BOX (NYSE:BOX) Upgraded at StockNews.com

BOX (NYSE:BOXGet Rating) was upgraded by analysts at StockNews.com from a “buy” rating to a “strong-buy” rating in a research report issued on Saturday.

A number of other analysts also recently issued reports on the company. KeyCorp began coverage on BOX in a research report on Monday, September 12th. They issued an “overweight” rating and a $34.00 target price for the company. Craig Hallum decreased their target price on BOX to $41.00 in a research report on Thursday, May 26th. Citigroup began coverage on BOX in a research report on Thursday, September 1st. They issued a “buy” rating and a $34.00 target price for the company. Finally, Raymond James raised their target price on BOX from $30.00 to $35.00 in a research report on Thursday, August 25th. Three investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $32.50.

BOX Trading Down 1.8 %

Shares of BOX stock opened at $26.30 on Friday. The business’s fifty day simple moving average is $28.09 and its 200 day simple moving average is $27.80. The firm has a market capitalization of $3.74 billion, a P/E ratio of -101.15 and a beta of 1.16. BOX has a 12 month low of $22.18 and a 12 month high of $33.04.

BOX (NYSE:BOXGet Rating) last issued its quarterly earnings results on Wednesday, August 24th. The software maker reported $0.28 EPS for the quarter, hitting analysts’ consensus estimates of $0.28. The business had revenue of $246.00 million for the quarter, compared to the consensus estimate of $245.77 million. During the same quarter last year, the business posted ($0.06) earnings per share. The business’s revenue was up 14.7% compared to the same quarter last year. Analysts predict that BOX will post -0.15 EPS for the current fiscal year.

Insider Activity

In related news, CFO Dylan C. Smith sold 13,000 shares of BOX stock in a transaction on Monday, July 11th. The stock was sold at an average price of $26.45, for a total transaction of $343,850.00. Following the completion of the sale, the chief financial officer now owns 1,395,137 shares of the company’s stock, valued at $36,901,373.65. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Over the last three months, insiders sold 39,000 shares of company stock worth $1,089,400. 5.20% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On BOX

Several large investors have recently added to or reduced their stakes in the business. RGM Capital LLC boosted its stake in BOX by 11.8% during the first quarter. RGM Capital LLC now owns 5,528,714 shares of the software maker’s stock valued at $160,664,000 after buying an additional 582,752 shares during the period. Geode Capital Management LLC lifted its stake in shares of BOX by 12.1% in the 4th quarter. Geode Capital Management LLC now owns 4,020,758 shares of the software maker’s stock valued at $105,303,000 after acquiring an additional 434,218 shares during the last quarter. State Street Corp lifted its stake in shares of BOX by 3.7% in the 4th quarter. State Street Corp now owns 3,784,938 shares of the software maker’s stock valued at $99,128,000 after acquiring an additional 134,661 shares during the last quarter. Macquarie Group Ltd. lifted its stake in shares of BOX by 28.9% in the 2nd quarter. Macquarie Group Ltd. now owns 2,890,365 shares of the software maker’s stock valued at $72,664,000 after acquiring an additional 648,830 shares during the last quarter. Finally, Allianz Asset Management GmbH lifted its stake in shares of BOX by 1.6% in the 1st quarter. Allianz Asset Management GmbH now owns 2,122,518 shares of the software maker’s stock valued at $61,680,000 after acquiring an additional 34,446 shares during the last quarter. Institutional investors own 86.00% of the company’s stock.

About BOX

(Get Rating)

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 collaborate on content internally and with external parties, automate content-driven business processes, develop custom applications, and implement data protection, security, and compliance features to comply with legal and regulatory requirements, internal policies, and industry standards and regulations.

Further Reading

Analyst Recommendations for BOX (NYSE:BOX)

Receive News & Ratings for BOX Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for BOX and related companies with MarketBeat.com's FREE daily email newsletter.