Zacks Investment Research upgraded shares of BOX (NYSE:BOX) from a hold rating to a buy rating in a report published on Tuesday morning. The brokerage currently has $26.00 price objective on the software maker’s stock.
According to Zacks, “Box has outperformed the industry it belongs to in the past 12 months. The company continues to reap benefit from its strength across international markets. It is witnessing increasing adoption of its cloud management platform by its existing clients. Hence, high retention rate will continue to boost its top-line. Moreover, the company’s strong focus on enriching its cloud content management and AI platforms will drive growth in fiscal 2019. However, the company has been incurring losses since its inception and does not expect profits in the foreseeable future. Also, sluggish growth in paid customers remains a concern.”
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Other analysts have also issued reports about the stock. Vetr lowered shares of BOX from a strong-buy rating to a buy rating and set a $24.14 price target for the company. in a research report on Thursday, February 15th. DA Davidson initiated coverage on shares of BOX in a research report on Thursday, February 15th. They set a buy rating and a $25.00 price target for the company. ValuEngine upgraded shares of BOX from a hold rating to a buy rating in a report on Monday, April 2nd. Canaccord Genuity restated a buy rating on shares of BOX in a report on Monday, March 5th. Finally, Monness Crespi & Hardt initiated coverage on shares of BOX in a report on Wednesday, April 11th. They set a neutral rating on the stock. Three equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of Buy and an average target price of $24.50.
BOX stock opened at $24.26 on Tuesday. BOX has a one year low of $16.76 and a one year high of $24.59. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 4.48.
BOX (NYSE:BOX) last released its quarterly earnings results on Wednesday, February 28th. The software maker reported ($0.06) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.08) by $0.02. The business had revenue of $136.70 million during the quarter, compared to analyst estimates of $136.61 million. BOX had a negative net margin of 30.62% and a negative return on equity of 433.21%. The company’s quarterly revenue was up 24.4% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.10) earnings per share. sell-side analysts expect that BOX will post -1.01 EPS for the current fiscal year.
In related news, CFO Dylan C. Smith sold 13,000 shares of the stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $20.42, for a total value of $265,460.00. Following the transaction, the chief financial officer now owns 13,000 shares in the company, valued at approximately $265,460. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Daniel J. Levin sold 10,000 shares of the stock in a transaction that occurred on Wednesday, March 7th. The stock was sold at an average price of $20.00, for a total transaction of $200,000.00. Following the completion of the transaction, the director now owns 5,790 shares in the company, valued at approximately $115,800. The disclosure for this sale can be found here. In the last quarter, insiders sold 285,079 shares of company stock worth $5,935,989. 22.30% of the stock is owned by corporate insiders.
Large investors have recently modified their holdings of the stock. SG Americas Securities LLC acquired a new position in BOX in the 1st quarter worth approximately $111,000. Dorsey & Whitney Trust CO LLC acquired a new position in BOX in the 4th quarter worth approximately $203,000. Welch Capital Partners LLC NY acquired a new position in BOX in the 4th quarter worth approximately $226,000. Aperio Group LLC acquired a new position in BOX in the 4th quarter worth approximately $227,000. Finally, Xact Kapitalforvaltning AB acquired a new position in BOX in the 4th quarter worth approximately $227,000. Institutional investors own 75.45% of the company’s stock.
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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