BOX (NYSE:BOX) Stock Rating Reaffirmed by Royal Bank of Canada

BOX (NYSE:BOXGet Free Report)‘s stock had its “underperform” rating reaffirmed by research analysts at Royal Bank of Canada in a report released on Wednesday, Benzinga reports. They presently have a $21.00 target price on the software maker’s stock. Royal Bank of Canada’s target price suggests a potential downside of 22.79% from the stock’s previous close.

A number of other equities research analysts also recently weighed in on the company. JMP Securities reaffirmed a “market outperform” rating and issued a $32.00 target price on shares of BOX in a report on Wednesday, March 20th. TheStreet raised BOX from a “c” rating to a “b” rating in a report on Tuesday, March 5th. StockNews.com raised BOX from a “buy” rating to a “strong-buy” rating in a report on Thursday, April 11th. Citigroup raised their price objective on BOX from $29.00 to $32.00 and gave the company a “buy” rating in a report on Wednesday, March 6th. Finally, JPMorgan Chase & Co. raised their price objective on BOX from $31.00 to $32.00 and gave the company an “overweight” rating in a report on Wednesday, March 6th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, BOX currently has an average rating of “Moderate Buy” and a consensus price target of $30.33.

Get Our Latest Research Report on BOX

BOX Price Performance

BOX stock traded up $2.16 during mid-day trading on Wednesday, reaching $27.20. 1,301,995 shares of the company were exchanged, compared to its average volume of 2,021,312. The company has a fifty day simple moving average of $26.99 and a 200-day simple moving average of $26.51. The firm has a market cap of $3.93 billion, a PE ratio of 40.57, a PEG ratio of 8.71 and a beta of 0.85. BOX has a 12 month low of $23.29 and a 12 month high of $31.94.

BOX (NYSE:BOXGet Free Report) last issued its earnings results on Tuesday, March 5th. The software maker reported $0.09 earnings per share for the quarter, beating analysts’ consensus estimates of $0.02 by $0.07. The firm had revenue of $262.88 million for the quarter, compared to the consensus estimate of $262.92 million. BOX had a negative return on equity of 9.46% and a net margin of 12.43%. Sell-side analysts anticipate that BOX will post 0.15 earnings per share for the current year.

Insiders Place Their Bets

In other BOX news, CFO Dylan C. Smith sold 13,000 shares of BOX stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $26.08, for a total transaction of $339,040.00. Following the transaction, the chief financial officer now directly owns 1,565,912 shares of the company’s stock, valued at approximately $40,838,984.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, CFO Dylan C. Smith sold 13,000 shares of BOX stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $26.08, for a total value of $339,040.00. Following the completion of the transaction, the chief financial officer now directly owns 1,565,912 shares of the company’s stock, valued at approximately $40,838,984.96. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Daniel J. Levin sold 73,660 shares of BOX stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $28.40, for a total value of $2,091,944.00. Following the completion of the transaction, the director now directly owns 43,940 shares of the company’s stock, valued at $1,247,896. The disclosure for this sale can be found here. In the last three months, insiders have sold 133,660 shares of company stock valued at $3,774,134. 4.10% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. DekaBank Deutsche Girozentrale bought a new stake in BOX in the 3rd quarter valued at about $38,000. a16z Perennial Management L.P. bought a new stake in BOX in the 4th quarter valued at about $48,000. TFO Wealth Partners LLC increased its position in BOX by 62,000.0% in the 4th quarter. TFO Wealth Partners LLC now owns 1,863 shares of the software maker’s stock valued at $48,000 after buying an additional 1,860 shares in the last quarter. Covestor Ltd increased its position in BOX by 27.3% in the 1st quarter. Covestor Ltd now owns 4,312 shares of the software maker’s stock valued at $122,000 after buying an additional 924 shares in the last quarter. Finally, Blue Trust Inc. increased its position in BOX by 17.0% in the 4th quarter. Blue Trust Inc. now owns 6,165 shares of the software maker’s stock valued at $149,000 after buying an additional 897 shares in the last quarter. 86.74% of the stock is owned by institutional investors.

About BOX

(Get Free Report)

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.

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