Box, Inc. (NYSE:BOX) Given Consensus Rating of “Buy” by Analysts

Box, Inc. (NYSE:BOX – Get Rating) has been assigned a consensus recommendation of “Buy” from the twelve brokerages that are presently covering the stock, Marketbeat reports. Four analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating on the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $31.40.

Several equities research analysts have weighed in on the company. KeyCorp upped their price target on BOX from $30.00 to $32.00 and gave the stock an “overweight” rating in a report on Thursday, March 3rd. StockNews.com assumed coverage on BOX in a report on Thursday, March 31st. They set a “strong-buy” rating on the stock. Oppenheimer restated an “outperform” rating and set a $30.00 price target on shares of BOX in a report on Friday, March 18th. JPMorgan Chase & Co. upgraded BOX from an “underweight” rating to a “neutral” rating and upped their price target for the stock from $22.00 to $28.00 in a report on Thursday, March 3rd. Finally, Morgan Stanley upped their price objective on BOX from $30.00 to $32.00 and gave the stock an “equal weight” rating in a research report on Thursday, March 3rd.

Shares of BOX stock traded up $0.46 on Tuesday, hitting $32.12. The stock had a trading volume of 43,920 shares, compared to its average volume of 1,774,462. The firm has a market capitalization of $4.61 billion, a P/E ratio of -92.09 and a beta of 1.28. BOX has a 1 year low of $20.36 and a 1 year high of $31.85. The company’s 50 day moving average price is $27.49 and its 200-day moving average price is $26.29.

BOX (NYSE:BOX – Get Rating) last issued its quarterly earnings results on Wednesday, March 2nd. The software maker reported $0.24 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.23 by $0.01. BOX had a negative return on equity of 48.70% and a negative net margin of 4.74%. The company had revenue of $233.36 million for the quarter, compared to the consensus estimate of $228.60 million. During the same quarter in the prior year, the business earned ($0.02) EPS. BOX’s revenue was up 17.3% on a year-over-year basis. Equities analysts forecast that BOX will post -0.12 earnings per share for the current fiscal year.

In related news, VP Eli Berkovitch sold 8,000 shares of the company’s stock in a transaction dated Monday, March 28th. The stock was sold at an average price of $28.36, for a total value of $226,880.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Dylan C. Smith sold 15,000 shares of the company’s stock in a transaction dated Thursday, February 10th. The shares were sold at an average price of $27.00, for a total value of $405,000.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 38,000 shares of company stock valued at $1,061,180. Insiders own 6.20% of the company’s stock.

A number of institutional investors have recently bought and sold shares of BOX. Morgan Stanley lifted its position in BOX by 23.6% during the 2nd quarter. Morgan Stanley now owns 2,615,252 shares of the software maker’s stock worth $66,819,000 after acquiring an additional 500,169 shares during the period. Strs Ohio lifted its position in BOX by 7.7% during the 3rd quarter. Strs Ohio now owns 7,000 shares of the software maker’s stock worth $165,000 after acquiring an additional 500 shares during the period. State of New Jersey Common Pension Fund D lifted its position in BOX by 0.6% during the 3rd quarter. State of New Jersey Common Pension Fund D now owns 106,895 shares of the software maker’s stock worth $2,530,000 after acquiring an additional 642 shares during the period. WINTON GROUP Ltd lifted its position in BOX by 26.3% during the 3rd quarter. WINTON GROUP Ltd now owns 44,373 shares of the software maker’s stock worth $1,050,000 after acquiring an additional 9,238 shares during the period. Finally, Vontobel Holding Ltd. lifted its position in BOX by 1.8% during the 3rd quarter. Vontobel Holding Ltd. now owns 33,493 shares of the software maker’s stock worth $793,000 after acquiring an additional 596 shares during the period. 85.00% of the stock is owned by institutional investors.

About BOX (Get Rating)

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 collaborate on content internally and with external parties, automate content-driven business processes, develop custom applications, and implement data protection, security, and compliance features to comply with legal and regulatory requirements, internal policies, and industry standards and regulations.

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