BOX’s (BOX) “Underperform” Rating Reaffirmed at Royal Bank of Canada

BOX (NYSE:BOX)‘s stock had its “underperform” rating reaffirmed by equities researchers at Royal Bank of Canada in a research report issued to clients and investors on Wednesday, Benzinga reports. They presently have a $21.00 target price on the software maker’s stock. Royal Bank of Canada’s target price indicates a potential downside of 36.26% from the company’s previous close.

Several other research firms have also issued reports on BOX. Monness Crespi & Hardt upgraded BOX to a “hold” rating in a research note on Friday, August 16th. UBS Group cut their price objective on shares of BOX from $34.00 to $31.00 and set a “buy” rating on the stock in a research report on Wednesday, May 29th. Morgan Stanley lowered their target price on shares of BOX from $32.00 to $30.00 and set an “equal weight” rating for the company in a research note on Wednesday, May 29th. Oppenheimer reaffirmed an “outperform” rating and issued a $35.00 price target on shares of BOX in a report on Wednesday, May 29th. Finally, StockNews.com upgraded BOX from a “buy” rating to a “strong-buy” rating in a report on Thursday, August 15th. One research analyst has rated the stock with a sell rating, three have given a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $30.89.

BOX Stock Performance

NYSE BOX opened at $32.95 on Wednesday. The company has a market cap of $4.76 billion, a PE ratio of 45.13 and a beta of 0.86. The firm’s 50 day moving average price is $27.20 and its 200-day moving average price is $27.08. BOX has a 52-week low of $23.29 and a 52-week high of $32.99.

BOX (NYSE:BOX) last announced its earnings results on Tuesday, August 27th. The software maker reported $0.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.40 by $0.04. BOX had a negative return on equity of 11.71% and a net margin of 13.13%. The business had revenue of $270.04 million for the quarter, compared to analysts’ expectations of $269.52 million. During the same quarter last year, the firm earned $0.01 EPS. The business’s revenue for the quarter was up 3.3% on a year-over-year basis. On average, analysts forecast that BOX will post 0.19 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CFO Dylan C. Smith sold 13,000 shares of the firm’s stock in a transaction dated Wednesday, July 10th. The stock was sold at an average price of $24.97, for a total value of $324,610.00. Following the completion of the transaction, the chief financial officer now directly owns 1,526,661 shares in the company, valued at $38,120,725.17. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other BOX news, VP Eli Berkovitch sold 2,500 shares of BOX stock in a transaction dated Tuesday, July 9th. The stock was sold at an average price of $25.25, for a total transaction of $63,125.00. Following the completion of the transaction, the vice president now owns 147,232 shares in the company, valued at approximately $3,717,608. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Dylan C. Smith sold 13,000 shares of the company’s stock in a transaction dated Wednesday, July 10th. The stock was sold at an average price of $24.97, for a total value of $324,610.00. Following the completion of the sale, the chief financial officer now owns 1,526,661 shares in the company, valued at approximately $38,120,725.17. The disclosure for this sale can be found here. Insiders sold 59,560 shares of company stock worth $1,556,440 in the last 90 days. Insiders own 4.10% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of BOX. Vanguard Group Inc. grew its position in shares of BOX by 14.9% during the 1st quarter. Vanguard Group Inc. now owns 17,313,882 shares of the software maker’s stock valued at $490,329,000 after acquiring an additional 2,249,082 shares during the period. UBS Group AG increased its position in shares of BOX by 404.3% in the fourth quarter. UBS Group AG now owns 1,001,086 shares of the software maker’s stock valued at $25,638,000 after buying an additional 802,564 shares in the last quarter. Principal Financial Group Inc. raised its stake in shares of BOX by 4,889.2% during the 1st quarter. Principal Financial Group Inc. now owns 813,234 shares of the software maker’s stock worth $23,031,000 after buying an additional 796,934 shares during the period. Sivia Capital Partners LLC purchased a new position in shares of BOX during the 4th quarter valued at approximately $19,606,000. Finally, Earnest Partners LLC lifted its position in shares of BOX by 10.5% during the 1st quarter. Earnest Partners LLC now owns 7,340,474 shares of the software maker’s stock valued at $207,882,000 after buying an additional 699,882 shares in the last quarter. 86.74% of the stock is owned by institutional investors and hedge funds.

About BOX

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 work with their content as they need from secure external collaboration and sharing, workspaces and portals, e-signature processes, and content workflows improving employee productivity and accelerating business processes.