BOX’s (BOX) Buy Rating Reaffirmed at Canaccord Genuity

BOX (NYSE:BOX)‘s stock had its “buy” rating restated by equities researchers at Canaccord Genuity in a research report issued on Thursday. They currently have a $25.00 target price on the software maker’s stock. Canaccord Genuity’s price target points to a potential upside of 20.34% from the company’s current price.

A number of other analysts also recently commented on the company. Drexel Hamilton restated a “buy” rating and set a $28.00 price objective on shares of BOX in a report on Monday, August 28th. Rosenblatt Securities reiterated a “buy” rating and issued a $25.00 price target on shares of BOX in a report on Friday, September 1st. Mitsubishi UFJ Financial Group upgraded BOX to an “overweight” rating and increased their price target for the company from $23.00 to $24.00 in a report on Thursday, August 31st. UBS upgraded BOX from a “market perform” rating to an “outperform” rating and set a $26.00 price target for the company in a report on Monday, September 25th. Finally, Oppenheimer reiterated an “outperform” rating and issued a $22.00 price target on shares of BOX in a report on Sunday, September 3rd. Three analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. BOX currently has an average rating of “Buy” and a consensus target price of $24.24.

Shares of BOX (BOX) traded down $0.26 during trading on Thursday, hitting $20.78. The company’s stock had a trading volume of 1,817,095 shares, compared to its average volume of 1,644,894. BOX has a one year low of $13.56 and a one year high of $24.10. The company has a debt-to-equity ratio of 1.58, a quick ratio of 1.02 and a current ratio of 1.02.

BOX (NYSE:BOX) last issued its quarterly earnings results on Wednesday, November 29th. The software maker reported ($0.13) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.13). The company had revenue of $129.30 million for the quarter, compared to analyst estimates of $128.67 million. BOX had a negative return on equity of 232.81% and a negative net margin of 34.11%. The business’s revenue for the quarter was up 25.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.14) EPS. analysts expect that BOX will post -1.15 earnings per share for the current fiscal year.

In other BOX news, VP Jeff Mannie sold 6,145 shares of the company’s stock in a transaction dated Thursday, September 28th. The shares were sold at an average price of $19.00, for a total value of $116,755.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Peter M. Mcgoff sold 80,000 shares of the company’s stock in a transaction dated Tuesday, September 12th. The shares were sold at an average price of $18.52, for a total transaction of $1,481,600.00. Following the completion of the transaction, the senior vice president now directly owns 286,135 shares of the company’s stock, valued at $5,299,220.20. The disclosure for this sale can be found here. Over the last three months, insiders sold 969,534 shares of company stock valued at $18,204,431. 20.59% of the stock is currently owned by corporate insiders.

A number of large investors have recently bought and sold shares of the business. Ameritas Investment Partners Inc. lifted its position in shares of BOX by 81.3% during the second quarter. Ameritas Investment Partners Inc. now owns 6,896 shares of the software maker’s stock worth $126,000 after purchasing an additional 3,092 shares during the last quarter. Hillsdale Investment Management Inc. bought a new position in shares of BOX during the second quarter worth about $155,000. BNP Paribas Arbitrage SA lifted its position in shares of BOX by 843.7% during the second quarter. BNP Paribas Arbitrage SA now owns 9,786 shares of the software maker’s stock worth $178,000 after purchasing an additional 8,749 shares during the last quarter. StepStone Group LP bought a new position in shares of BOX during the second quarter worth about $180,000. Finally, Amalgamated Bank bought a new position in shares of BOX during the second quarter worth about $183,000. 63.44% of the stock is owned by institutional investors.

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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.

Analyst Recommendations for BOX (NYSE:BOX)

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