BOX (NYSE:BOX) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

BOX (NYSE:BOX - Get Free Report) had its price objective upped by stock analysts at JPMorgan Chase & Co. from $37.00 to $39.00 in a report issued on Wednesday,Benzinga reports. The firm currently has an "overweight" rating on the software maker's stock. JPMorgan Chase & Co.'s target price indicates a potential upside of 3.07% from the stock's current price.

Several other analysts also recently weighed in on BOX. Wall Street Zen upgraded BOX from a "buy" rating to a "strong-buy" rating in a research note on Wednesday, May 14th. Royal Bank of Canada upped their price target on BOX from $21.00 to $24.00 and gave the stock an "underperform" rating in a report on Wednesday. Raymond James restated an "outperform" rating and issued a $38.00 price objective (down previously from $40.00) on shares of BOX in a research note on Wednesday, March 5th. UBS Group raised shares of BOX from a "buy" rating to a "strong-buy" rating and boosted their target price for the stock from $37.00 to $40.00 in a research report on Wednesday. Finally, Morgan Stanley increased their price target on shares of BOX from $35.00 to $38.00 and gave the company an "equal weight" rating in a report on Wednesday. One analyst has rated the stock with a sell rating, one has issued a hold rating, seven have issued a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $38.50.

BOX Stock Up 1.3%

Shares of NYSE:BOX traded up $0.49 during trading on Wednesday, reaching $37.84. The stock had a trading volume of 3,948,945 shares, compared to its average volume of 1,909,790. The stock has a fifty day simple moving average of $31.19 and a two-hundred day simple moving average of $32.17. BOX has a 52 week low of $24.63 and a 52 week high of $37.96. The firm has a market capitalization of $5.44 billion, a price-to-earnings ratio of 47.30, a P/E/G ratio of 4.42 and a beta of 0.94.

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

BOX declared that its Board of Directors has approved a stock repurchase program on Tuesday, March 4th that permits the company to repurchase $150.00 million in shares. This repurchase authorization permits the software maker to purchase up to 3.1% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company's board of directors believes its shares are undervalued.

Insiders Place Their Bets

In related news, COO Olivia Nottebohm sold 2,105 shares of the stock in a transaction dated Tuesday, March 25th. The shares were sold at an average price of $30.76, for a total value of $64,749.80. Following the completion of the transaction, the chief operating officer now owns 427,113 shares of the company's stock, valued at $13,137,995.88. This represents a 0.49% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Eli Berkovitch sold 5,651 shares of BOX stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $30.66, for a total value of $173,259.66. Following the sale, the vice president now directly owns 124,672 shares in the company, valued at $3,822,443.52. The trade was a 4.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 66,377 shares of company stock worth $2,060,714 over the last 90 days. Corporate insiders own 3.90% of the company's stock.

Institutional Trading of BOX

Several institutional investors have recently bought and sold shares of BOX. TCTC Holdings LLC lifted its holdings in shares of BOX by 115.4% during the first quarter. TCTC Holdings LLC now owns 825 shares of the software maker's stock valued at $25,000 after acquiring an additional 442 shares during the period. 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 bought a new stake in BOX during the first quarter worth about $31,000. Geneos Wealth Management Inc. acquired a new stake in shares of BOX during the first quarter worth approximately $31,000. Finally, Versant Capital Management Inc increased its holdings in shares of BOX by 519.4% during the first 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. Institutional investors and hedge funds own 86.74% of the company's stock.

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.