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

Shares of Box, Inc. (NYSE:BOX) have been assigned an average recommendation of “Moderate Buy” from the ten analysts that are presently covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have given a buy rating to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $31.22.

Several brokerages recently issued reports on BOX. Monness Crespi & Hardt raised BOX to a “hold” rating in a research report on Friday, August 16th. Citigroup lifted their target price on BOX from $32.00 to $34.00 and gave the company a “buy” rating in a research report on Wednesday, August 28th. Oppenheimer reaffirmed an “outperform” rating and set a $35.00 target price on shares of BOX in a research report on Wednesday, May 29th. StockNews.com raised BOX from a “buy” rating to a “strong-buy” rating in a research report on Thursday, August 15th. Finally, UBS Group lifted their target price on BOX from $31.00 to $34.00 and gave the company a “buy” rating in a research report on Wednesday, August 28th.

Insider Buying and Selling at BOX

In other BOX news, Director Bethany Mayer sold 4,760 shares of the business’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $26.48, for a total value of $126,044.80. Following the sale, the director now directly owns 58,731 shares in the company, valued at $1,555,196.88. The sale was disclosed in a filing with the SEC, which is accessible through this link. In related news, CEO Aaron Levie sold 10,000 shares of the business’s stock in a transaction on Tuesday, July 2nd. The stock was sold at an average price of $26.26, for a total transaction of $262,600.00. Following the sale, the chief executive officer now directly owns 3,019,155 shares in the company, valued at approximately $79,283,010.30. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Bethany Mayer sold 4,760 shares of the business’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $26.48, for a total value of $126,044.80. Following the sale, the director now owns 58,731 shares in the company, valued at $1,555,196.88. The disclosure for this sale can be found here. Insiders have sold a total of 73,260 shares of company stock worth $2,113,560 over the last ninety days. 4.10% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On BOX

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Sumitomo Mitsui DS Asset Management Company Ltd grew its position in BOX by 3.7% during the second quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 15,831 shares of the software maker’s stock worth $419,000 after buying an additional 560 shares in the last quarter. Connable Office Inc. boosted its holdings in shares of BOX by 3.8% in the 2nd quarter. Connable Office Inc. now owns 15,707 shares of the software maker’s stock worth $415,000 after purchasing an additional 573 shares in the last quarter. Nisa Investment Advisors LLC boosted its holdings in shares of BOX by 31.7% in the 2nd quarter. Nisa Investment Advisors LLC now owns 2,627 shares of the software maker’s stock worth $69,000 after purchasing an additional 632 shares in the last quarter. Renaissance Group LLC boosted its holdings in shares of BOX by 1.0% in the 4th quarter. Renaissance Group LLC now owns 70,731 shares of the software maker’s stock worth $1,812,000 after purchasing an additional 671 shares in the last quarter. Finally, Diversified Trust Co boosted its holdings in shares of BOX by 2.9% in the 2nd quarter. Diversified Trust Co now owns 26,980 shares of the software maker’s stock worth $713,000 after purchasing an additional 768 shares in the last quarter. 86.74% of the stock is currently owned by hedge funds and other institutional investors.

BOX Price Performance

Shares of BOX opened at $33.45 on Tuesday. BOX has a 1 year low of $23.29 and a 1 year high of $33.56. The company has a market capitalization of $4.83 billion, a price-to-earnings ratio of 45.82 and a beta of 0.85. The business has a 50-day moving average of $28.83 and a 200-day moving average of $27.69.

BOX (NYSE:BOX) last issued its earnings results on Tuesday, August 27th. The software maker reported $0.44 earnings per share for the quarter, topping analysts’ consensus estimates of $0.40 by $0.04. The business had revenue of $270.04 million during the quarter, compared to the consensus estimate of $269.52 million. BOX had a negative return on equity of 14.41% and a net margin of 13.94%. The firm’s revenue for the quarter was up 3.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.01 earnings per share. As a group, sell-side analysts anticipate that BOX will post 0.23 EPS for the current year.

About BOX

Box, Inc provides a cloud content management platform that enables organizations of various sizes to manage and share their content from anywhere on any device. The company's Software-as-a-Service platform enables users to work with their content as they need from secure external collaboration and sharing, workspaces and portals, e-signature processes, and content workflows improving employee productivity and accelerating business processes.