BOX (NYSE:BOX) Rating Increased to Buy at ValuEngine

ValuEngine upgraded shares of BOX (NYSE:BOX) from a hold rating to a buy rating in a research note published on Thursday, ValuEngine reports.

A number of other analysts have also recently weighed in on the stock. DA Davidson decreased their target price on shares of BOX from $19.00 to $17.00 and set a buy rating on the stock in a research note on Thursday, August 29th. Wells Fargo & Co set a $20.00 target price on shares of BOX and gave the stock a buy rating in a research note on Wednesday, September 4th. Craig Hallum cut shares of BOX from a buy rating to a hold rating and decreased their target price for the stock from $22.00 to $15.00 in a research note on Thursday, August 29th. Zacks Investment Research raised shares of BOX from a hold rating to a buy rating and set a $18.00 target price on the stock in a research note on Thursday, June 6th. Finally, JPMorgan Chase & Co. cut shares of BOX from a neutral rating to an underweight rating and set a $15.00 target price on the stock. in a research note on Friday, September 27th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and eleven have issued a buy rating to the stock. BOX currently has a consensus rating of Buy and an average target price of $19.38.

NYSE:BOX traded up $0.14 during mid-day trading on Thursday, reaching $17.09. The stock had a trading volume of 1,133,883 shares, compared to its average volume of 2,307,587. The stock has a 50-day simple moving average of $15.76 and a two-hundred day simple moving average of $17.70. The stock has a market capitalization of $2.50 billion, a PE ratio of -17.80 and a beta of 1.41. BOX has a 12 month low of $12.46 and a 12 month high of $24.93. The company has a debt-to-equity ratio of 14.57, a current ratio of 0.80 and a quick ratio of 0.80.

BOX (NYSE:BOX) last posted its earnings results on Wednesday, August 28th. The software maker reported ($0.25) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.26) by $0.01. The firm had revenue of $172.50 million for the quarter, compared to analysts’ expectations of $169.49 million. BOX had a negative net margin of 20.29% and a negative return on equity of 491.54%. The company’s revenue was up 16.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.05) earnings per share. Equities analysts expect that BOX will post -0.99 EPS for the current year.

Several institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. grew its stake in shares of BOX by 3.6% in the second quarter. Vanguard Group Inc. now owns 16,719,769 shares of the software maker’s stock worth $294,435,000 after purchasing an additional 587,807 shares during the last quarter. BlackRock Inc. grew its stake in shares of BOX by 10.9% in the second quarter. BlackRock Inc. now owns 11,071,591 shares of the software maker’s stock worth $194,971,000 after purchasing an additional 1,089,282 shares during the last quarter. First Trust Advisors LP grew its stake in shares of BOX by 29.5% in the second quarter. First Trust Advisors LP now owns 6,512,107 shares of the software maker’s stock worth $114,678,000 after purchasing an additional 1,484,080 shares during the last quarter. FMR LLC grew its stake in shares of BOX by 111.9% in the first quarter. FMR LLC now owns 3,906,437 shares of the software maker’s stock worth $75,434,000 after purchasing an additional 2,063,120 shares during the last quarter. Finally, Bank of America Corp DE grew its stake in shares of BOX by 179.0% in the second quarter. Bank of America Corp DE now owns 3,309,410 shares of the software maker’s stock worth $58,279,000 after purchasing an additional 2,123,157 shares during the last quarter. 71.43% of the stock is currently owned by institutional investors.

About BOX

Box, Inc provides a cloud content management platform that enables organizations of various sizes to manage and share their content from anywhere or any device. The company's Software-as-a-Service platform enables users to collaborate on content internally and with external parties, automate content-driven business processes, develop custom applications, and implement data protection, security, and compliance features.

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Analyst Recommendations for BOX (NYSE:BOX)

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