Box’s (BOX) “Buy” Rating Reaffirmed at Rosenblatt Securities

Rosenblatt Securities reaffirmed their buy rating on shares of Box, Inc. (NYSE:BOX) in a report released on Monday morning. The firm currently has a $25.00 price objective on the software maker’s stock.

A number of other research analysts have also issued reports on the company. Canaccord Genuity reissued a buy rating and issued a $24.00 target price on shares of Box in a report on Friday. Raymond James Financial, Inc. raised Box from a market perform rating to an outperform rating and set a $26.00 target price on the stock in a report on Monday, September 25th. UBS AG raised Box from a market perform rating to an outperform rating and set a $26.00 target price on the stock in a report on Monday, September 25th. Oppenheimer Holdings, Inc. reissued an outperform rating and issued a $22.00 target price on shares of Box in a report on Sunday, September 3rd. Finally, Mitsubishi UFJ Financial Group raised Box to an overweight rating and boosted their target price for the company from $23.00 to $24.00 in a report on Thursday, August 31st. Three equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. Box has a consensus rating of Buy and an average price target of $23.32.

Shares of Box (NYSE BOX) opened at 19.13 on Monday. The stock’s market cap is $2.56 billion. The firm has a 50-day moving average price of $18.60 and a 200 day moving average price of $18.60. Box has a 52-week low of $13.56 and a 52-week high of $19.44.

Box (NYSE:BOX) last released its earnings results on Wednesday, August 30th. The software maker reported ($0.11) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.13) by $0.02. The business had revenue of $122.94 million for the quarter, compared to analyst estimates of $121.75 million. Box had a negative return on equity of 232.81% and a negative net margin of 34.11%. The company’s revenue for the quarter was up 28.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.14) earnings per share. Analysts expect that Box will post ($0.45) earnings per share for the current year.

TRADEMARK VIOLATION WARNING: “Box’s (BOX) “Buy” Rating Reaffirmed at Rosenblatt Securities” was posted by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are viewing this piece on another website, it was illegally copied and reposted in violation of United States and international copyright and trademark laws. The original version of this piece can be accessed at https://ledgergazette.com/2017/10/10/boxs-box-buy-rating-reaffirmed-at-rosenblatt-securities-2.html.

In related news, VP Jeff Mannie sold 6,145 shares of the company’s stock in a transaction on Thursday, September 28th. The stock was sold at an average price of $19.00, for a total transaction of $116,755.00. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, COO Daniel J. Levin sold 40,000 shares of the company’s stock in a transaction on Monday, July 17th. The stock was sold at an average price of $18.93, for a total value of $757,200.00. Following the transaction, the chief operating officer now directly owns 3,752 shares in the company, valued at approximately $71,025.36. The disclosure for this sale can be found here. Insiders have sold 986,534 shares of company stock worth $18,436,451 in the last ninety days. 20.59% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently made changes to their positions in BOX. Vanguard Group Inc. grew its holdings in Box by 79.0% during the second quarter. Vanguard Group Inc. now owns 7,977,960 shares of the software maker’s stock worth $145,518,000 after acquiring an additional 3,521,030 shares during the period. Wells Fargo & Company MN grew its holdings in Box by 3,627.5% during the second quarter. Wells Fargo & Company MN now owns 3,462,849 shares of the software maker’s stock worth $63,162,000 after acquiring an additional 3,369,948 shares during the period. Whale Rock Capital Management LLC acquired a new position in Box during the second quarter worth $32,382,000. JPMorgan Chase & Co. grew its holdings in Box by 3,041.0% during the second quarter. JPMorgan Chase & Co. now owns 1,366,608 shares of the software maker’s stock worth $24,927,000 after acquiring an additional 1,323,099 shares during the period. Finally, Renaissance Technologies LLC grew its holdings in Box by 453.9% during the first quarter. Renaissance Technologies LLC now owns 1,544,400 shares of the software maker’s stock worth $25,189,000 after acquiring an additional 1,265,600 shares during the period. 57.37% of the stock is currently owned by hedge funds and other institutional investors.

A number of other research analysts have also issued reports on the company. Canaccord Genuity reissued a buy rating and issued a $24.00 target price on shares of Box in a report on Friday. Raymond James Financial, Inc. raised Box from a market perform rating to an outperform rating and set a $26.00 target price on the stock in a report on Monday, September 25th. UBS AG raised Box from a market perform rating to an outperform rating and set a $26.00 target price on the stock in a report on Monday, September 25th. Oppenheimer Holdings, Inc. reissued an outperform rating and issued a $22.00 target price on shares of Box in a report on Sunday, September 3rd. Finally, Mitsubishi UFJ Financial Group raised Box to an overweight rating and boosted their target price for the company from $23.00 to $24.00 in a report on Thursday, August 31st. Three equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. Box has a consensus rating of Buy and an average price target of $23.32.

Shares of Box (NYSE BOX) opened at 19.13 on Monday. The stock’s market cap is $2.56 billion. The firm has a 50-day moving average price of $18.60 and a 200 day moving average price of $18.60. Box has a 52-week low of $13.56 and a 52-week high of $19.44.

Box (NYSE:BOX) last released its earnings results on Wednesday, August 30th. The software maker reported ($0.11) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.13) by $0.02. The business had revenue of $122.94 million for the quarter, compared to analyst estimates of $121.75 million. Box had a negative return on equity of 232.81% and a negative net margin of 34.11%. The company’s revenue for the quarter was up 28.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.14) earnings per share. Analysts expect that Box will post ($0.45) earnings per share for the current year.

TRADEMARK VIOLATION WARNING: “Box’s (BOX) “Buy” Rating Reaffirmed at Rosenblatt Securities” was posted by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are viewing this piece on another website, it was illegally copied and reposted in violation of United States and international copyright and trademark laws. The original version of this piece can be accessed at https://ledgergazette.com/2017/10/10/boxs-box-buy-rating-reaffirmed-at-rosenblatt-securities-2.html.

In related news, VP Jeff Mannie sold 6,145 shares of the company’s stock in a transaction on Thursday, September 28th. The stock was sold at an average price of $19.00, for a total transaction of $116,755.00. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, COO Daniel J. Levin sold 40,000 shares of the company’s stock in a transaction on Monday, July 17th. The stock was sold at an average price of $18.93, for a total value of $757,200.00. Following the transaction, the chief operating officer now directly owns 3,752 shares in the company, valued at approximately $71,025.36. The disclosure for this sale can be found here. Insiders have sold 986,534 shares of company stock worth $18,436,451 in the last ninety days. 20.59% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently made changes to their positions in BOX. Vanguard Group Inc. grew its holdings in Box by 79.0% during the second quarter. Vanguard Group Inc. now owns 7,977,960 shares of the software maker’s stock worth $145,518,000 after acquiring an additional 3,521,030 shares during the period. Wells Fargo & Company MN grew its holdings in Box by 3,627.5% during the second quarter. Wells Fargo & Company MN now owns 3,462,849 shares of the software maker’s stock worth $63,162,000 after acquiring an additional 3,369,948 shares during the period. Whale Rock Capital Management LLC acquired a new position in Box during the second quarter worth $32,382,000. JPMorgan Chase & Co. grew its holdings in Box by 3,041.0% during the second quarter. JPMorgan Chase & Co. now owns 1,366,608 shares of the software maker’s stock worth $24,927,000 after acquiring an additional 1,323,099 shares during the period. Finally, Renaissance Technologies LLC grew its holdings in Box by 453.9% during the first quarter. Renaissance Technologies LLC now owns 1,544,400 shares of the software maker’s stock worth $25,189,000 after acquiring an additional 1,265,600 shares during the period. 57.37% of the stock is currently owned by hedge funds and other institutional investors.

Box Company Profile

Box, Inc provides an enterprise content management platform that enables organizations of all sizes to manage enterprise content while allowing access and sharing of this content from anywhere, on any device. With the Company’s Software-as-a-Service (SaaS) cloud-based platform, users can collaborate on content both internally and with external parties, automate content-driven business processes, develop custom applications, and implement data protection, security and compliance features to comply with internal policies and industry regulations.

Analyst Recommendations for Box (NYSE:BOX)

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