UBS Group Cuts BOX (NYSE:BOX) Price Target to $28.00

BOX (NYSE:BOX) had its price objective lowered by UBS Group from $31.00 to $28.00 in a research note published on Wednesday morning, Marketbeat reports. The brokerage currently has a hold rating on the software maker’s stock.

Several other equities research analysts also recently weighed in on the stock. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of BOX in a report on Monday, December 29th. DA Davidson reissued a “buy” rating and set a $45.00 target price on shares of BOX in a research note on Wednesday, December 3rd. Five investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $36.29.

BOX Price Performance

BOX opened at $25.69 on Wednesday. The stock’s 50 day moving average price is $25.85 and its 200 day moving average price is $29.66. The stock has a market cap of $3.68 billion, a P/E ratio of 43.54, a P/E/G ratio of 1.36 and a beta of 0.80. BOX has a 12 month low of $21.61 and a 12 month high of $38.80.

BOX (NYSE:BOX) last announced its quarterly earnings results on Tuesday, March 3rd. The software maker reported $0.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.33 by $0.16. BOX had a negative return on equity of 23.61% and a net margin of 9.80%.The company had revenue of $305.88 million during the quarter, compared to analyst estimates of $305.64 million. During the same quarter in the previous year, the firm posted $0.42 EPS. The firm’s quarterly revenue was up 9.4% on a year-over-year basis. Equities analysts anticipate that BOX will post 0.27 EPS for the current year.

Insider Transactions at BOX

In other news, COO Olivia Nottebohm sold 4,612 shares of the business’s stock in a transaction on Wednesday, January 21st. The stock was sold at an average price of $26.04, for a total value of $120,096.48. Following the sale, the chief operating officer owned 469,831 shares of the company’s stock, valued at approximately $12,234,399.24. The trade was a 0.97% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Dylan C. Smith sold 17,000 shares of the company’s stock in a transaction on Tuesday, February 10th. The shares were sold at an average price of $24.75, for a total value of $420,750.00. Following the completion of the sale, the chief financial officer owned 1,311,195 shares of the company’s stock, valued at approximately $32,452,076.25. This trade represents a 1.28% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 80,387 shares of company stock valued at $2,320,282 in the last quarter. Company insiders own 3.90% of the company’s stock.

Institutional Investors Weigh In On BOX

Institutional investors and hedge funds have recently bought and sold shares of the business. CWM LLC boosted its position in shares of BOX by 25.6% during the 3rd quarter. CWM LLC now owns 1,503 shares of the software maker’s stock valued at $49,000 after purchasing an additional 306 shares in the last quarter. Portside Wealth Group LLC raised its holdings in shares of BOX by 3.6% in the 2nd quarter. Portside Wealth Group LLC now owns 10,380 shares of the software maker’s stock worth $355,000 after purchasing an additional 361 shares in the last quarter. Linden Thomas Advisory Services LLC lifted its stake in BOX by 1.4% during the fourth quarter. Linden Thomas Advisory Services LLC now owns 27,285 shares of the software maker’s stock valued at $816,000 after purchasing an additional 387 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in BOX by 8.6% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 5,093 shares of the software maker’s stock valued at $147,000 after purchasing an additional 405 shares during the last quarter. Finally, Aviva PLC boosted its holdings in BOX by 3.4% during the second quarter. Aviva PLC now owns 13,488 shares of the software maker’s stock worth $461,000 after buying an additional 442 shares in the last quarter. 86.74% of the stock is owned by institutional investors and hedge funds.

BOX Company Profile

Box, Inc is a leading provider of cloud content management and file sharing solutions designed to support enterprises in securely managing, accessing and collaborating on digital content from anywhere. The company offers a unified platform that enables organizations to store, share and automate workflows across various departments, enhancing productivity and ensuring governance over sensitive information. Box’s services are tailored to meet the needs of industries such as healthcare, financial services, government and media, where compliance and data security are paramount.

The core offerings of Box include its Content Cloud platform, which provides content collaboration, workflow automation, data classification and secure file sharing.