Box Inc. (BOX) Stock Rating Upgraded by Vetr Inc.
Box Inc. (NYSE:BOX) was upgraded by stock analysts at Vetr from a “buy” rating to a “strong-buy” rating in a research note issued to investors on Tuesday. The firm currently has a $17.24 price objective on the stock. Vetr‘s price objective suggests a potential upside of 13.20% from the company’s current price.
A number of other equities analysts also recently commented on the company. 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. reiterated a “buy” rating and issued a $18.00 price target 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 report on Friday, August 5th. Pacific Crest reissued a “buy” rating and issued a $21.00 target price on shares of Box in a report on Friday, September 30th. Finally, Oppenheimer Holdings Inc. reissued an “outperform” rating and issued a $18.00 target price on shares of Box in a report on Monday, August 15th. One analyst has rated the stock with a sell rating, five have issued a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $17.95.
Box (NYSE:BOX) traded down 2.68% during midday trading on Tuesday, hitting $15.23. The company had a trading volume of 952,956 shares. The company’s 50 day moving average is $14.59 and its 200 day moving average is $12.49. Box has a 12-month low of $8.82 and a 12-month high of $16.59. The stock’s market cap is $1.93 billion.
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Box (NYSE:BOX) last posted its quarterly earnings results on Wednesday, August 31st. The company reported ($0.14) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.19) by $0.05. The business 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 company’s revenue for the quarter was up 30.2% compared to the same quarter last year. During the same period last year, the firm earned ($0.28) earnings per share. On average, equities analysts anticipate that Box will post ($0.68) EPS for the current fiscal year.
In other Box news, VP Jeff Mannie sold 3,756 shares of Box stock in a transaction that occurred on Monday, September 26th. The shares were sold at an average price of $14.67, for a total value of $55,100.52. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, COO Daniel J. Levin sold 5,000 shares of Box stock in a transaction that occurred on Tuesday, September 6th. The stock was sold at an average price of $14.35, for a total transaction of $71,750.00. Following the completion of the transaction, the chief operating officer now owns 3,079 shares in the company, valued at approximately $44,183.65. The disclosure for this sale can be found here. Corporate insiders own 22.30% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Parametric Portfolio Associates LLC acquired a new position in Box during the second quarter valued at about $108,000. Royal Bank of Canada raised its position in Box by 83.0% in the first quarter. Royal Bank of Canada now owns 10,986 shares of the company’s stock valued at $134,000 after buying an additional 4,983 shares during the period. Capstone Investment Advisors LLC acquired a new position in Box during the second quarter valued at about $129,000. Quantbot Technologies LP raised its position in Box by 11.7% in the second quarter. Quantbot Technologies LP now owns 17,786 shares of the company’s stock valued at $183,000 after buying an additional 1,860 shares during the period. Finally, Oppenheimer & Co. Inc. acquired a new position in Box during the second quarter valued at about $192,000. 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.
To view Vetr’s full report, visit Vetr’s official website.
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