Box, Inc. (BOX) Stock Rating Upgraded by UBS AG
Box, Inc. (NYSE:BOX) was upgraded by stock analysts at UBS AG from a “market perform” rating to an “outperform” rating in a report released on Monday, The Fly reports. The brokerage presently has a $26.00 price objective on the software maker’s stock. UBS AG’s target price would suggest a potential upside of 42.08% from the stock’s current price.
Several other research analysts have also commented on the company. Drexel Hamilton reissued a “buy” rating and set a $28.00 price objective on shares of Box in a report on Monday, August 28th. Rosenblatt Securities reissued a “buy” rating and set a $25.00 price objective on shares of Box in a report on Monday, June 26th. Morgan Stanley reissued an “equal weight” rating and set a $20.00 price objective (up previously from $19.00) on shares of Box in a report on Thursday, June 1st. Mitsubishi UFJ Financial Group raised Box to an “overweight” rating and boosted their price objective for the stock from $23.00 to $24.00 in a report on Thursday, August 31st. Finally, Wells Fargo & Company reissued an “outperform” rating and set a $27.00 price objective (up previously from $24.00) on shares of Box in a report on Thursday, June 1st. Four equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $23.01.
Box (NYSE:BOX) traded up 0.578% during midday trading on Monday, hitting $18.275. 2,353,014 shares of the stock were exchanged. The company’s 50 day moving average is $18.44 and its 200 day moving average is $18.44. The company’s market capitalization is $2.44 billion. Box has a 1-year low of $13.56 and a 1-year high of $18.81.
Box (NYSE:BOX) last announced its quarterly earnings results on Wednesday, August 30th. The software maker reported ($0.11) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.13) by $0.02. Box had a negative return on equity of 232.81% and a negative net margin of 34.11%. The firm had revenue of $122.94 million for the quarter, compared to analysts’ expectations of $121.75 million. During the same period in the prior year, the business posted ($0.14) earnings per share. The company’s revenue was up 28.4% on a year-over-year basis. Analysts predict that Box will post ($0.45) earnings per share for the current fiscal year.
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In related news, major shareholder Fisher Jurvetson Fund V. Draper sold 320,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 5th. The stock was sold at an average price of $18.07, for a total transaction of $5,782,400.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Rory O’driscoll sold 274,756 shares of the company’s stock in a transaction that occurred on Tuesday, June 27th. The shares were sold at an average price of $19.34, for a total value of $5,313,781.04. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,232,344 shares of company stock valued at $22,905,831. Insiders own 20.59% of the company’s stock.
Institutional investors have recently made changes to their positions in the stock. Jasper Ridge Partners L.P. raised its holdings in shares of Box by 54.0% during the second quarter. Jasper Ridge Partners L.P. now owns 40,783 shares of the software maker’s stock valued at $744,000 after acquiring an additional 14,305 shares in the last quarter. Swiss National Bank raised its holdings in shares of Box by 11.5% during the first quarter. Swiss National Bank now owns 84,300 shares of the software maker’s stock valued at $1,375,000 after acquiring an additional 8,700 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Box by 3,041.0% during the second quarter. JPMorgan Chase & Co. now owns 1,366,608 shares of the software maker’s stock valued at $24,927,000 after acquiring an additional 1,323,099 shares in the last quarter. UBS Asset Management Americas Inc. raised its holdings in shares of Box by 95.8% during the first quarter. UBS Asset Management Americas Inc. now owns 20,753 shares of the software maker’s stock valued at $338,000 after acquiring an additional 10,153 shares in the last quarter. Finally, Jane Street Group LLC bought a new position in shares of Box during the first quarter valued at approximately $248,000. Institutional investors own 57.37% of the company’s stock.
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.
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