BOX (NYSE:BOX) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of BOX (NYSE:BOX) from a hold rating to a strong-buy rating in a research report released on Saturday morning.

Several other brokerages also recently weighed in on BOX. Weiss Ratings reissued a “hold (c+)” rating on shares of BOX in a research note on Monday, December 29th. DA Davidson reiterated a “buy” rating and set a $45.00 price target on shares of BOX in a report on Wednesday, December 3rd. Morgan Stanley reduced their price objective on shares of BOX from $38.00 to $33.00 and set an “equal weight” rating on the stock in a research report on Thursday, March 12th. Citigroup decreased their price objective on shares of BOX from $40.00 to $36.00 and set a “buy” rating for the company in a research note on Wednesday, March 4th. Finally, UBS Group dropped their target price on BOX from $31.00 to $28.00 and set a “hold” rating for the company in a research report on Wednesday, March 4th. Four research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $35.57.

BOX Stock Performance

NYSE BOX opened at $24.35 on Friday. The company has a market cap of $3.49 billion, a P/E ratio of 41.26, a P/E/G ratio of 1.22 and a beta of 0.80. The business’s 50 day moving average price is $25.26 and its 200-day moving average price is $29.34. BOX has a fifty-two week low of $21.61 and a fifty-two week high of $38.80.

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

Insider Activity

In related news, CFO Dylan C. Smith sold 17,000 shares of BOX stock in a transaction dated Tuesday, March 10th. The shares were sold at an average price of $24.72, for a total transaction of $420,240.00. Following the completion of the sale, the chief financial officer owned 1,294,195 shares in the company, valued at $31,992,500.40. This trade represents a 1.30% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Aaron Levie sold 15,000 shares of BOX stock in a transaction dated Tuesday, March 10th. The shares were sold at an average price of $24.72, for a total transaction of $370,800.00. Following the sale, the chief executive officer owned 2,907,030 shares of the company’s stock, valued at $71,861,781.60. The trade was a 0.51% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 79,836 shares of company stock valued at $2,091,096. 3.90% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On BOX

Institutional investors have recently modified their holdings of the stock. Northwestern Mutual Wealth Management Co. raised its stake in shares of BOX by 823,134.5% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 3,054,200 shares of the software maker’s stock valued at $91,351,000 after acquiring an additional 3,053,829 shares in the last quarter. Norges Bank bought a new position in BOX in the fourth quarter worth approximately $58,814,000. Qube Research & Technologies Ltd increased its holdings in BOX by 240.6% during the 2nd quarter. Qube Research & Technologies Ltd now owns 1,210,237 shares of the software maker’s stock worth $41,354,000 after purchasing an additional 854,953 shares during the period. Cubist Systematic Strategies LLC purchased a new position in BOX during the 2nd quarter worth $22,626,000. Finally, Mizuho Markets Americas LLC bought a new stake in BOX during the 3rd quarter valued at $20,851,000. 86.74% of the stock is owned by hedge funds and other institutional investors.

About BOX

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.