Investment analysts at Deutsche Bank began coverage on shares of BOX (NYSE:BOX) in a research note issued to investors on Monday, MarketBeat Ratings reports. The firm set a “hold” rating and a $22.00 price target on the software maker’s stock. Deutsche Bank’s price target suggests a potential upside of 11.56% from the company’s previous close.
Other research analysts have also issued reports about the company. ValuEngine lowered BOX from a “strong-buy” rating to a “buy” rating in a report on Thursday, August 30th. DA Davidson dropped their price target on BOX from $31.00 to $30.00 and set a “buy” rating on the stock in a research note on Wednesday, August 29th. Rosenblatt Securities reissued a “hold” rating and issued a $25.00 price target on shares of BOX in a research note on Sunday, August 26th. JMP Securities reissued an “outperform” rating and issued a $32.00 price target on shares of BOX in a research note on Wednesday, August 29th. Finally, First Analysis assumed coverage on BOX in a research note on Friday, July 20th. They issued an “overweight” rating and a $32.00 price target on the stock. Seven equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $27.00.
NYSE:BOX opened at $19.72 on Monday. The stock has a market cap of $3.39 billion, a P/E ratio of -17.28 and a beta of 1.10. BOX has a 52-week low of $17.53 and a 52-week high of $29.79. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 2.04.
BOX (NYSE:BOX) last released its earnings results on Tuesday, August 28th. The software maker reported ($0.05) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.01. The firm had revenue of $148.20 million for the quarter, compared to analyst estimates of $146.58 million. BOX had a negative return on equity of 488.70% and a negative net margin of 27.10%. BOX’s revenue was up 20.6% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.11) earnings per share. Sell-side analysts anticipate that BOX will post -0.95 earnings per share for the current fiscal year.
In other BOX news, Director Daniel J. Levin sold 70,000 shares of the firm’s stock in a transaction dated Monday, September 17th. The stock was sold at an average price of $24.00, for a total transaction of $1,680,000.00. Following the completion of the sale, the director now directly owns 5,790 shares in the company, valued at approximately $138,960. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Daniel J. Levin sold 80,000 shares of the firm’s stock in a transaction dated Monday, July 16th. The stock was sold at an average price of $26.22, for a total value of $2,097,600.00. Following the sale, the director now owns 5,790 shares of the company’s stock, valued at $151,813.80. The disclosure for this sale can be found here. Insiders sold a total of 272,000 shares of company stock worth $6,760,280 in the last three months. 8.51% of the stock is currently owned by company insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. BlackRock Inc. boosted its position in BOX by 48.0% during the 2nd quarter. BlackRock Inc. now owns 9,185,178 shares of the software maker’s stock worth $229,538,000 after acquiring an additional 2,980,390 shares during the period. Renaissance Technologies LLC boosted its position in BOX by 27.4% during the 2nd quarter. Renaissance Technologies LLC now owns 4,586,100 shares of the software maker’s stock worth $114,607,000 after acquiring an additional 987,100 shares during the period. Morgan Stanley boosted its position in BOX by 270.9% during the 2nd quarter. Morgan Stanley now owns 1,633,710 shares of the software maker’s stock worth $40,826,000 after acquiring an additional 1,193,210 shares during the period. JPMorgan Chase & Co. boosted its position in BOX by 9,171.7% during the 1st quarter. JPMorgan Chase & Co. now owns 1,619,488 shares of the software maker’s stock worth $33,280,000 after acquiring an additional 1,602,021 shares during the period. Finally, Northern Trust Corp boosted its position in BOX by 48.0% during the 2nd quarter. Northern Trust Corp now owns 1,552,209 shares of the software maker’s stock worth $38,790,000 after acquiring an additional 503,671 shares during the period. Hedge funds and other institutional investors own 67.08% of the company’s stock.
BOX Company Profile
Box, Inc provides cloud content management platform that enables organizations of various sizes to manage and share their enterprise content from anywhere or any device. The company's Software-as-a-Service platform enables users to collaborate on content internally and with external parties, automate content-driven business processes, develop custom applications, and implement data protection, security, and compliance features.
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