Box, Inc. (NYSE:BOX) Receives Average Recommendation of “Moderate Buy” from Brokerages

Box, Inc. (NYSE:BOX) has received a consensus recommendation of “Moderate Buy” from the nine brokerages that are covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, seven have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $38.50.

Several analysts recently weighed in on the stock. Royal Bank Of Canada lifted their price target on shares of BOX from $21.00 to $24.00 and gave the company an “underperform” rating in a report on Wednesday, May 28th. JPMorgan Chase & Co. lifted their price target on shares of BOX from $37.00 to $39.00 and gave the company an “overweight” rating in a report on Wednesday, May 28th. Morgan Stanley reiterated a “positive” rating on shares of BOX in a report on Wednesday, May 28th. Wall Street Zen cut shares of BOX from a “buy” rating to a “hold” rating in a report on Sunday, June 29th. Finally, UBS Group upgraded shares of BOX from a “buy” rating to a “strong-buy” rating and lifted their price target for the company from $37.00 to $40.00 in a report on Wednesday, May 28th.

BOX Stock Down 1.1%

NYSE:BOX opened at $31.44 on Tuesday. The stock has a market cap of $4.52 billion, a P/E ratio of 24.37 and a beta of 0.96. The firm’s fifty day simple moving average is $32.76 and its 200 day simple moving average is $32.53. BOX has a twelve month low of $28.00 and a twelve month high of $38.80.

BOX (NYSE:BOX) last released its quarterly earnings results on Tuesday, May 27th. The software maker reported $0.30 earnings per share for the quarter, beating the consensus estimate of $0.25 by $0.05. The business had revenue of $276.27 million for the quarter, compared to analysts’ expectations of $274.77 million. BOX had a net margin of 21.38% and a negative return on equity of 20.17%. The firm’s revenue for the quarter was up 4.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.39 earnings per share. On average, analysts expect that BOX will post 0.27 EPS for the current fiscal year.

Insider Buying and Selling at BOX

In other BOX news, VP Eli Berkovitch sold 5,924 shares of the firm’s stock in a transaction on Friday, May 30th. The stock was sold at an average price of $37.70, for a total transaction of $223,334.80. Following the completion of the transaction, the vice president owned 138,770 shares of the company’s stock, valued at approximately $5,231,629. This trade represents a 4.09% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Aaron Levie sold 15,000 shares of the firm’s stock in a transaction on Thursday, July 10th. The shares were sold at an average price of $33.35, for a total value of $500,250.00. Following the transaction, the chief executive officer directly owned 2,952,030 shares of the company’s stock, valued at $98,450,200.50. This represents a 0.51% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 94,504 shares of company stock valued at $3,363,371. Company insiders own 3.90% of the company’s stock.

Hedge Funds Weigh In On BOX

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Caitong International Asset Management Co. Ltd lifted its position in BOX by 7,130.0% during the second quarter. Caitong International Asset Management Co. Ltd now owns 723 shares of the software maker’s stock valued at $25,000 after buying an additional 713 shares during the period. TCTC Holdings LLC lifted its position in BOX by 115.4% during the first quarter. TCTC Holdings LLC now owns 825 shares of the software maker’s stock valued at $25,000 after buying an additional 442 shares during the period. Thurston Springer Miller Herd & Titak Inc. lifted its position in BOX by 332.5% during the first quarter. Thurston Springer Miller Herd & Titak Inc. now owns 865 shares of the software maker’s stock valued at $27,000 after buying an additional 665 shares during the period. MorganRosel Wealth Management LLC purchased a new position in shares of BOX in the 1st quarter worth about $31,000. Finally, Geneos Wealth Management Inc. purchased a new position in shares of BOX in the 1st quarter worth about $31,000. Hedge funds and other institutional investors own 86.74% of the company’s stock.

About BOX

Box, Inc engages in the provision of an enterprise content platform that enables organizations to securely manage enterprise content while allowing easy, secure access and sharing of this content from anywhere, on any device. Its products include cloud content management, IT and admin controls, Box Governance, Box Zones, Box Relay, Box Shuttle, and Box KeySafe.