Oppenheimer Holdings, Inc. Reaffirms Buy Rating for Box, Inc. (BOX)
Box, Inc. (NYSE:BOX)‘s stock had its “buy” rating reiterated by analysts at Oppenheimer Holdings, Inc. in a research report issued to clients and investors on Monday. They presently have a $22.00 price target on the software maker’s stock. Oppenheimer Holdings, Inc.’s price target suggests a potential upside of 9.67% from the stock’s current price.
Several other equities research analysts also recently weighed in on the stock. Drexel Hamilton reaffirmed a “buy” rating and issued a $28.00 price objective on shares of Box in a report on Monday, August 28th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $25.00 price objective on shares of Box in a report on Monday, June 26th. Mitsubishi UFJ Financial Group raised shares of Box to an “overweight” rating and upped their price objective for the stock from $23.00 to $24.00 in a report on Thursday, August 31st. BidaskClub downgraded shares of Box from a “buy” rating to a “hold” rating in a report on Tuesday, August 1st. Finally, UBS AG raised shares of Box from a “market perform” rating to an “outperform” rating and set a $26.00 price objective for the company in a report on Monday, September 25th. Three investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $23.40.
Box (BOX) traded down 0.74% during mid-day trading on Monday, hitting $20.06. 3,700,976 shares of the stock traded hands. The stock has a 50-day moving average of $18.73 and a 200 day moving average of $18.73. The firm’s market cap is $2.12 billion. Box has a 1-year low of $13.56 and a 1-year high of $20.91.
Box (NYSE:BOX) last posted its quarterly earnings data on Wednesday, August 30th. The software maker reported ($0.11) earnings per share for the quarter, topping the consensus estimate of ($0.13) by $0.02. The business had revenue of $122.94 million during the quarter, compared to the consensus estimate of $121.75 million. Box had a negative net margin of 34.11% and a negative return on equity of 232.81%. The company’s quarterly revenue was up 28.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.14) earnings per share. On average, equities analysts expect that Box will post ($0.45) EPS for the current year.
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In other Box news, VP Jeff Mannie sold 6,145 shares of the business’s stock in a transaction dated Thursday, September 28th. The stock was sold at an average price of $19.00, for a total transaction of $116,755.00. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, President Daniel J. Levin sold 20,000 shares of the business’s stock in a transaction dated Tuesday, August 15th. The stock was sold at an average price of $18.60, for a total value of $372,000.00. Following the sale, the president now owns 3,752 shares in the company, valued at approximately $69,787.20. The disclosure for this sale can be found here. Insiders sold a total of 959,534 shares of company stock valued at $17,927,031 over the last three months. 20.59% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of BOX. Russell Investments Group Ltd. raised its holdings in Box by 39.5% during the 1st quarter. Russell Investments Group Ltd. now owns 21,638 shares of the software maker’s stock worth $352,000 after buying an additional 6,124 shares during the period. Wells Fargo & Company MN raised its holdings in Box by 27.1% during the 1st quarter. Wells Fargo & Company MN now owns 92,901 shares of the software maker’s stock worth $1,515,000 after buying an additional 19,816 shares during the period. Bank of New York Mellon Corp raised its holdings in Box by 29.1% during the 1st quarter. Bank of New York Mellon Corp now owns 252,752 shares of the software maker’s stock worth $4,123,000 after buying an additional 57,011 shares during the period. Swiss National Bank raised its holdings in Box by 11.5% during the 1st quarter. Swiss National Bank now owns 84,300 shares of the software maker’s stock worth $1,375,000 after buying an additional 8,700 shares during the period. Finally, UBS Asset Management Americas Inc. raised its holdings in Box by 95.8% during the 1st quarter. UBS Asset Management Americas Inc. now owns 20,753 shares of the software maker’s stock worth $338,000 after buying an additional 10,153 shares during the period. Hedge funds and other institutional investors own 57.37% 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.
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