BOX’s (BOX) “Buy” Rating Reiterated at DA Davidson

DA Davidson reiterated their buy rating on shares of BOX (NYSE:BOX) in a research report sent to investors on Friday,Benzinga reports. The brokerage currently has a $45.00 target price on the software maker’s stock.

Several other research analysts also recently weighed in on BOX. Citigroup cut their target price on shares of BOX from $40.00 to $36.00 and set a “buy” rating for the company in a research note on Wednesday, March 4th. Wall Street Zen raised shares of BOX from a “hold” rating to a “strong-buy” rating in a research note on Saturday, March 14th. Morgan Stanley lowered their price target on shares of BOX from $38.00 to $33.00 and set an “equal weight” rating for the company in a report on Thursday, March 12th. UBS Group cut their price objective on shares of BOX from $31.00 to $28.00 and set a “hold” rating for the company in a research report on Wednesday, March 4th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of BOX in a research note on Monday, December 29th. Four research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, BOX presently has a consensus rating of “Hold” and a consensus price target of $35.57.

BOX Stock Performance

Shares of NYSE:BOX opened at $24.65 on Friday. The business’s fifty day moving average price is $24.85 and its two-hundred day moving average price is $29.11. The stock has a market cap of $3.41 billion, a PE ratio of 41.77, a price-to-earnings-growth ratio of 1.26 and a beta of 0.80. BOX has a one year low of $21.61 and a one year high of $38.80.

BOX (NYSE:BOX) last released its quarterly earnings results on Tuesday, March 3rd. The software maker reported $0.49 earnings per share for the quarter, topping analysts’ consensus estimates of $0.33 by $0.16. BOX had a negative return on equity of 23.61% and a net margin of 9.80%.The company had revenue of $305.88 million during the quarter, compared to analysts’ expectations of $305.64 million. During the same period in the previous year, the firm posted $0.42 earnings per share. The business’s revenue for the quarter was up 9.4% compared to the same quarter last year. As a group, equities research analysts predict that BOX will post 0.27 earnings per share for the current fiscal year.

BOX declared that its board has authorized a stock buyback program on Thursday, March 19th that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the software maker to purchase up to 14.2% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s management believes its stock is undervalued.

Insiders Place Their Bets

In other BOX news, COO Olivia Nottebohm sold 4,612 shares of BOX stock in a transaction dated Friday, March 6th. The stock was sold at an average price of $25.78, for a total value of $118,897.36. Following the completion of the sale, the chief operating officer owned 465,219 shares in the company, valued at $11,993,345.82. The trade was a 0.98% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Dylan C. Smith sold 17,000 shares of the company’s stock in a transaction dated Tuesday, March 10th. The shares were sold at an average price of $24.72, for a total transaction of $420,240.00. Following the transaction, the chief financial officer directly owned 1,294,195 shares of the company’s stock, valued at approximately $31,992,500.40. This represents a 1.30% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 79,836 shares of company stock valued at $2,091,096. Insiders own 3.90% of the company’s stock.

Institutional Investors Weigh In On BOX

A number of institutional investors have recently bought and sold shares of BOX. Vanguard Group Inc. boosted its holdings in shares of BOX by 2.8% in the 3rd quarter. Vanguard Group Inc. now owns 18,487,018 shares of the software maker’s stock valued at $596,576,000 after purchasing an additional 497,658 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its holdings in shares of BOX by 15.5% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 4,511,258 shares of the software maker’s stock worth $134,932,000 after buying an additional 604,946 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of BOX by 1.0% during the 2nd quarter. Geode Capital Management LLC now owns 3,346,923 shares of the software maker’s stock worth $114,379,000 after buying an additional 32,884 shares during the last quarter. RGM Capital LLC raised its position in shares of BOX by 8.2% in the 4th quarter. RGM Capital LLC now owns 3,330,168 shares of the software maker’s stock worth $99,605,000 after buying an additional 251,520 shares during the period. Finally, Sei Investments Co. raised its position in shares of BOX by 2.9% in the 3rd quarter. Sei Investments Co. now owns 3,316,783 shares of the software maker’s stock worth $107,033,000 after buying an additional 94,289 shares during the period. 86.74% of the stock is currently owned by hedge funds and other institutional investors.

BOX Company Profile

Box, Inc is a leading provider of cloud content management and file sharing solutions designed to support enterprises in securely managing, accessing and collaborating on digital content from anywhere. The company offers a unified platform that enables organizations to store, share and automate workflows across various departments, enhancing productivity and ensuring governance over sensitive information. Box’s services are tailored to meet the needs of industries such as healthcare, financial services, government and media, where compliance and data security are paramount.

The core offerings of Box include its Content Cloud platform, which provides content collaboration, workflow automation, data classification and secure file sharing.