BOX (NYSE:BOX) Price Target Raised to $60.00

BOX (NYSE:BOX) had its price objective boosted by DA Davidson from $50.00 to $60.00 in a research note published on Monday morning,Benzinga reports. They currently have a buy rating on the software maker’s stock.

Several other equities analysts also recently weighed in on BOX. Morgan Stanley increased their target price on BOX from $33.00 to $36.00 and gave the stock an “equal weight” rating in a research report on Wednesday, August 26th. Bank of America restated a “buy” rating on shares of BOX in a report on Wednesday, August 26th. Weiss Ratings upgraded BOX from a “hold (c)” rating to a “hold (c+)” rating in a report on Tuesday, October 6th. Royal Bank Of Canada reaffirmed an “underperform” rating and set a $26.00 price objective on shares of BOX in a research note on Wednesday, August 26th. Finally, Citigroup increased their price objective on shares of BOX from $37.00 to $40.00 and gave the stock a “buy” rating in a report on Wednesday, August 26th. Four analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $39.80.

BOX Stock Performance

Shares of NYSE BOX opened at $43.50 on Monday. The firm has a market cap of $5.97 billion, a P/E ratio of 63.04, a price-to-earnings-growth ratio of 11.19 and a beta of 0.65. BOX has a 1 year low of $21.34 and a 1 year high of $44.88. The firm’s 50 day moving average price is $37.67 and its 200 day moving average price is $29.41.

BOX (NYSE:BOX) last issued its quarterly earnings results on Tuesday, August 25th. The software maker reported $0.40 earnings per share for the quarter, meeting the consensus estimate of $0.40. The company had revenue of $321.15 million during the quarter, compared to the consensus estimate of $319.33 million. BOX had a negative return on equity of 20.97% and a net margin of 10.59%. BOX’s revenue was up 9.2% on a year-over-year basis. During the same period in the previous year, the firm posted $0.33 EPS. BOX has set its Q3 2027 guidance at 0.390-0.390 EPS and its FY 2027 guidance at 1.540-1.540 EPS. As a group, equities analysts predict that BOX will post 0.32 EPS for the current year.

Insider Buying and Selling at BOX

In related news, CFO Dylan C. Smith sold 17,000 shares of the stock in a transaction on Friday, October 9th. The stock was sold at an average price of $36.56, for a total value of $621,520.00. Following the transaction, the chief financial officer directly owned 1,293,100 shares of the company’s stock, valued at approximately $47,275,736. This trade represents a 1.30% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Dana Evan sold 6,158 shares of the stock in a transaction on Tuesday, September 15th. The stock was sold at an average price of $35.00, for a total value of $215,530.00. Following the completion of the transaction, the director directly owned 115,739 shares in the company, valued at $4,050,865. This trade represents a 5.05% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 69,594 shares of company stock worth $2,478,743. 3.99% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On BOX

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Fortitude Family Office LLC lifted its stake in shares of BOX by 408.2% in the 3rd quarter. Fortitude Family Office LLC now owns 747 shares of the software maker’s stock valued at $25,000 after purchasing an additional 600 shares in the last quarter. Danske Bank A S acquired a new stake in BOX during the 3rd quarter worth approximately $37,000. Integrated Wealth Concepts LLC acquired a new stake in BOX during the 2nd quarter worth approximately $56,000. Farther Finance Advisors LLC increased its position in BOX by 34.8% during the 3rd quarter. Farther Finance Advisors LLC now owns 2,195 shares of the software maker’s stock worth $73,000 after purchasing an additional 567 shares in the last quarter. Finally, Allworth Financial LP raised its holdings in BOX by 53.3% in the third quarter. Allworth Financial LP now owns 2,634 shares of the software maker’s stock valued at $88,000 after buying an additional 916 shares during the period. 86.74% of the stock is currently owned by institutional investors and hedge funds.

About BOX

Box, Inc. provides a cloud-based content management platform that helps organizations store, manage, share, and collaborate on files. Its services support document workflows across desktop and mobile devices. The Box platform includes tools for content collaboration, workflow automation, security, and governance. It also integrates with business applications and offers AI features designed to help customers work with their stored content. Founded in 2005 by Aaron Levie and Dylan Smith, Box serves businesses and other organizations across multiple regions.