JMP Securities Cuts BOX (BOX) Price Target to $24.00

BOX (NYSE:BOX) had its price target decreased by JMP Securities from $32.00 to $24.00 in a research report released on Thursday, The Fly reports. JMP Securities currently has an outperform rating on the software maker’s stock. The analysts noted that the move was a valuation call.

Several other equities research analysts have also issued reports on BOX. Rosenblatt Securities reiterated a hold rating and set a $25.00 target price on shares of BOX in a research report on Sunday, August 26th. DA Davidson dropped their target price on shares of BOX from $31.00 to $30.00 and set a buy rating for the company in a research report on Wednesday, August 29th. ValuEngine lowered shares of BOX from a strong-buy rating to a buy rating in a research report on Thursday, August 30th. Deutsche Bank initiated coverage on shares of BOX in a research report on Monday, October 8th. They set a hold rating and a $22.00 target price for the company. Finally, Raymond James dropped their target price on shares of BOX from $33.00 to $25.00 and set an outperform rating for the company in a research report on Monday, October 15th. Six analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. BOX presently has an average rating of Buy and an average target price of $26.00.

BOX stock opened at $18.79 on Thursday. The company has a debt-to-equity ratio of 2.04, a current ratio of 0.95 and a quick ratio of 0.95. BOX has a 12 month low of $15.71 and a 12 month high of $29.79. The company has a market capitalization of $2.66 billion, a PE ratio of -16.20 and a beta of 1.42.

BOX (NYSE:BOX) last announced its earnings results on Wednesday, November 28th. The software maker reported ($0.06) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.07) by $0.01. BOX had a negative net margin of 25.39% and a negative return on equity of 457.76%. The business had revenue of $155.94 million during the quarter, compared to analyst estimates of $154.58 million. During the same period in the previous year, the business posted ($0.13) earnings per share. BOX’s revenue for the quarter was up 20.6% on a year-over-year basis. Equities research analysts predict that BOX will post -0.99 EPS for the current year.

In other BOX news, CFO Dylan C. Smith sold 15,000 shares of BOX stock in a transaction that occurred on Monday, September 10th. The shares were sold at an average price of $24.71, for a total transaction of $370,650.00. Following the transaction, the chief financial officer now directly owns 1,169,274 shares of the company’s stock, valued at $28,892,760.54. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Daniel J. Levin sold 30,000 shares of BOX stock in a transaction that occurred on Monday, October 15th. The stock was sold at an average price of $18.90, for a total transaction of $567,000.00. Following the transaction, the director now directly owns 5,790 shares in the company, valued at $109,431. The disclosure for this sale can be found here. Insiders have sold 127,000 shares of company stock worth $2,904,330 over the last three months. Insiders own 8.51% of the company’s stock.

Hedge funds have recently bought and sold shares of the business. Spirit of America Management Corp NY purchased a new position in shares of BOX during the third quarter worth approximately $100,000. Cypress Capital Management LLC WY purchased a new position in shares of BOX during the second quarter worth approximately $113,000. Edge Wealth Management LLC raised its stake in shares of BOX by 641.2% during the third quarter. Edge Wealth Management LLC now owns 5,433 shares of the software maker’s stock worth $130,000 after acquiring an additional 4,700 shares in the last quarter. Belpointe Asset Management LLC purchased a new position in shares of BOX during the third quarter worth approximately $132,000. Finally, Clear Perspective Advisors LLC purchased a new position in shares of BOX during the second quarter worth approximately $170,000. 64.92% of the stock is currently owned by hedge funds and other institutional investors.

BOX Company Profile

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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