BOX's (BOX) "Outperform" Rating Reiterated at Raymond James

BOX (NYSE:BOX - Get Free Report)'s stock had its "outperform" rating restated by Raymond James in a research note issued to investors on Wednesday,Benzinga reports. They presently have a $42.00 price objective on the software maker's stock, up from their prior price objective of $38.00. Raymond James' target price points to a potential upside of 13.27% from the company's previous close.

Several other brokerages have also commented on BOX. Royal Bank of Canada upped their target price on BOX from $21.00 to $24.00 and gave the company an "underperform" rating in a research report on Wednesday. JPMorgan Chase & Co. upped their target price on shares of BOX from $37.00 to $39.00 and gave the stock an "overweight" rating in a report on Wednesday. DA Davidson lifted their price objective on shares of BOX from $40.00 to $45.00 and gave the stock a "buy" rating in a report on Wednesday. Morgan Stanley increased their price target on BOX from $35.00 to $38.00 and gave the company an "equal weight" rating in a research report on Wednesday. Finally, UBS Group lifted their price objective on shares of BOX from $37.00 to $40.00 and gave the stock a "buy" rating in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, two have given a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, BOX currently has a consensus rating of "Moderate Buy" and an average target price of $38.11.

BOX Trading Up 17.9%

BOX stock traded up $5.63 during trading on Wednesday, hitting $37.08. The company had a trading volume of 9,475,278 shares, compared to its average volume of 1,865,185. The business has a 50-day moving average of $30.78 and a 200-day moving average of $32.11. BOX has a one year low of $24.63 and a one year high of $37.21. The stock has a market cap of $5.33 billion, a PE ratio of 46.34, a PEG ratio of 4.42 and a beta of 0.94.

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

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

Insider Activity

In other BOX news, CEO Aaron Levie sold 10,000 shares of the stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $32.08, for a total value of $320,800.00. Following the completion of the sale, the chief executive officer now owns 2,979,780 shares in the company, valued at approximately $95,591,342.40. This trade represents a 0.33% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Dylan C. Smith sold 13,000 shares of BOX stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $31.95, for a total transaction of $415,350.00. Following the sale, the chief financial officer now directly owns 1,440,684 shares in the company, valued at $46,029,853.80. The trade was a 0.89% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 66,377 shares of company stock valued at $2,060,714. 3.90% of the stock is currently owned by company insiders.

Institutional Trading of BOX

Several institutional investors and hedge funds have recently bought and sold shares of BOX. TCTC Holdings LLC grew its position in BOX by 115.4% during the 1st quarter. TCTC Holdings LLC now owns 825 shares of the software maker's stock valued at $25,000 after purchasing an additional 442 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. grew its holdings in shares of BOX by 332.5% during 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 during the last quarter. MorganRosel Wealth Management LLC bought a new stake in shares of BOX during the first quarter valued at approximately $31,000. Geneos Wealth Management Inc. bought a new stake in shares of BOX during the first quarter valued at approximately $31,000. Finally, Versant Capital Management Inc raised its holdings in BOX by 519.4% in the 1st quarter. Versant Capital Management Inc now owns 1,951 shares of the software maker's stock worth $60,000 after acquiring an additional 1,636 shares during the last quarter. 86.74% of the stock is currently owned by hedge funds and other institutional investors.

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.

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