Brokerages Set Box, Inc. (NYSE:BOX) Target Price at $31.22

Shares of Box, Inc. (NYSE:BOX) have earned an average recommendation of “Moderate Buy” from the eleven brokerages that are presently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and eight have given a buy recommendation to the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $31.22.

Several research analysts have recently commented on BOX shares. Monness Crespi & Hardt upgraded BOX to a “hold” rating in a research report on Friday, August 16th. William Blair restated an “outperform” rating on shares of BOX in a report on Thursday, November 14th. StockNews.com raised BOX from a “buy” rating to a “strong-buy” rating in a report on Thursday, August 15th. Citigroup increased their price objective on shares of BOX from $32.00 to $34.00 and gave the stock a “buy” rating in a report on Wednesday, August 28th. Finally, Morgan Stanley boosted their target price on shares of BOX from $30.00 to $33.00 and gave the stock an “equal weight” rating in a research note on Thursday, September 5th.

BOX Stock Performance

Shares of NYSE:BOX opened at $35.06 on Friday. The company’s fifty day moving average is $32.90 and its 200-day moving average is $29.59. BOX has a 52 week low of $23.29 and a 52 week high of $35.74. The company has a market capitalization of $5.02 billion, a PE ratio of 44.38 and a beta of 0.85.

BOX (NYSE:BOX) last released its quarterly earnings results on Tuesday, August 27th. The software maker reported $0.44 EPS for the quarter, beating analysts’ consensus estimates of $0.40 by $0.04. The firm had revenue of $270.04 million for the quarter, compared to analyst estimates of $269.52 million. BOX had a net margin of 13.94% and a negative return on equity of 14.41%. The company’s revenue for the quarter was up 3.3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.01 earnings per share. On average, analysts forecast that BOX will post 0.23 EPS for the current year.

Insider Transactions at BOX

In related news, CEO Aaron Levie sold 10,000 shares of the company’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $32.92, for a total value of $329,200.00. Following the completion of the sale, the chief executive officer now owns 3,009,155 shares in the company, valued at approximately $99,061,382.60. This represents a 0.33 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Dylan C. Smith sold 13,000 shares of the firm’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $32.89, for a total value of $427,570.00. Following the transaction, the chief financial officer now owns 1,500,661 shares in the company, valued at approximately $49,356,740.29. This trade represents a 0.86 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 51,500 shares of company stock worth $1,711,135 in the last quarter. 4.10% of the stock is owned by company insiders.

Institutional Investors Weigh In On BOX

Several large investors have recently bought and sold shares of the company. Assenagon Asset Management S.A. grew its position in shares of BOX by 143.6% in the 2nd quarter. Assenagon Asset Management S.A. now owns 254,975 shares of the software maker’s stock valued at $6,742,000 after purchasing an additional 150,309 shares during the period. Vanguard Group Inc. increased its position in shares of BOX by 14.9% during the first quarter. Vanguard Group Inc. now owns 17,313,882 shares of the software maker’s stock worth $490,329,000 after acquiring an additional 2,249,082 shares in the last quarter. Teachers Retirement System of The State of Kentucky acquired a new stake in shares of BOX during the first quarter worth $1,096,000. Comerica Bank lifted its position in BOX by 964.7% in the 1st quarter. Comerica Bank now owns 85,081 shares of the software maker’s stock valued at $2,409,000 after acquiring an additional 77,090 shares in the last quarter. Finally, Bank of Montreal Can boosted its stake in BOX by 16.0% in the 2nd quarter. Bank of Montreal Can now owns 351,850 shares of the software maker’s stock worth $9,514,000 after purchasing an additional 48,633 shares during the period. Institutional investors own 86.74% of the company’s stock.

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.