BOX’s (BOX) Market Perform Rating Reiterated at William Blair

William Blair restated their market perform rating on shares of BOX (NYSE:BOX) in a research report report published on Monday morning, Marketbeat Ratings reports.

A number of other equities research analysts have also recently commented on the company. DA Davidson reiterated a “buy” rating and set a $45.00 target price on shares of BOX in a research note on Friday, March 20th. UBS Group reduced their price target on shares of BOX from $31.00 to $28.00 and set a “hold” rating for the company in a research report on Wednesday, March 4th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of BOX in a research report on Monday, December 29th. Citigroup dropped their target price on shares of BOX from $40.00 to $36.00 and set a “buy” rating on the stock in a research note on Wednesday, March 4th. Finally, Morgan Stanley reduced their target price on shares of BOX from $38.00 to $33.00 and set an “equal weight” rating for the company in a research report on Thursday, March 12th. Four research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, BOX has an average rating of “Hold” and a consensus target price of $35.57.

BOX Stock Up 0.2%

BOX stock opened at $23.66 on Monday. The firm has a market cap of $3.28 billion, a PE ratio of 40.09, a P/E/G ratio of 1.21 and a beta of 0.80. The business has a 50 day moving average of $24.58 and a 200-day moving average of $28.95. BOX has a 12-month low of $21.61 and a 12-month high of $38.80.

BOX (NYSE:BOX) last issued its quarterly earnings results on Tuesday, March 3rd. The software maker reported $0.49 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 business had revenue of $305.88 million for the quarter, compared to analyst estimates of $305.64 million. During the same period last year, the company posted $0.42 earnings per share. BOX’s quarterly revenue was up 9.4% compared to the same quarter last year. On average, research analysts expect that BOX will post 0.27 earnings per share for the current year.

BOX declared that its board has authorized a stock repurchase program on Thursday, March 19th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the software maker to buy up to 14.2% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s leadership believes its shares are undervalued.

Insider Activity at BOX

In related news, CFO Dylan C. Smith sold 17,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 10th. The shares were sold at an average price of $24.72, for a total value of $420,240.00. Following the completion of the transaction, the chief financial officer directly owned 1,294,195 shares of the company’s stock, valued at approximately $31,992,500.40. This trade represents a 1.30% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Olivia Nottebohm sold 4,612 shares of BOX stock in a transaction that occurred on Friday, March 6th. The shares were sold at an average price of $25.78, for a total transaction of $118,897.36. Following the completion of the transaction, the chief operating officer owned 465,219 shares of the company’s stock, valued at $11,993,345.82. This represents a 0.98% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 79,836 shares of company stock worth $2,091,096. 3.90% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On BOX

Several hedge funds have recently made changes to their positions in the stock. Woodline Partners LP lifted its holdings in BOX by 16.4% during the 1st quarter. Woodline Partners LP now owns 17,800 shares of the software maker’s stock worth $549,000 after purchasing an additional 2,506 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of BOX by 7.4% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 477,822 shares of the software maker’s stock valued at $14,746,000 after buying an additional 32,726 shares during the period. Geneos Wealth Management Inc. bought a new stake in shares of BOX during the first quarter valued at about $31,000. Sivia Capital Partners LLC purchased a new stake in shares of BOX in the second quarter worth about $484,000. Finally, Creative Planning lifted its holdings in shares of BOX by 84.3% in the second quarter. Creative Planning now owns 39,251 shares of the software maker’s stock worth $1,341,000 after buying an additional 17,950 shares in the last quarter. 86.74% of the stock is currently owned by hedge funds and other institutional investors.

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.