BOX (NYSE:BOX) Raised to Strong-Buy at Wall Street Zen

BOX (NYSE:BOX) was upgraded by research analysts at Wall Street Zen from a “hold” rating to a “strong-buy” rating in a research report issued on Saturday.

Other analysts also recently issued research reports about the stock. DA Davidson reissued a “buy” rating and set a $45.00 price target on shares of BOX in a research report on Wednesday, December 3rd. UBS Group cut their price target 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. Weiss Ratings reiterated a “hold (c+)” rating on shares of BOX in a research note on Monday, December 29th. Morgan Stanley decreased their price objective on shares of BOX from $38.00 to $33.00 and set an “equal weight” rating for the company in a report on Thursday. Finally, Citigroup dropped their target price on shares of BOX from $40.00 to $36.00 and set a “buy” rating for the company in a research report on Wednesday, March 4th. Four 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. Based on data from MarketBeat.com, BOX has an average rating of “Hold” and an average price target of $35.57.

BOX Stock Performance

Shares of BOX opened at $24.88 on Friday. The company has a market capitalization of $3.56 billion, a P/E ratio of 42.16, a P/E/G ratio of 1.22 and a beta of 0.80. 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 $25.35 and a 200 day moving average price of $29.40.

BOX (NYSE:BOX) last posted its quarterly earnings data on Tuesday, March 3rd. The software maker reported $0.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.33 by $0.16. BOX had a negative return on equity of 23.61% and a net margin of 9.80%.The company had revenue of $305.88 million for the quarter, compared to the consensus estimate of $305.64 million. During the same period in the previous year, the business earned $0.42 EPS. BOX’s revenue for the quarter was up 9.4% compared to the same quarter last year. As a group, equities research analysts forecast that BOX will post 0.27 earnings per share for the current fiscal year.

Insider Activity

In other BOX news, CFO Dylan C. Smith sold 17,000 shares of BOX stock in a transaction on Tuesday, March 10th. The shares were sold at an average price of $24.72, for a total value of $420,240.00. Following the completion of the transaction, the chief financial officer owned 1,294,195 shares of the company’s stock, valued at $31,992,500.40. The trade was a 1.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Aaron Levie sold 15,000 shares of the business’s stock in a transaction on Tuesday, March 10th. The shares were sold at an average price of $24.72, for a total transaction of $370,800.00. Following the sale, the chief executive officer owned 2,907,030 shares of the company’s stock, valued at approximately $71,861,781.60. The trade was a 0.51% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 79,836 shares of company stock worth $2,091,096. 3.90% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of BOX. Northwestern Mutual Wealth Management Co. boosted its holdings in shares of BOX by 823,134.5% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 3,054,200 shares of the software maker’s stock valued at $91,351,000 after buying an additional 3,053,829 shares during the period. Norges Bank acquired a new stake in BOX during the fourth quarter worth about $58,814,000. Qube Research & Technologies Ltd lifted its holdings in BOX by 240.6% in the second quarter. Qube Research & Technologies Ltd now owns 1,210,237 shares of the software maker’s stock worth $41,354,000 after acquiring an additional 854,953 shares during the last quarter. Cubist Systematic Strategies LLC bought a new position in BOX in the second quarter worth about $22,626,000. Finally, Mizuho Markets Americas LLC bought a new position in BOX in the third quarter worth about $20,851,000. 86.74% of the stock is currently owned by 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.