oppenheimer reissued an “outperform” rating and set a $35.00 price objective on shares of BOX in a report on Wednesday, May 29th. StockNews.com upgraded BOX from a “buy” rating to a “strong-buy” rating in a report on Thursday, August 15th. Morgan Stanley reduced their price objective on BOX from $32.00 to $30.00 and set an “equal weight” rating for the company in a report on Wednesday, May 29th. Royal Bank of Canada reissued an “underperform” rating and issued a $21.00 target price on shares of BOX in a report on Wednesday, May 29th. Finally, UBS Group cut their price target on BOX from $34.00 to $31.00 and set a “buy” rating for the company in a research note on Wednesday, May 29th.

BOX Trading Down 0.3 %

Shares of BOX stock opened at $28.26 on Friday. The stock has a 50 day simple moving average of $26.67 and a 200-day simple moving average of $26.95. The company has a market cap of $4.08 billion, a price-to-earnings ratio of 38.71 and a beta of 0.86. BOX has a 12-month low of $23.29 and a 12-month high of $30.94.

BOX (NYSE:BOX) last announced its quarterly earnings data on Tuesday, May 28th. The software maker reported $0.05 earnings per share for the quarter, topping analysts’ consensus estimates of $0.02 by $0.03. BOX had a negative return on equity of 11.71% and a net margin of 13.13%. The firm had revenue of $264.66 million for the quarter, compared to analyst estimates of $261.65 million. On average, equities analysts forecast that BOX will post 0.19 earnings per share for the current fiscal year.

Insider Buying and Selling at BOX

In other news, CFO Dylan C. Smith sold 13,000 shares of the business’s stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $27.05, for a total value of $351,650.00. Following the completion of the transaction, the chief financial officer now owns 1,513,661 shares of the company’s stock, valued at $40,944,530.05. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other news, CFO Dylan C. Smith sold 13,000 shares of the firm’s stock in a transaction on Friday, August 9th. The stock was sold at an average price of $27.05, for a total transaction of $351,650.00. Following the sale, the chief financial officer now owns 1,513,661 shares in the company, valued at $40,944,530.05. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Eli Berkovitch sold 2,500 shares of BOX stock in a transaction on Tuesday, July 9th. The shares were sold at an average price of $25.25, for a total value of $63,125.00. Following the completion of the sale, the vice president now directly owns 147,232 shares of the company’s stock, valued at approximately $3,717,608. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 59,560 shares of company stock worth $1,556,440. Corporate insiders own 4.10% of the company’s stock.

Hedge Funds Weigh In On BOX

Institutional investors and hedge funds have recently bought and sold shares of the stock. Cornercap Investment Counsel Inc. grew its stake in shares of BOX by 2.1% during the 4th quarter. Cornercap Investment Counsel Inc. now owns 18,189 shares of the software maker’s stock valued at $466,000 after buying an additional 376 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd boosted its holdings in BOX by 3.7% in the second quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 15,831 shares of the software maker’s stock valued at $419,000 after acquiring an additional 560 shares during the last quarter. Connable Office Inc. grew its position in BOX by 3.8% during the second quarter. Connable Office Inc. now owns 15,707 shares of the software maker’s stock valued at $415,000 after acquiring an additional 573 shares during the period. Nisa Investment Advisors LLC increased its stake in BOX by 31.7% during the second quarter. Nisa Investment Advisors LLC now owns 2,627 shares of the software maker’s stock worth $69,000 after acquiring an additional 632 shares during the last quarter. Finally, Renaissance Group LLC raised its holdings in shares of BOX by 1.0% in the 4th quarter. Renaissance Group LLC now owns 70,731 shares of the software maker’s stock worth $1,812,000 after purchasing an additional 671 shares during the period. Institutional investors and hedge funds own 86.74% of the company’s stock.

About BOX

Box, Inc provides a cloud content management platform that enables organizations of various sizes to manage and share their content from anywhere on any device. The company's Software-as-a-Service platform enables users to work with their content as they need from secure external collaboration and sharing, workspaces and portals, e-signature processes, and content workflows improving employee productivity and accelerating business processes.