Several other research analysts also recently commented on the company. Vetr raised Box from a hold rating to a strong-buy rating and set a $16.50 target price for the company in a research note on Monday, September 5th. Zacks Investment Research downgraded Box from a hold rating to a strong sell rating in a research note on Tuesday, August 16th. Bank of America Corp. reissued a buy rating and set a $18.00 target price on shares of Box in a research note on Monday, August 22nd. Veritas Investment Research reissued a strong-buy rating on shares of Box in a research note on Friday, August 5th. Finally, Oppenheimer Holdings Inc. restated an outperform rating and set a $18.00 price target on shares of Box in a report on Monday, August 15th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. Box has a consensus rating of Buy and an average target price of $17.90.
Shares of Box (NYSE:BOX) opened at 15.21 on Monday. The company has a 50 day moving average of $13.86 and a 200-day moving average of $12.29. Box has a 12 month low of $8.82 and a 12 month high of $15.56. The firm’s market capitalization is $1.93 billion.
Box (NYSE:BOX) last issued its earnings results on Wednesday, August 31st. The company reported ($0.14) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.19) by $0.05. The firm earned $95.70 million during the quarter, compared to the consensus estimate of $94.65 million. Box had a negative return on equity of 133.73% and a negative net margin of 52.12%. The business’s quarterly revenue was up 30.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.28) earnings per share. Analysts predict that Box will post ($0.68) EPS for the current year.
In other Box news, VP Jeff Mannie sold 3,756 shares of the stock in a transaction that occurred on Monday, September 26th. The stock was sold at an average price of $14.67, for a total transaction of $55,100.52. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, COO Daniel J. Levin sold 5,000 shares of the stock in a transaction that occurred on Tuesday, September 27th. The stock was sold at an average price of $14.72, for a total value of $73,600.00. Following the transaction, the chief operating officer now owns 3,752 shares in the company, valued at $55,229.44. The disclosure for this sale can be found here. Company insiders own 22.30% of the company’s stock.
Several institutional investors have recently bought and sold shares of the company. Royal Bank of Canada raised its position in shares of Box by 88.4% in the second quarter. Royal Bank of Canada now owns 20,701 shares of the company’s stock worth $213,000 after buying an additional 9,715 shares during the last quarter. Schwab Charles Investment Management Inc. raised its position in shares of Box by 71.4% in the second quarter. Schwab Charles Investment Management Inc. now owns 137,449 shares of the company’s stock worth $1,422,000 after buying an additional 57,258 shares during the last quarter. Pine River Capital Management L.P. purchased a new position in shares of Box during the second quarter worth $1,706,000. Metropolitan Life Insurance Co. NY purchased a new position in shares of Box during the second quarter worth $372,000. Finally, Cubist Systematic Strategies LLC purchased a new position in shares of Box during the second quarter worth $473,000. Hedge funds and other institutional investors own 26.87% of the company’s stock.
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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