BOX (BOX) Stock Rating Reaffirmed by Canaccord Genuity

BOX (NYSE:BOX)‘s stock had its “buy” rating reissued by research analysts at Canaccord Genuity in a report issued on Thursday, Marketbeat Ratings reports. They presently have a $24.00 price target on the software maker’s stock, down from their previous price target of $30.00. Canaccord Genuity’s price target indicates a potential upside of 19.46% from the company’s previous close.

Several other research firms have also recently issued reports on BOX. Rosenblatt Securities reaffirmed a “neutral” rating and issued a $21.00 price target (down from $27.00) on shares of BOX in a report on Thursday. Zacks Investment Research cut shares of BOX from a “hold” rating to a “sell” rating in a report on Monday, December 3rd. Morgan Stanley cut their price target on shares of BOX from $21.00 to $19.00 and set an “equal weight” rating on the stock in a report on Thursday. William Blair initiated coverage on shares of BOX in a report on Tuesday, December 11th. They issued an “outperform” rating on the stock. Finally, JMP Securities cut their price target on shares of BOX from $32.00 to $24.00 and set an “outperform” rating on the stock in a report on Thursday, November 29th. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and eleven have assigned a buy rating to the company. BOX currently has a consensus rating of “Buy” and a consensus price target of $25.13.

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Shares of BOX stock opened at $20.09 on Thursday. The firm has a market capitalization of $3.51 billion, a PE ratio of -20.93 and a beta of 1.53. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 2.88. BOX has a twelve month low of $15.64 and a twelve month high of $29.79.

BOX (NYSE:BOX) last announced its earnings results on Wednesday, February 27th. The software maker reported $0.06 earnings per share for the quarter, beating the consensus estimate of $0.02 by $0.04. The business had revenue of $163.70 million during the quarter, compared to the consensus estimate of $164.16 million. BOX had a negative net margin of 25.39% and a negative return on equity of 482.42%. The business’s quarterly revenue was up 19.8% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.06) earnings per share. On average, research analysts predict that BOX will post -0.86 EPS for the current year.

In other BOX news, Director Daniel J. Levin sold 30,000 shares of the stock in a transaction on Monday, January 7th. The shares were sold at an average price of $18.90, for a total transaction of $567,000.00. Following the sale, the director now directly owns 5,790 shares of the company’s stock, valued at $109,431. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Dylan C. Smith sold 45,000 shares of the stock in a transaction on Monday, February 11th. The stock was sold at an average price of $23.57, for a total transaction of $1,060,650.00. Following the sale, the chief financial officer now directly owns 1,124,274 shares in the company, valued at $26,499,138.18. The disclosure for this sale can be found here. Insiders have sold 145,000 shares of company stock worth $3,105,250 over the last three months. 8.51% of the stock is owned by corporate insiders.

Several large investors have recently modified their holdings of BOX. SQN Investors LP raised its holdings in shares of BOX by 67.2% during the fourth quarter. SQN Investors LP now owns 3,955,464 shares of the software maker’s stock worth $66,768,000 after purchasing an additional 1,589,667 shares during the period. FMR LLC raised its holdings in shares of BOX by 456.7% during the fourth quarter. FMR LLC now owns 1,843,317 shares of the software maker’s stock worth $31,115,000 after purchasing an additional 1,512,201 shares during the period. Clearbridge Investments LLC acquired a new stake in shares of BOX during the third quarter worth $29,552,000. Portolan Capital Management LLC raised its holdings in shares of BOX by 198.5% during the fourth quarter. Portolan Capital Management LLC now owns 1,513,011 shares of the software maker’s stock worth $25,540,000 after purchasing an additional 1,006,179 shares during the period. Finally, Vanguard Group Inc raised its holdings in shares of BOX by 7.3% during the third quarter. Vanguard Group Inc now owns 13,567,400 shares of the software maker’s stock worth $324,397,000 after purchasing an additional 919,030 shares during the period. 61.87% of the stock is currently owned by institutional investors.

About BOX

Box, Inc provides cloud content management platform that enables organizations of various sizes to manage and share their enterprise content from anywhere or any device. The company's Software-as-a-Service platform enables users to collaborate on content internally and with external parties, automate content-driven business processes, develop custom applications, and implement data protection, security, and compliance features.

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