Brokerages Set Box, Inc. (NYSE:BOX) Target Price at $35.57

Box, Inc. (NYSE:BOX) has been assigned a consensus rating of “Hold” from the ten brokerages that are presently covering the firm, MarketBeat reports. One analyst has rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $35.5714.

A number of brokerages have weighed in on BOX. William Blair reiterated a “market perform” rating on shares of BOX in a research report on Monday, March 23rd. Wall Street Zen raised BOX from a “buy” rating to a “strong-buy” rating in a research note on Saturday, April 25th. UBS Group reduced their price objective on BOX from $31.00 to $28.00 and set a “hold” rating on the stock in a research note on Wednesday, March 4th. Citigroup reduced their price objective on 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 price objective on BOX from $38.00 to $33.00 and set an “equal weight” rating on the stock in a research note on Thursday, March 12th.

BOX Price Performance

Shares of NYSE:BOX opened at $25.75 on Friday. The business’s fifty day moving average price is $24.09 and its two-hundred day moving average price is $27.13. BOX has a fifty-two week low of $21.34 and a fifty-two week high of $38.80. The stock has a market capitalization of $3.56 billion, a price-to-earnings ratio of 43.64, a price-to-earnings-growth ratio of 1.24 and a beta of 0.71.

BOX (NYSE:BOX) last announced its quarterly earnings results on Tuesday, March 3rd. The software maker reported $0.49 earnings per share for the quarter, beating 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 firm had revenue of $305.88 million for the quarter, compared to analysts’ expectations of $305.64 million. During the same period in the prior year, the business posted $0.42 earnings per share. The business’s revenue was up 9.4% compared to the same quarter last year. Research analysts expect that BOX will post 0.34 EPS for the current fiscal year.

BOX declared that its Board of Directors has initiated a share buyback program on Thursday, March 19th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the software maker to repurchase up to 14.2% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s management believes its shares are undervalued.

Insider Activity at BOX

In other news, CFO Dylan C. Smith sold 17,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 10th. The shares were sold at an average price of $24.75, for a total transaction of $420,750.00. Following the transaction, the chief financial officer directly owned 1,311,195 shares in the company, valued at approximately $32,452,076.25. This represents a 1.28% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Eli Berkovitch sold 24,500 shares of the company’s stock in a transaction that occurred on Wednesday, April 8th. The stock was sold at an average price of $23.85, for a total transaction of $584,325.00. Following the transaction, the vice president owned 95,516 shares in the company, valued at $2,278,056.60. The trade was a 20.41% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 117,896 shares of company stock valued at $2,860,681 in the last three months. 3.90% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On BOX

A number of institutional investors and hedge funds have recently made changes to their positions in BOX. Woodline Partners LP raised its position in shares of BOX by 16.4% during the first quarter. Woodline Partners LP now owns 17,800 shares of the software maker’s stock worth $549,000 after acquiring an additional 2,506 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised 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 worth $14,746,000 after acquiring an additional 32,726 shares during the last quarter. Geneos Wealth Management Inc. bought a new stake in shares of BOX during the first quarter worth $31,000. Sivia Capital Partners LLC bought a new stake in shares of BOX during the second quarter worth $484,000. Finally, Invesco Ltd. raised its position in shares of BOX by 101.1% during the second quarter. Invesco Ltd. now owns 1,141,603 shares of the software maker’s stock worth $39,009,000 after acquiring an additional 573,817 shares during the last quarter. Institutional investors own 86.74% of the company’s stock.

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.