Drexel Hamilton Increases Box Inc. (BOX) Price Target to $22.00
Box Inc. (NYSE:BOX) had its price objective lifted by equities research analysts at Drexel Hamilton to $22.00 in a research note issued on Thursday. Drexel Hamilton’s price target indicates a potential upside of 44.55% from the stock’s previous close.
BOX has been the topic of several other reports. Credit Suisse Group AG restated a “neutral” rating on shares of Box in a report on Monday, September 19th. Vetr upgraded Box from a “buy” rating to a “strong-buy” rating and set a $16.92 price target on the stock in a report on Wednesday, October 26th. Oppenheimer Holdings Inc. reiterated an “outperform” rating and issued a $18.00 price target on shares of Box in a report on Monday, September 5th. Zacks Investment Research upgraded Box from a “sell” rating to a “hold” rating in a report on Thursday, September 1st. Finally, KeyCorp reiterated an “overweight” rating and issued a $21.00 price target on shares of Box in a report on Saturday, September 10th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $18.21.
Shares of Box (NYSE:BOX) opened at 15.22 on Thursday. The stock’s market cap is $1.93 billion. The company’s 50-day moving average price is $14.84 and its 200-day moving average price is $13.05. Box has a 52-week low of $8.82 and a 52-week high of $16.59.
Box (NYSE:BOX) last released its quarterly earnings data on Wednesday, November 30th. The company reported ($0.14) EPS for the quarter, topping the consensus estimate of ($0.19) by $0.05. The company had revenue of $102.80 million for the quarter, compared to the consensus estimate of $103.34 million. Box had a negative return on equity of 133.73% and a negative net margin of 52.12%. Box’s quarterly revenue was up 30.6% on a year-over-year basis. During the same period last year, the business posted ($0.31) EPS. On average, equities research analysts forecast that Box will post ($0.68) earnings per share for the current fiscal year.
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In other Box news, COO Daniel J. Levin sold 5,000 shares of Box stock in a transaction dated Tuesday, September 13th. The stock was sold at an average price of $14.44, for a total transaction of $72,200.00. Following the completion of the sale, the chief operating officer now owns 3,079 shares of the company’s stock, valued at approximately $44,460.76. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Jeff Mannie sold 3,756 shares of Box stock in a transaction dated Monday, September 26th. The stock was sold at an average price of $14.67, for a total value of $55,100.52. The disclosure for this sale can be found here. Company insiders own 22.30% of the company’s stock.
Hedge funds have recently modified their holdings of the company. Oppenheimer & Co. Inc. bought a new position in Box during the second quarter worth $192,000. Bares Capital Management Inc. raised its position in Box by 48.6% in the second quarter. Bares Capital Management Inc. now owns 5,136,447 shares of the company’s stock worth $53,111,000 after buying an additional 1,680,699 shares during the last quarter. California State Teachers Retirement System raised its position in Box by 268.5% in the second quarter. California State Teachers Retirement System now owns 102,363 shares of the company’s stock worth $1,058,000 after buying an additional 74,585 shares during the last quarter. Bank of New York Mellon Corp raised its position in Box by 93.6% in the second quarter. Bank of New York Mellon Corp now owns 158,830 shares of the company’s stock worth $1,642,000 after buying an additional 76,779 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. raised its position in Box by 71.4% in the second quarter. Schwab Charles Investment Management Inc. now owns 137,449 shares of the company’s stock worth $1,422,000 after buying an additional 57,258 shares during the last quarter. 27.58% of the stock is owned by institutional investors.
Box Company Profile
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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