Brokerages Set Box, Inc. (NYSE:BOX) PT at $38.50

Shares of Box, Inc. (NYSE:BOX - Get Free Report) have been given an average recommendation of "Moderate Buy" by the ten ratings firms that are presently covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $38.50.

A number of research firms have recently weighed in on BOX. Raymond James reaffirmed an "outperform" rating and set a $42.00 price target (up previously from $38.00) on shares of BOX in a report on Wednesday, May 28th. DA Davidson set a $45.00 price objective on BOX and gave the stock a "buy" rating in a report on Wednesday, May 28th. Wall Street Zen raised shares of BOX from a "buy" rating to a "strong-buy" rating in a report on Wednesday, May 14th. JPMorgan Chase & Co. increased their price target on shares of BOX from $37.00 to $39.00 and gave the company an "overweight" rating in a research report on Wednesday, May 28th. Finally, Morgan Stanley reiterated a "positive" rating on shares of BOX in a report on Wednesday, May 28th.

BOX Stock Performance

Shares of BOX traded down $0.10 during midday trading on Thursday, hitting $35.82. 1,472,510 shares of the stock were exchanged, compared to its average volume of 1,943,653. The stock has a fifty day simple moving average of $32.22 and a 200 day simple moving average of $32.39. BOX has a 52-week low of $24.63 and a 52-week high of $38.80. The firm has a market cap of $5.15 billion, a P/E ratio of 44.78, a P/E/G ratio of 4.42 and a beta of 0.94.

BOX (NYSE:BOX - Get Free Report) last released its earnings results on Tuesday, May 27th. The software maker reported $0.30 EPS for the quarter, beating analysts' consensus estimates of $0.25 by $0.05. BOX had a negative return on equity of 17.20% and a net margin of 13.96%. The company had revenue of $276.27 million during the quarter, compared to the consensus estimate of $274.77 million. During the same quarter last year, the company earned $0.39 earnings per share. BOX's quarterly revenue was up 4.4% compared to the same quarter last year. As a group, equities research analysts forecast that BOX will post 0.27 EPS for the current fiscal year.

BOX announced that its Board of Directors has authorized a share repurchase plan on Tuesday, March 4th that authorizes the company to buyback $150.00 million in shares. This buyback authorization authorizes the software maker to reacquire up to 3.1% of its stock through open market purchases. Stock buyback plans are generally a sign that the company's board of directors believes its stock is undervalued.

Insider Transactions at BOX

In related news, Director Daniel J. Levin sold 37,499 shares of the stock in a transaction on Thursday, May 29th. The stock was sold at an average price of $36.74, for a total value of $1,377,713.26. Following the completion of the transaction, the director now directly owns 51,530 shares of the company's stock, valued at approximately $1,893,212.20. This represents a 42.12% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Olivia Nottebohm sold 1,329 shares of the firm's stock in a transaction that occurred on Tuesday, June 10th. The shares were sold at an average price of $37.43, for a total transaction of $49,744.47. Following the completion of the transaction, the chief operating officer now directly owns 554,682 shares of the company's stock, valued at $20,761,747.26. This represents a 0.24% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 101,129 shares of company stock valued at $3,459,346. Company insiders own 3.90% of the company's stock.

Institutional Investors Weigh In On BOX

Several institutional investors and hedge funds have recently modified their holdings of BOX. TCTC Holdings LLC raised its stake in shares of BOX by 115.4% in the 1st quarter. TCTC Holdings LLC now owns 825 shares of the software maker's stock worth $25,000 after buying an additional 442 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. boosted its position in BOX by 332.5% in the first quarter. Thurston Springer Miller Herd & Titak Inc. now owns 865 shares of the software maker's stock valued at $27,000 after buying an additional 665 shares in the last quarter. MorganRosel Wealth Management LLC acquired a new stake in BOX in the first quarter worth about $31,000. Geneos Wealth Management Inc. acquired a new position in BOX in the first quarter valued at about $31,000. Finally, Versant Capital Management Inc lifted its position in BOX by 519.4% during the 1st quarter. Versant Capital Management Inc now owns 1,951 shares of the software maker's stock worth $60,000 after buying an additional 1,636 shares in the last quarter. Hedge funds and other institutional investors 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.