JPMorgan Chase & Co. Forecasts Strong Price Appreciation for BOX (NYSE:BOX) Stock

BOX (NYSE:BOX - Get Free Report) had its target price upped by equities research analysts at JPMorgan Chase & Co. from $37.00 to $39.00 in a note issued to investors on Wednesday,Benzinga reports. The firm currently has an "overweight" rating on the software maker's stock. JPMorgan Chase & Co.'s target price would indicate a potential upside of 6.07% from the company's current price.

A number of other equities research analysts have also recently weighed in on the company. UBS Group boosted their price objective on shares of BOX from $37.00 to $40.00 and gave the stock a "buy" rating in a research note on Wednesday. DA Davidson upped their price target on BOX from $40.00 to $45.00 and gave the stock a "buy" rating in a research report on Wednesday. Morgan Stanley raised their price objective on BOX from $35.00 to $38.00 and gave the stock an "equal weight" rating in a research report on Wednesday. Wall Street Zen raised BOX from a "buy" rating to a "strong-buy" rating in a research report on Wednesday, May 14th. Finally, Raymond James reissued an "outperform" rating and issued a $38.00 price target (down previously from $40.00) on shares of BOX in a report on Wednesday, March 5th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $37.67.

BOX Price Performance

Shares of NYSE:BOX traded up $5.32 during trading hours on Wednesday, hitting $36.77. 8,772,684 shares of the company's stock traded hands, compared to its average volume of 1,860,147. The business has a fifty day moving average price of $30.78 and a 200-day moving average price of $32.11. BOX has a 1 year low of $24.63 and a 1 year high of $37.21. The firm has a market capitalization of $5.29 billion, a P/E ratio of 45.87, a price-to-earnings-growth ratio of 4.42 and a beta of 0.94.

BOX (NYSE:BOX - Get Free Report) last announced its quarterly earnings data on Tuesday, May 27th. The software maker reported $0.30 earnings per share (EPS) for the quarter, topping the consensus estimate 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 for the quarter, compared to analysts' expectations of $274.77 million. During the same quarter in the prior year, the firm earned $0.39 earnings per share. BOX's revenue was up 4.4% compared to the same quarter last year. As a group, equities analysts predict that BOX will post 0.27 earnings per share for the current year.

BOX announced that its Board of Directors has approved a stock repurchase plan on Tuesday, March 4th that allows the company to repurchase $150.00 million in outstanding shares. This repurchase authorization allows the software maker to repurchase up to 3.1% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company's management believes its shares are undervalued.

Insider Transactions at BOX

In related news, COO Olivia Nottebohm sold 3,434 shares of BOX stock in a transaction that occurred on Friday, May 9th. The stock was sold at an average price of $31.54, for a total transaction of $108,308.36. Following the transaction, the chief operating officer now owns 556,011 shares in the company, valued at approximately $17,536,586.94. This trade represents a 0.61% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Dylan C. Smith sold 13,000 shares of BOX stock in a transaction on Friday, May 9th. The stock was sold at an average price of $31.52, for a total value of $409,760.00. Following the transaction, the chief financial officer now owns 1,520,550 shares in the company, valued at approximately $47,927,736. This represents a 0.85% decrease in their position. The disclosure for this sale can be found here. Insiders sold 66,377 shares of company stock valued at $2,060,714 over the last 90 days. Corporate insiders own 3.90% of the company's stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. TCTC Holdings LLC raised its holdings in BOX by 115.4% in the 1st quarter. TCTC Holdings LLC now owns 825 shares of the software maker's stock valued at $25,000 after buying an additional 442 shares during the period. Thurston Springer Miller Herd & Titak Inc. raised its stake in shares of BOX by 332.5% in the 1st quarter. Thurston Springer Miller Herd & Titak Inc. now owns 865 shares of the software maker's stock valued at $27,000 after acquiring an additional 665 shares during the period. MorganRosel Wealth Management LLC purchased a new stake in shares of BOX in the 1st quarter valued at approximately $31,000. Geneos Wealth Management Inc. acquired a new position in shares of BOX in the 1st quarter worth approximately $31,000. Finally, Versant Capital Management Inc boosted its position in shares of 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 purchasing an additional 1,636 shares during the period. 86.74% of the stock is currently owned by institutional investors and hedge funds.

BOX Company Profile

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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