Morgan Stanley Has Lowered Expectations for BOX (NYSE:BOX) Stock Price

BOX (NYSE:BOX) had its target price reduced by equities research analysts at Morgan Stanley from $38.00 to $33.00 in a research report issued on Thursday,Benzinga reports. The brokerage currently has an “equal weight” rating on the software maker’s stock. Morgan Stanley’s price target points to a potential upside of 32.66% from the company’s previous close.

Several other equities research analysts have also issued reports on the stock. Citigroup lowered their target price on shares of BOX from $40.00 to $36.00 and set a “buy” rating on the stock in a research note on Wednesday, March 4th. UBS Group cut their price target on BOX from $31.00 to $28.00 and set a “hold” rating for the company in a research note on Wednesday, March 4th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of BOX in a report on Monday, December 29th. Finally, DA Davidson reiterated a “buy” rating and set a $45.00 price target on shares of BOX in a research report on Wednesday, December 3rd. Four analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $35.57.

BOX Stock Up 0.7%

BOX stock opened at $24.88 on Thursday. The business’s 50-day moving average price is $25.35 and its 200 day moving average price is $29.43. The firm has a market cap of $3.56 billion, a price-to-earnings ratio of 42.16, a price-to-earnings-growth ratio of 1.21 and a beta of 0.80. BOX has a 52 week low of $21.61 and a 52 week high of $38.80.

BOX (NYSE:BOX) last released its quarterly earnings data on Tuesday, March 3rd. The software maker reported $0.49 EPS for the quarter, topping the consensus estimate of $0.33 by $0.16. The business had revenue of $305.88 million for the quarter, compared to analyst estimates of $305.64 million. BOX had a negative return on equity of 23.61% and a net margin of 9.80%.The business’s quarterly revenue was up 9.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.42 EPS. Equities analysts expect that BOX will post 0.27 EPS for the current year.

Insider Buying and Selling at BOX

In other BOX news, CEO Aaron Levie sold 15,000 shares of the stock in a transaction dated Tuesday, March 10th. The shares were sold at an average price of $24.72, for a total value of $370,800.00. Following the completion of the sale, the chief executive officer owned 2,907,030 shares in the company, valued at approximately $71,861,781.60. This represents a 0.51% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Eli Berkovitch sold 5,163 shares of the firm’s stock in a transaction that occurred on Monday, December 15th. The stock was sold at an average price of $29.96, for a total transaction of $154,683.48. Following the completion of the transaction, the vice president directly owned 123,684 shares in the company, valued at $3,705,572.64. This trade represents a 4.01% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 84,999 shares of company stock valued at $2,245,779. Corporate insiders own 3.90% of the company’s stock.

Institutional Investors Weigh In On BOX

A number of large investors have recently made changes to their positions in the stock. XTX Topco Ltd increased its holdings in shares of BOX by 283.2% in the fourth quarter. XTX Topco Ltd now owns 99,652 shares of the software maker’s stock valued at $2,981,000 after purchasing an additional 73,645 shares during the last quarter. Voloridge Investment Management LLC boosted its stake in BOX by 76.2% during the fourth quarter. Voloridge Investment Management LLC now owns 681,785 shares of the software maker’s stock worth $20,392,000 after buying an additional 294,954 shares during the last quarter. Toronto Dominion Bank acquired a new position in BOX during the fourth quarter worth $60,000. Tudor Investment Corp ET AL grew its holdings in BOX by 294.9% in the 4th quarter. Tudor Investment Corp ET AL now owns 449,973 shares of the software maker’s stock valued at $13,459,000 after buying an additional 336,023 shares in the last quarter. Finally, Numerai GP LLC increased its stake in shares of BOX by 152.4% in the 4th quarter. Numerai GP LLC now owns 46,524 shares of the software maker’s stock worth $1,392,000 after acquiring an additional 28,091 shares during the last quarter. 86.74% of the stock is currently owned by hedge funds and other 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.