Oppenheimer Holdings, Inc. reaffirmed their buy rating on shares of Box, Inc. (NYSE:BOX) in a research report report published on Monday. Oppenheimer Holdings, Inc. currently has a $22.00 target price on the software maker’s stock.
Several other analysts have also weighed in on the stock. Canaccord Genuity lifted their target price on shares of Box from $24.00 to $25.00 and gave the company a buy rating in a research report on Friday, October 13th. Rosenblatt Securities reiterated a buy rating and set a $25.00 target price on shares of Box in a research report on Monday, October 9th. Raymond James Financial, Inc. upgraded shares of Box from a market perform rating to an outperform rating and set a $26.00 target price on the stock in a research report on Monday, September 25th. UBS AG upgraded shares of Box from a market perform rating to an outperform rating and set a $26.00 target price on the stock in a research report on Monday, September 25th. Finally, Mitsubishi UFJ Financial Group upgraded shares of Box to an overweight rating and lifted their target price for the company from $23.00 to $24.00 in a research report on Thursday, August 31st. Three equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. The company presently has an average rating of Buy and a consensus target price of $23.40.
Box (NYSE BOX) opened at 20.55 on Monday. The company’s market cap is $2.75 billion. The firm has a 50-day moving average of $18.90 and a 200-day moving average of $18.90. Box has a one year low of $13.56 and a one year high of $20.57.
Box (NYSE:BOX) last issued its earnings results on Wednesday, August 30th. The software maker reported ($0.11) earnings per share for the quarter, beating the consensus estimate of ($0.13) by $0.02. Box had a negative net margin of 34.11% and a negative return on equity of 232.81%. The business had revenue of $122.94 million for the quarter, compared to analyst estimates of $121.75 million. During the same period in the previous year, the business earned ($0.14) EPS. The firm’s revenue was up 28.4% on a year-over-year basis. On average, analysts predict that Box will post ($0.45) EPS for the current year.
In other Box news, Director Daniel J. Levin sold 50,000 shares of the business’s stock in a transaction dated Monday, October 16th. The shares were sold at an average price of $19.95, for a total value of $997,500.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Rory O’driscoll sold 224,000 shares of the business’s stock in a transaction dated Friday, September 29th. The shares were sold at an average price of $19.22, for a total transaction of $4,305,280.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,009,534 shares of company stock worth $18,924,531. Company insiders own 22.30% of the company’s stock.
Large investors have recently added to or reduced their stakes in the business. Jasper Ridge Partners L.P. boosted its position in Box by 54.0% in the second quarter. Jasper Ridge Partners L.P. now owns 40,783 shares of the software maker’s stock valued at $744,000 after buying an additional 14,305 shares in the last quarter. Swiss National Bank boosted its position in Box by 11.5% in the first quarter. Swiss National Bank now owns 84,300 shares of the software maker’s stock valued at $1,375,000 after buying an additional 8,700 shares in the last quarter. JPMorgan Chase & Co. boosted its position in Box by 3,041.0% in the second quarter. JPMorgan Chase & Co. now owns 1,366,608 shares of the software maker’s stock valued at $24,927,000 after buying an additional 1,323,099 shares in the last quarter. Lucha Capital Management LP acquired a new position in Box in the second quarter valued at about $7,200,000. Finally, UBS Asset Management Americas Inc. boosted its position in Box by 95.8% in the first quarter. UBS Asset Management Americas Inc. now owns 20,753 shares of the software maker’s stock valued at $338,000 after buying an additional 10,153 shares in the last quarter. Hedge funds and other institutional investors own 57.37% of the company’s stock.
Box, Inc provides an enterprise content management platform that enables organizations of all sizes to manage enterprise content while allowing access and sharing of this content from anywhere, on any device. With the Company’s Software-as-a-Service (SaaS) cloud-based platform, users can collaborate on content both internally and with external parties, automate content-driven business processes, develop custom applications, and implement data protection, security and compliance features to comply with internal policies and industry regulations.
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