BOX (NYSE:BOX) Hits New 1-Year High - Here's What Happened

Key Points

• BOX shares reached a new 52-week high of $36.34, up from the prior close of $35.70, with nearly 1.8 million shares traded.
• Analyst sentiment remains mixed: the stock has a consensus “Hold” rating and a $37.80 target price, although Citigroup and DA Davidson recently raised their targets to $40 and $50, respectively.
• Quarterly results were broadly positive, with EPS matching estimates at $0.40 and revenue of $321.15 million exceeding forecasts; revenue increased 9.2% year over year. Insiders have sold $2.5 million worth of shares over the past three months.

Box, Inc. (NYSE:BOX - Get Free Report)'s share price reached a new 52-week high on Thursday. The stock traded as high as $36.34 and last traded at $36.3220, with a volume of 1786487 shares changing hands. The stock had previously closed at $35.70.

Wall Street Analyst Weigh In

BOX has been the subject of a number of recent analyst reports. Weiss Ratings raised shares of BOX from a "hold (c)" rating to a "hold (c+)" rating in a report on Tuesday. Citigroup raised their price target on BOX from $37.00 to $40.00 and gave the stock a "buy" rating in a research note on Wednesday, August 26th. Bank of America reaffirmed a "buy" rating on shares of BOX in a report on Wednesday, August 26th. Wall Street Zen downgraded shares of BOX from a "buy" rating to a "hold" rating in a research note on Sunday. Finally, DA Davidson lifted their target price on shares of BOX from $45.00 to $50.00 and gave the company a "buy" rating in a research note on Wednesday, August 26th. Three analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $37.80.

BOX Price Performance

The company has a 50 day moving average of $33.58 and a 200-day moving average of $28.60. The company has a market cap of $4.98 billion, a P/E ratio of 52.64, a price-to-earnings-growth ratio of 11.49 and a beta of 0.72.

BOX (NYSE:BOX - Get Free Report) last issued its earnings results on Tuesday, August 25th. The software maker reported $0.40 EPS for the quarter, meeting the consensus estimate of $0.40. The business had revenue of $321.15 million for the quarter, compared to the consensus estimate of $319.33 million. BOX had a negative return on equity of 20.97% and a net margin of 10.59%.The company's revenue was up 9.2% compared to the same quarter last year. During the same period last year, the business posted $0.33 EPS. BOX has set its Q3 2027 guidance at 0.390-0.390 EPS and its FY 2027 guidance at 1.540-1.540 EPS. Research analysts anticipate that Box, Inc. will post 0.32 EPS for the current year.

Insiders Place Their Bets

In related news, COO Olivia Nottebohm sold 5,293 shares of the company's stock in a transaction on Monday, October 5th. The shares were sold at an average price of $34.50, for a total transaction of $182,608.50. Following the completion of the sale, the chief operating officer directly owned 486,759 shares of the company's stock, valued at approximately $16,793,185.50. This represents a 1.08% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Dana Evan sold 6,158 shares of the stock in a transaction on Tuesday, September 15th. The shares were sold at an average price of $35.00, for a total transaction of $215,530.00. Following the transaction, the director owned 115,739 shares in the company, valued at $4,050,865. This trade represents a 5.05% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 75,969 shares of company stock worth $2,495,265. Corporate insiders own 3.99% of the company's stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Arrowstreet Capital Limited Partnership grew its holdings in shares of BOX by 15.5% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 4,511,258 shares of the software maker's stock valued at $134,932,000 after purchasing an additional 604,946 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in BOX by 0.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,674,883 shares of the software maker's stock worth $63,232,000 after acquiring an additional 13,983 shares during the last quarter. Janus Henderson Group PLC increased its position in shares of BOX by 74.9% during the first quarter. Janus Henderson Group PLC now owns 1,147,381 shares of the software maker's stock valued at $27,141,000 after buying an additional 491,505 shares during the period. Fort Washington Investment Advisors Inc. OH raised its position in shares of BOX by 4.4% during the 1st quarter. Fort Washington Investment Advisors Inc. OH now owns 1,029,407 shares of the software maker's stock valued at $24,335,000 after buying an additional 43,520 shares in the last quarter. Finally, Principal Financial Group Inc. grew its holdings in shares of BOX by 10.2% during the 1st quarter. Principal Financial Group Inc. now owns 1,010,921 shares of the software maker's stock valued at $23,898,000 after purchasing an additional 93,516 shares during the last quarter. 86.74% of the stock is owned by institutional investors and hedge funds.

BOX Company Profile

Box, Inc provides cloud-based content management and file-sharing services for businesses and other organizations. Its platform, known as Box Content Cloud, enables users to securely store, access, share and collaborate on documents and other digital content from connected devices.

The company's services include tools for workflow automation, electronic signatures, content governance, security, compliance and collaboration. Box also offers integrations with widely used business applications, helping organizations manage content across their existing technology environments.

Box was founded in 2005 by Aaron Levie, Dylan Smith, Sam Ghods and Jeff Queisser.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.