DA Davidson Reiterates Buy Rating for BOX (NYSE:BOX)

BOX (NYSE:BOX)‘s stock had its “buy” rating reiterated by analysts at DA Davidson in a note issued to investors on Friday,Benzinga reports. They currently have a $45.00 price objective on the software maker’s stock. DA Davidson’s target price points to a potential upside of 82.59% from the stock’s previous close.

BOX has been the topic of a number of other reports. Citigroup reduced their target price on shares of BOX from $40.00 to $36.00 and set a “buy” rating on the stock in a research note on Wednesday, March 4th. UBS Group reduced their price target on shares of BOX from $31.00 to $28.00 and set a “hold” rating on the stock in a research report on Wednesday, March 4th. Morgan Stanley lowered their price objective on BOX from $38.00 to $33.00 and set an “equal weight” rating for the company in a research report on Thursday, March 12th. Wall Street Zen upgraded BOX from a “hold” rating to a “strong-buy” rating in a research report on Saturday, March 14th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of BOX in a research note on Monday, December 29th. Four analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $35.57.

BOX Price Performance

BOX stock opened at $24.65 on Friday. BOX has a 1 year low of $21.61 and a 1 year high of $38.80. The firm has a market capitalization of $3.53 billion, a PE ratio of 41.77, a price-to-earnings-growth ratio of 1.26 and a beta of 0.80. The business has a 50 day simple moving average of $24.85 and a 200-day simple moving average of $29.14.

BOX (NYSE:BOX) last announced its quarterly earnings data on Tuesday, March 3rd. The software maker reported $0.49 EPS 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 firm had revenue of $305.88 million for the quarter, compared to the consensus estimate of $305.64 million. During the same quarter last year, the business posted $0.42 earnings per share. The firm’s revenue was up 9.4% compared to the same quarter last year. On average, equities research analysts expect that BOX will post 0.27 EPS for the current year.

BOX declared that its Board of Directors has authorized a share repurchase plan on Thursday, March 19th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the software maker to buy up to 14.2% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board believes its stock is undervalued.

Insider Buying and Selling

In other BOX news, CEO Aaron Levie sold 15,000 shares of the stock in a transaction that occurred on Tuesday, March 10th. The shares were sold at an average price of $24.72, for a total transaction of $370,800.00. Following the sale, the chief executive officer directly owned 2,907,030 shares in the company, valued at $71,861,781.60. This represents a 0.51% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, COO Olivia Nottebohm sold 4,612 shares of the business’s stock in a transaction on Friday, March 6th. The stock was sold at an average price of $25.78, for a total transaction of $118,897.36. Following the completion of the transaction, the chief operating officer owned 465,219 shares of the company’s stock, valued at approximately $11,993,345.82. This trade represents a 0.98% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 79,836 shares of company stock valued at $2,091,096 in the last ninety days. Company insiders own 3.90% of the company’s stock.

Institutional Investors Weigh In On BOX

Large investors have recently bought and sold shares of the stock. Mackenzie Financial Corp increased its stake in shares of BOX by 15.2% during the second quarter. Mackenzie Financial Corp now owns 560,329 shares of the software maker’s stock worth $19,146,000 after buying an additional 73,896 shares during the period. Creative Planning lifted its stake in BOX by 84.3% in the second quarter. Creative Planning now owns 39,251 shares of the software maker’s stock worth $1,341,000 after acquiring an additional 17,950 shares during the last quarter. Neuberger Berman Group LLC grew its holdings in BOX by 38.1% during the 2nd quarter. Neuberger Berman Group LLC now owns 955,286 shares of the software maker’s stock worth $32,637,000 after acquiring an additional 263,619 shares in the last quarter. Mizuho Markets Americas LLC purchased a new stake in shares of BOX in the 3rd quarter valued at approximately $20,851,000. Finally, Trek Financial LLC purchased a new stake in shares of BOX in the 2nd quarter valued at approximately $6,276,000. Hedge funds and other institutional investors own 86.74% of the company’s stock.

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.