BOX (NYSE:BOX) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors on Tuesday.
According to Zacks, “Box’s top line has been gaining traction driven by strength across international markets, growing add-on products and positive contribution from its strategic partnership with Microsoft. The company is currently working on enriching its cloud content management and AI platforms. It made some notable partnership extensions in this regard in fiscal third-quarter 2018 with Apple and Microsoft. Box has a rich technology partner ecosystem and it rides on strong free cash flow, billings and retention rate. On the negative side, the company has been incurring losses since its inception and does not expect profits in the foreseeable future. In past 12 months, the stock has underperformed the industry it belongs to.”
Other analysts have also issued reports about the company. Vetr raised BOX from a “buy” rating to a “strong-buy” rating and set a $25.42 price objective on the stock in a research note on Wednesday, November 29th. Oppenheimer reiterated a “buy” rating and issued a $24.00 target price on shares of BOX in a research report on Thursday, November 30th. Canaccord Genuity reiterated a “buy” rating and issued a $25.00 target price on shares of BOX in a research report on Thursday, November 30th. JMP Securities increased their target price on BOX to $25.00 and gave the company an “outperform” rating in a research report on Thursday, November 30th. Finally, Drexel Hamilton reiterated a “buy” rating and issued a $28.00 target price on shares of BOX in a research report on Monday, November 27th. One research analyst has rated the stock with a sell rating, three have given a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $24.24.
Shares of BOX (NYSE:BOX) opened at $21.20 on Tuesday. The firm has a market capitalization of $2,890.00, a PE ratio of -17.67 and a beta of 1.20. The company has a debt-to-equity ratio of 2.53, a current ratio of 1.00 and a quick ratio of 1.00. BOX has a 12 month low of $15.73 and a 12 month high of $24.10.
BOX (NYSE:BOX) last released its quarterly earnings data on Wednesday, November 29th. The software maker reported ($0.13) earnings per share for the quarter, meeting the consensus estimate of ($0.13). The business had revenue of $129.30 million for the quarter, compared to analyst estimates of $128.67 million. BOX had a negative return on equity of 313.90% and a negative net margin of 33.20%. BOX’s revenue was up 25.8% compared to the same quarter last year. During the same period last year, the firm posted ($0.14) earnings per share. equities analysts predict that BOX will post -1.17 EPS for the current fiscal year.
In other news, Director Rory O’driscoll sold 600,000 shares of the firm’s stock in a transaction dated Tuesday, December 5th. The stock was sold at an average price of $20.50, for a total transaction of $12,300,000.00. 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 13,000 shares of the firm’s stock in a transaction dated Monday, December 11th. The stock was sold at an average price of $20.84, for a total value of $270,920.00. Following the transaction, the chief financial officer now owns 13,000 shares of the company’s stock, valued at $270,920. The disclosure for this sale can be found here. Insiders have sold 2,065,309 shares of company stock valued at $43,227,222 over the last 90 days. 20.59% of the stock is owned by corporate insiders.
Several institutional investors and hedge funds have recently modified their holdings of the company. Whale Rock Capital Management LLC bought a new position in shares of BOX during the fourth quarter worth about $16,863,000. Millennium Management LLC raised its position in shares of BOX by 16.7% during the fourth quarter. Millennium Management LLC now owns 4,314,184 shares of the software maker’s stock worth $91,116,000 after acquiring an additional 616,044 shares during the last quarter. TIAA CREF Investment Management LLC raised its position in shares of BOX by 0.9% during the fourth quarter. TIAA CREF Investment Management LLC now owns 601,728 shares of the software maker’s stock worth $12,708,000 after acquiring an additional 5,579 shares during the last quarter. Teachers Advisors LLC raised its position in shares of BOX by 1.0% during the fourth quarter. Teachers Advisors LLC now owns 325,145 shares of the software maker’s stock worth $6,867,000 after acquiring an additional 3,147 shares during the last quarter. Finally, Ardsley Advisory Partners raised its position in shares of BOX by 2,541.7% during the fourth quarter. Ardsley Advisory Partners now owns 317,000 shares of the software maker’s stock worth $6,695,000 after acquiring an additional 305,000 shares during the last quarter. Institutional investors own 62.02% of the company’s stock.
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.
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