BOX (NYSE:BOX) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of BOX (NYSE:BOX - Free Report) from a hold rating to a buy rating in a research report sent to investors on Saturday.

Other analysts have also issued research reports about the stock. Royal Bank Of Canada boosted their price target on shares of BOX from $21.00 to $24.00 and gave the company an "underperform" rating in a research note on Wednesday, May 28th. UBS Group upgraded shares of BOX from a "buy" rating to a "strong-buy" rating and increased their target price for the company from $37.00 to $40.00 in a report on Wednesday, May 28th. Raymond James Financial restated an "outperform" rating and set a $42.00 price target (up from $38.00) on shares of BOX in a report on Wednesday, May 28th. DA Davidson set a $45.00 target price on shares of BOX and gave the stock a "buy" rating in a research report on Wednesday, May 28th. Finally, JPMorgan Chase & Co. upped their target price on BOX from $37.00 to $39.00 and gave the company an "overweight" rating in a report on Wednesday, May 28th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $38.50.

BOX Stock Performance

Shares of BOX stock traded up $0.14 on Friday, reaching $34.53. 1,849,865 shares of the company's stock were exchanged, compared to its average volume of 1,935,466. The company has a market capitalization of $4.96 billion, a P/E ratio of 26.76 and a beta of 0.94. BOX has a 52 week low of $24.63 and a 52 week high of $38.80. The firm's 50-day moving average is $33.12 and its two-hundred day moving average is $32.42.

BOX (NYSE:BOX - Get Free Report) last posted its quarterly earnings results on Tuesday, May 27th. The software maker reported $0.30 earnings per share for the quarter, beating the consensus estimate of $0.25 by $0.05. The firm had revenue of $276.27 million during the quarter, compared to the consensus estimate of $274.77 million. BOX had a net margin of 21.38% and a negative return on equity of 20.17%. The business's revenue was up 4.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.39 earnings per share. On average, analysts expect that BOX will post 0.27 EPS for the current fiscal year.

BOX declared that its Board of Directors has approved a share repurchase plan on Tuesday, March 4th that permits the company to buyback $150.00 million in outstanding shares. This buyback authorization permits the software maker to reacquire up to 3.1% of its shares through open market purchases. Shares buyback plans are often a sign that the company's board of directors believes its shares are undervalued.

Insider Activity

In other BOX news, COO Olivia Nottebohm sold 1,332 shares of the business's stock in a transaction on Monday, April 7th. The shares were sold at an average price of $29.01, for a total transaction of $38,641.32. Following the sale, the chief operating officer now owns 492,545 shares of the company's stock, valued at $14,288,730.45. The trade was a 0.27% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Dylan C. Smith sold 13,000 shares of BOX stock in a transaction on Tuesday, June 10th. The shares were sold at an average price of $37.23, for a total value of $483,990.00. Following the completion of the transaction, the chief financial officer now owns 1,507,550 shares of the company's stock, valued at approximately $56,126,086.50. This trade represents a 0.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 93,373 shares of company stock valued at $3,221,337 in the last 90 days. Insiders own 3.90% of the company's stock.

Institutional Investors Weigh In On BOX

Institutional investors and hedge funds have recently modified their holdings of the company. TCTC Holdings LLC grew its stake in 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 in the last quarter. Thurston Springer Miller Herd & Titak Inc. boosted its holdings in 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 purchasing an additional 665 shares during the period. MorganRosel Wealth Management LLC purchased a new position in shares of BOX during the 1st quarter valued at $31,000. Geneos Wealth Management Inc. purchased a new position in shares of BOX during the 1st quarter valued at $31,000. Finally, Versant Capital Management Inc increased 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 period. 86.74% of the stock is 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.