BOX (NYSE:BOX) Price Target Increased to $33.00 by Analysts at Morgan Stanley

BOX (NYSE:BOX) had its target price increased by Morgan Stanley from $30.00 to $33.00 in a research report report published on Thursday morning, Benzinga reports. The firm currently has an equal weight rating on the software maker’s stock.

Several other research analysts also recently weighed in on the stock. UBS Group increased their price target on shares of BOX from $31.00 to $34.00 and gave the stock a buy rating in a research report on Wednesday, August 28th. StockNews.com raised shares of BOX from a buy rating to a strong-buy rating in a research note on Thursday, August 15th. Monness Crespi & Hardt raised shares of BOX to a hold rating in a research note on Friday, August 16th. Citigroup increased their price objective on shares of BOX from $32.00 to $34.00 and gave the stock a buy rating in a research note on Wednesday, August 28th. Finally, Oppenheimer reissued an outperform rating and issued a $35.00 price objective on shares of BOX in a research note on Wednesday, May 29th. One analyst has rated the stock with a sell rating, two have given a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, BOX presently has a consensus rating of Moderate Buy and an average price target of $31.22.

BOX Stock Down 0.4 %

Shares of BOX stock opened at $32.74 on Thursday. The company has a market cap of $4.73 billion, a price-to-earnings ratio of 44.85 and a beta of 0.86. The company’s 50 day moving average is $27.88 and its 200 day moving average is $27.29. BOX has a twelve month low of $23.29 and a twelve month high of $33.45.

BOX (NYSE:BOX) last issued its quarterly earnings data on Tuesday, August 27th. The software maker reported $0.44 earnings per share for the quarter, beating analysts’ consensus estimates of $0.40 by $0.04. The company had revenue of $270.04 million for the quarter, compared to the consensus estimate of $269.52 million. BOX had a net margin of 13.94% and a negative return on equity of 14.41%. The firm’s revenue for the quarter was up 3.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.01 earnings per share. Sell-side analysts expect that BOX will post 0.2 EPS for the current fiscal year.

Insider Activity at BOX

In related news, Director Jack R. Lazar sold 7,000 shares of the firm’s stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $32.68, for a total transaction of $228,760.00. Following the completion of the transaction, the director now directly owns 29,197 shares of the company’s stock, valued at $954,157.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other BOX news, Director Jack R. Lazar sold 7,000 shares of the stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $32.68, for a total transaction of $228,760.00. Following the completion of the transaction, the director now owns 29,197 shares in the company, valued at $954,157.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Aaron Levie sold 10,000 shares of the stock in a transaction on Tuesday, July 2nd. The shares were sold at an average price of $26.26, for a total transaction of $262,600.00. Following the transaction, the chief executive officer now owns 3,019,155 shares of the company’s stock, valued at approximately $79,283,010.30. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 66,560 shares of company stock valued at $1,785,200. Corporate insiders own 4.10% of the company’s stock.

Hedge Funds Weigh In On BOX

Institutional investors have recently bought and sold shares of the business. Sanctuary Advisors LLC bought a new stake in shares of BOX in the 2nd quarter worth about $762,000. Teachers Retirement System of The State of Kentucky lifted its holdings in shares of BOX by 25.8% in the 2nd quarter. Teachers Retirement System of The State of Kentucky now owns 48,700 shares of the software maker’s stock worth $1,288,000 after acquiring an additional 10,000 shares during the last quarter. Quarry LP lifted its holdings in shares of BOX by 324.6% in the 2nd quarter. Quarry LP now owns 1,418 shares of the software maker’s stock worth $37,000 after acquiring an additional 1,084 shares during the last quarter. Creative Planning lifted its holdings in shares of BOX by 6.0% in the 2nd quarter. Creative Planning now owns 15,112 shares of the software maker’s stock worth $400,000 after acquiring an additional 860 shares during the last quarter. Finally, Algert Global LLC lifted its holdings in shares of BOX by 56.1% in the 2nd quarter. Algert Global LLC now owns 77,850 shares of the software maker’s stock worth $2,058,000 after acquiring an additional 27,973 shares during the last quarter. Institutional investors own 86.74% of the company’s stock.

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.