BOX (NYSE:BOX) Stock Rating Upgraded by Wall Street Zen

Key Points

• Wall Street Zen upgraded BOX from a "hold" to a "strong-buy", reflecting a bullish view from that research firm.
• Analyst coverage is mixed—four Buy, four Hold and one Sell—with a MarketBeat consensus rating of "Hold" and an average price target of $35.57.
• Box reported an earnings beat (EPS $0.49 vs. $0.33 expected) and 9.4% revenue growth to $305.9M, while insiders sold about 84,999 shares over the past 90 days and now own 3.9% of the company.

BOX (NYSE:BOX - Get Free Report) was upgraded by stock analysts at Wall Street Zen from a "hold" rating to a "strong-buy" rating in a research note issued to investors on Saturday.

Other equities research analysts also recently issued reports about the stock. DA Davidson reissued a "buy" rating and issued a $45.00 price target on shares of BOX in a report on Wednesday, December 3rd. UBS Group lowered their price objective on shares of BOX from $31.00 to $28.00 and set a "hold" rating on the stock in a research note on Wednesday, March 4th. Weiss Ratings reiterated a "hold (c+)" rating on shares of BOX in a report on Monday, December 29th. Morgan Stanley cut their target price on shares of BOX from $38.00 to $33.00 and set an "equal weight" rating for the company in a research note on Thursday. Finally, Citigroup reduced their target price on shares of BOX from $40.00 to $36.00 and set a "buy" rating for the company in a report on Wednesday, March 4th. Four investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $35.57.

BOX Stock Performance

Shares of BOX stock opened at $24.88 on Friday. BOX has a 1 year low of $21.61 and a 1 year high of $38.80. The stock has a market cap of $3.56 billion, a PE ratio of 42.16, a price-to-earnings-growth ratio of 1.21 and a beta of 0.80. The business's fifty day moving average is $25.35 and its 200-day moving average is $29.43.

BOX (NYSE:BOX - Get Free Report) last posted its quarterly earnings data on Tuesday, March 3rd. The software maker reported $0.49 EPS for the quarter, topping analysts' consensus estimates of $0.33 by $0.16. BOX had a negative return on equity of 23.61% and a net margin of 9.80%.The company had revenue of $305.88 million for the quarter, compared to the consensus estimate of $305.64 million. During the same quarter in the previous year, the business earned $0.42 EPS. The company's quarterly revenue was up 9.4% compared to the same quarter last year. Equities research analysts predict that BOX will post 0.27 earnings per share for the current year.

Insider Buying and Selling

In other BOX news, COO Olivia Nottebohm sold 4,612 shares of the firm's stock in a transaction dated Friday, March 6th. The shares were sold at an average price of $25.78, for a total value of $118,897.36. Following the completion of the transaction, the chief operating officer directly owned 465,219 shares in the company, valued at $11,993,345.82. This trade represents a 0.98% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, VP Eli Berkovitch sold 5,163 shares of BOX stock in a transaction that occurred on Monday, December 15th. The stock was sold at an average price of $29.96, for a total transaction of $154,683.48. Following the completion of the transaction, the vice president directly owned 123,684 shares in the company, valued at approximately $3,705,572.64. This trade represents a 4.01% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 84,999 shares of company stock worth $2,245,779. Company insiders own 3.90% of the company's stock.

Institutional Investors Weigh In On BOX

Several hedge funds have recently made changes to their positions in BOX. XTX Topco Ltd grew its position in BOX by 283.2% during the 4th quarter. XTX Topco Ltd now owns 99,652 shares of the software maker's stock worth $2,981,000 after purchasing an additional 73,645 shares in the last quarter. Voloridge Investment Management LLC lifted its holdings in shares of BOX by 76.2% in the fourth quarter. Voloridge Investment Management LLC now owns 681,785 shares of the software maker's stock valued at $20,392,000 after purchasing an additional 294,954 shares in the last quarter. Toronto Dominion Bank purchased a new stake in shares of BOX in the fourth quarter valued at $60,000. Tudor Investment Corp ET AL boosted its position in shares of BOX by 294.9% in the fourth quarter. Tudor Investment Corp ET AL now owns 449,973 shares of the software maker's stock worth $13,459,000 after buying an additional 336,023 shares during the period. Finally, Numerai GP LLC boosted its position in shares of BOX by 152.4% in the fourth quarter. Numerai GP LLC now owns 46,524 shares of the software maker's stock worth $1,392,000 after buying an additional 28,091 shares during the period. Hedge funds and other institutional investors own 86.74% of the company's stock.

BOX Company Profile

Box, Inc is a leading provider of cloud content management and file sharing solutions designed to support enterprises in securely managing, accessing and collaborating on digital content from anywhere. The company offers a unified platform that enables organizations to store, share and automate workflows across various departments, enhancing productivity and ensuring governance over sensitive information. Box's services are tailored to meet the needs of industries such as healthcare, financial services, government and media, where compliance and data security are paramount.

The core offerings of Box include its Content Cloud platform, which provides content collaboration, workflow automation, data classification and secure file sharing.

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