Wall Street Zen Upgrades BOX (NYSE:BOX) to "Buy"

BOX (NYSE:BOX - Get Free Report) was upgraded by Wall Street Zen from a "hold" rating to a "buy" rating in a report released on Saturday.

Several other research firms also recently commented on BOX. Raymond James Financial restated an "outperform" rating and set a $42.00 target price (up previously from $38.00) on shares of BOX in a research report on Wednesday, May 28th. Royal Bank Of Canada increased their price objective on BOX from $21.00 to $24.00 and gave the stock an "underperform" rating in a research note on Wednesday, May 28th. UBS Group raised BOX from a "buy" rating to a "strong-buy" rating and lifted their price objective for the company from $37.00 to $40.00 in a report on Wednesday, May 28th. JPMorgan Chase & Co. boosted their target price on shares of BOX from $37.00 to $39.00 and gave the company an "overweight" rating in a research note on Wednesday, May 28th. Finally, DA Davidson set a $45.00 target price on shares of BOX and gave the stock a "buy" rating in a report on Wednesday, May 28th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, eight have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $38.50.

BOX Price Performance

BOX opened at $34.30 on Friday. The company has a market capitalization of $4.93 billion, a P/E ratio of 26.59 and a beta of 0.94. The firm's fifty day moving average price is $33.03 and its two-hundred day moving average price is $32.40. BOX has a fifty-two week low of $24.63 and a fifty-two week high of $38.80.

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

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

Insider Activity at BOX

In other BOX news, VP Eli Berkovitch sold 2,750 shares of the stock in a transaction on Thursday, April 10th. The stock was sold at an average price of $29.58, for a total value of $81,345.00. Following the transaction, the vice president now directly owns 121,922 shares in the company, valued at approximately $3,606,452.76. This trade represents a 2.21% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Olivia Nottebohm sold 1,329 shares of BOX stock in a transaction on Tuesday, June 10th. The shares were sold at an average price of $37.43, for a total value of $49,744.47. Following the completion of the sale, the chief operating officer now directly owns 554,682 shares of the company's stock, valued at $20,761,747.26. This trade represents a 0.24% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 101,129 shares of company stock valued at $3,459,346 over the last ninety days. 3.90% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of BOX. TCTC Holdings LLC increased its position in shares of BOX by 115.4% during the 1st quarter. TCTC Holdings LLC now owns 825 shares of the software maker's stock worth $25,000 after purchasing an additional 442 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. grew its stake in shares of 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 acquired a new position in BOX during the first quarter worth $31,000. Geneos Wealth Management Inc. bought a new stake in BOX during the first quarter worth $31,000. Finally, Versant Capital Management Inc lifted its stake in BOX by 519.4% in the first quarter. Versant Capital Management Inc now owns 1,951 shares of the software maker's stock valued at $60,000 after acquiring an additional 1,636 shares during the last quarter. 86.74% of the stock is owned by institutional investors and hedge funds.

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.

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