JPMorgan Chase & Co. Raises BOX (NYSE:BOX) Price Target to $32.00

BOX (NYSE:BOXFree Report) had its price target hoisted by JPMorgan Chase & Co. from $31.00 to $32.00 in a research note published on Wednesday, Benzinga reports. They currently have an overweight rating on the software maker’s stock.

A number of other research analysts have also recently weighed in on the stock. UBS Group began coverage on shares of BOX in a report on Friday, December 15th. They issued a buy rating and a $36.00 price objective for the company. StockNews.com cut shares of BOX from a strong-buy rating to a buy rating in a research note on Tuesday, February 27th. Morgan Stanley cut their target price on shares of BOX from $35.00 to $32.00 and set an overweight rating for the company in a research note on Wednesday, December 6th. KeyCorp cut their target price on shares of BOX from $33.00 to $30.00 and set an overweight rating for the company in a research note on Wednesday, December 6th. Finally, Raymond James cut their target price on shares of BOX from $33.00 to $30.00 and set an outperform rating for the company in a research note on Wednesday, December 6th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, BOX presently has an average rating of Moderate Buy and an average price target of $30.89.

Check Out Our Latest Report on BOX

BOX Stock Performance

BOX opened at $29.63 on Wednesday. BOX has a fifty-two week low of $23.29 and a fifty-two week high of $31.94. The company has a fifty day moving average of $26.21 and a two-hundred day moving average of $25.83. The stock has a market capitalization of $4.25 billion, a price-to-earnings ratio of 44.22, a PEG ratio of 7.19 and a beta of 0.83.

BOX (NYSE:BOXGet Free Report) last released its quarterly earnings data on Tuesday, December 5th. The software maker reported $0.02 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.02. BOX had a net margin of 12.43% and a negative return on equity of 9.02%. The company had revenue of $261.50 million during the quarter, compared to analysts’ expectations of $262.37 million. During the same quarter in the previous year, the company earned $0.04 earnings per share. The firm’s revenue for the quarter was up 4.6% on a year-over-year basis. On average, equities research analysts forecast that BOX will post 0.21 earnings per share for the current year.

Insider Buying and Selling

In related news, CFO Dylan C. Smith sold 13,000 shares of the business’s stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $27.47, for a total transaction of $357,110.00. Following the transaction, the chief financial officer now directly owns 1,408,702 shares in the company, valued at $38,697,043.94. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, VP Eli Berkovitch sold 7,750 shares of the business’s stock in a transaction that occurred on Tuesday, January 9th. The shares were sold at an average price of $24.94, for a total value of $193,285.00. Following the sale, the vice president now directly owns 136,733 shares of the company’s stock, valued at approximately $3,410,121.02. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Dylan C. Smith sold 13,000 shares of the business’s stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $27.47, for a total transaction of $357,110.00. Following the completion of the sale, the chief financial officer now directly owns 1,408,702 shares in the company, valued at $38,697,043.94. The disclosure for this sale can be found here. Over the last three months, insiders have sold 56,750 shares of company stock worth $1,427,645. 4.90% of the stock is owned by insiders.

Institutional Investors Weigh In On BOX

Large investors have recently added to or reduced their stakes in the business. Fairfield Bush & CO. acquired a new position in shares of BOX in the 1st quarter valued at $29,000. Pinebridge Investments L.P. acquired a new stake in shares of BOX in the second quarter valued at about $36,000. Quarry LP lifted its stake in shares of BOX by 318.2% in the first quarter. Quarry LP now owns 1,330 shares of the software maker’s stock valued at $36,000 after purchasing an additional 1,012 shares during the period. DekaBank Deutsche Girozentrale acquired a new position in BOX during the third quarter worth about $38,000. Finally, TFO Wealth Partners LLC raised its position in BOX by 62,000.0% during the fourth quarter. TFO Wealth Partners LLC now owns 1,863 shares of the software maker’s stock worth $48,000 after acquiring an additional 1,860 shares during the last quarter. 87.90% of the stock is owned by hedge funds and other institutional investors.

About BOX

(Get Free Report)

Box, Inc provides a cloud content management platform that enables organizations of various sizes to manage and share their content from anywhere on 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 to comply with legal and regulatory requirements, internal policies, and industry standards and regulations.

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Analyst Recommendations for BOX (NYSE:BOX)

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