BOX (NYSE:BOX) Price Target Raised to $38.00

BOX (NYSE:BOX - Free Report) had its price objective upped by Morgan Stanley from $35.00 to $38.00 in a research report sent to investors on Wednesday morning,Benzinga reports. The firm currently has an equal weight rating on the software maker's stock.

A number of other research analysts also recently weighed in on BOX. Raymond James reissued an "outperform" rating and issued a $38.00 target price (down previously from $40.00) on shares of BOX in a report on Wednesday, March 5th. DA Davidson set a $45.00 price objective on shares of BOX and gave the stock a "buy" rating in a research note on Wednesday. JPMorgan Chase & Co. dropped their price objective on shares of BOX from $38.00 to $37.00 and set an "overweight" rating on the stock in a report on Wednesday, March 5th. Royal Bank of Canada upped their target price on shares of BOX from $21.00 to $24.00 and gave the company an "underperform" rating in a report on Wednesday. Finally, UBS Group upgraded shares of BOX from a "buy" rating to a "strong-buy" rating and increased their price target for the stock from $37.00 to $40.00 in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, one has given a hold rating, seven have issued a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $38.50.

BOX Stock Performance

Shares of BOX stock traded up $0.49 during trading hours on Wednesday, reaching $37.84. The company had a trading volume of 3,948,945 shares, compared to its average volume of 1,909,790. The business has a fifty day moving average price of $31.19 and a 200-day moving average price of $32.17. BOX has a one year low of $24.63 and a one year high of $37.96. The firm has a market cap of $5.44 billion, a PE ratio of 47.30, a price-to-earnings-growth 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 EPS 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%. The firm's revenue was up 4.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.39 EPS. Equities research analysts forecast that BOX will post 0.27 EPS for the current year.

BOX announced that its Board of Directors has initiated a share buyback program on Tuesday, March 4th that permits the company to repurchase $150.00 million in shares. This repurchase authorization permits the software maker to repurchase 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 stock is undervalued.

Insiders Place Their Bets

In related news, CFO Dylan C. Smith sold 13,000 shares of the company's stock in a transaction on Friday, May 9th. The shares were sold at an average price of $31.52, for a total transaction of $409,760.00. Following the sale, the chief financial officer now owns 1,520,550 shares of the company's stock, valued at $47,927,736. This represents a 0.85% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Aaron Levie sold 10,000 shares of the stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $32.08, for a total transaction of $320,800.00. Following the completion of the transaction, the chief executive officer now directly owns 2,979,780 shares of the company's stock, valued at approximately $95,591,342.40. The trade was a 0.33% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 66,377 shares of company stock worth $2,060,714. Corporate insiders own 3.90% of the company's stock.

Institutional Trading of BOX

Several institutional investors have recently added to or reduced their stakes in BOX. TCTC Holdings LLC boosted its holdings 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 acquiring an additional 442 shares during the period. Thurston Springer Miller Herd & Titak Inc. lifted its position 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 worth $27,000 after purchasing an additional 665 shares during the last quarter. MorganRosel Wealth Management LLC bought a new stake in shares of BOX during the first quarter worth $31,000. Geneos Wealth Management Inc. purchased a new stake in shares of BOX during the first quarter valued at $31,000. Finally, Versant Capital Management Inc grew its holdings in shares of BOX by 519.4% in the first 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 last quarter. Institutional investors 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.