BOX (NYSE:BOX) Upgraded by Wall Street Zen to “Buy” Rating

Wall Street Zen upgraded shares of BOX (NYSE:BOX) from a hold rating to a buy rating in a research note issued to investors on Saturday morning.

A number of other equities analysts have also recently commented on BOX. Royal Bank Of Canada increased their target price on BOX from $21.00 to $24.00 and gave the company an “underperform” rating in a report on Wednesday, May 28th. UBS Group raised BOX from a “buy” rating to a “strong-buy” rating and increased their price objective for the company from $37.00 to $40.00 in a research note on Wednesday, May 28th. DA Davidson set a $45.00 price objective on BOX and gave the company a “buy” rating in a report on Wednesday, May 28th. JPMorgan Chase & Co. lifted their target price on shares of BOX from $37.00 to $39.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 28th. Finally, Raymond James Financial reiterated an “outperform” rating and issued a $42.00 target price (up from $38.00) on shares of BOX in a research report on Wednesday, May 28th. One research analyst has rated the stock with a sell rating, one has issued a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, BOX has a consensus rating of “Moderate Buy” and a consensus price target of $38.50.

BOX Stock Performance

Shares of NYSE BOX opened at $34.35 on Friday. The firm has a fifty day moving average of $33.12 and a 200 day moving average of $32.42. The firm has a market cap of $4.94 billion, a PE ratio of 26.62 and a beta of 0.94. BOX has a one year low of $24.63 and a one year high of $38.80.

BOX (NYSE:BOX) last released its earnings results on Tuesday, May 27th. The software maker reported $0.30 EPS for the quarter, topping analysts’ consensus estimates of $0.25 by $0.05. BOX had a net margin of 21.38% and a negative return on equity of 20.17%. The business had revenue of $276.27 million during the quarter, compared to analysts’ expectations of $274.77 million. During the same quarter in the previous year, the company earned $0.39 earnings per share. The company’s quarterly revenue was up 4.4% on a year-over-year basis. On average, equities analysts predict that BOX will post 0.27 EPS for the current fiscal year.

BOX declared that its Board of Directors has authorized a stock repurchase plan on Tuesday, March 4th that permits the company to buyback $150.00 million in outstanding shares. This buyback authorization permits the software maker to buy up to 3.1% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s management believes its stock is undervalued.

Insider Activity at BOX

In related news, VP Eli Berkovitch sold 2,750 shares of BOX stock in a transaction that occurred on Thursday, April 10th. The shares were sold at an average price of $29.58, for a total value of $81,345.00. Following the completion of the sale, the vice president now owns 121,922 shares in the company, valued at approximately $3,606,452.76. This trade represents a 2.21% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Olivia Nottebohm sold 1,329 shares of the company’s stock in a transaction on Tuesday, June 10th. The stock was sold at an average price of $37.43, for a total value of $49,744.47. Following the transaction, the chief operating officer now owns 554,682 shares in the company, valued at $20,761,747.26. This trade represents a 0.24% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 93,373 shares of company stock valued at $3,221,337. 3.90% of the stock is owned by company insiders.

Hedge Funds Weigh In On BOX

Several hedge funds have recently bought and sold shares of BOX. Earnest Partners LLC increased its stake in BOX by 2.1% during the fourth quarter. Earnest Partners LLC now owns 7,896,931 shares of the software maker’s stock worth $249,543,000 after purchasing an additional 162,437 shares during the period. RGM Capital LLC lifted its holdings in BOX by 9.3% during the 1st quarter. RGM Capital LLC now owns 3,749,773 shares of the software maker’s stock worth $115,718,000 after buying an additional 318,459 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its stake in shares of BOX by 103.9% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 3,386,370 shares of the software maker’s stock worth $107,009,000 after acquiring an additional 1,725,197 shares in the last quarter. Sei Investments Co. grew its stake in shares of BOX by 8.4% in the fourth quarter. Sei Investments Co. now owns 3,286,619 shares of the software maker’s stock worth $103,857,000 after acquiring an additional 255,623 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its position in shares of BOX by 0.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,610,450 shares of the software maker’s stock worth $82,492,000 after acquiring an additional 11,376 shares during the period. Institutional investors and hedge funds own 86.74% of the company’s stock.

About BOX

Box, Inc engages in the provision of an enterprise content platform that enables organizations to securely manage enterprise content while allowing easy, secure access and sharing of this content from anywhere, on any device. Its products include cloud content management, IT and admin controls, Box Governance, Box Zones, Box Relay, Box Shuttle, and Box KeySafe.