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

Box, Inc. (NYSE:BOX) has earned an average rating of “Moderate Buy” from the ten brokerages that are presently covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have given a buy rating to the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $31.22.

Several research firms have recently commented on BOX. Citigroup boosted their price objective on BOX from $32.00 to $34.00 and gave the company a “buy” rating in a report on Wednesday, August 28th. Monness Crespi & Hardt upgraded shares of BOX to a “hold” rating in a research note on Friday, August 16th. UBS Group raised their price objective on shares of BOX from $31.00 to $34.00 and gave the company a “buy” rating in a research note on Wednesday, August 28th. StockNews.com upgraded shares of BOX from a “buy” rating to a “strong-buy” rating in a report on Thursday, August 15th. Finally, Royal Bank of Canada reaffirmed an “underperform” rating and issued a $21.00 price target on shares of BOX in a research report on Wednesday, August 28th.

Insider Buying and Selling

In other BOX news, Director Jack R. Lazar sold 7,000 shares of the firm’s stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $32.68, for a total value of $228,760.00. Following the completion of the sale, the director now directly owns 29,197 shares of the company’s stock, valued at $954,157.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, CFO Dylan C. Smith sold 13,000 shares of the firm’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 directly owns 1,513,661 shares of the company’s stock, valued at approximately $40,944,530.05. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Jack R. Lazar sold 7,000 shares of the business’s stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $32.68, for a total transaction of $228,760.00. Following the sale, the director now directly owns 29,197 shares in the company, valued at approximately $954,157.96. The disclosure for this sale can be found here. In the last quarter, insiders have sold 53,560 shares of company stock valued at $1,442,260. 4.10% of the stock is owned by company insiders.

Hedge Funds Weigh In On BOX

Several hedge funds have recently made changes to their positions in BOX. Quarry LP lifted its holdings in BOX by 324.6% during the 2nd quarter. Quarry LP now owns 1,418 shares of the software maker’s stock worth $37,000 after purchasing an additional 1,084 shares in the last quarter. TFO Wealth Partners LLC increased its position in shares of BOX by 62,000.0% during the fourth quarter. TFO Wealth Partners LLC now owns 1,863 shares of the software maker’s stock valued at $48,000 after buying an additional 1,860 shares during the period. Toronto Dominion Bank purchased a new stake in shares of BOX in the second quarter worth about $53,000. Nisa Investment Advisors LLC boosted its position in shares of BOX by 31.7% in the second quarter. Nisa Investment Advisors LLC now owns 2,627 shares of the software maker’s stock valued at $69,000 after acquiring an additional 632 shares during the period. Finally, Quest Partners LLC bought a new stake in BOX during the 2nd quarter worth approximately $95,000. 86.74% of the stock is currently owned by hedge funds and other institutional investors.

BOX Stock Up 0.3 %

BOX stock opened at $32.53 on Tuesday. The company has a market capitalization of $4.66 billion, a PE ratio of 44.56 and a beta of 0.85. The firm’s fifty day moving average is $28.12 and its 200 day moving average is $27.42. BOX has a 12-month low of $23.29 and a 12-month high of $33.45.

BOX (NYSE:BOX) last announced its quarterly earnings data on Tuesday, August 27th. The software maker reported $0.44 earnings per share for the quarter, beating the consensus estimate of $0.40 by $0.04. The firm had revenue of $270.04 million for the quarter, compared to analyst estimates of $269.52 million. BOX had a net margin of 13.94% and a negative return on equity of 14.41%. The business’s quarterly revenue was up 3.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.01 earnings per share. Sell-side analysts expect that BOX will post 0.2 EPS for the current fiscal year.

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.