The Box Inc (BOX) Rating Increased to Overweight at Mitsubishi UFJ Financial Group

The Box Inc (BOX) Rating Increased to Overweight at Mitsubishi UFJ Financial Group

Other analysts have also issued research reports about the company. Oppenheimer Holdings Inc. set a $21.00 price target on Box and gave the company a “buy” rating in a report on Saturday, March 25th. Drexel Hamilton restated a “buy” rating and set a $26.00 price target on shares of Box in a report on Friday, March 31st. Pacific Crest restated an “overweight” rating and set a $25.00 price target on shares of Box in a report on Wednesday, May 31st. Rosenblatt Securities restated a “buy” rating and set a $25.00 price target on shares of Box in a report on Saturday, March 4th. Finally, FIG Partners restated an “outperform” rating on shares of Box in a report on Thursday, March 2nd. Six research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $22.24.

Box Inc (NYSE:BOX) was upgraded by analysts at Mitsubishi UFJ Financial Group from a “neutral” rating to an “overweight” rating in a research note issued on Thursday. The firm currently has a $23.00 price objective on the software maker’s stock, up from their previous price objective of $17.50. Mitsubishi UFJ Financial Group’s price objective would suggest a potential upside of 15.17% from the company’s previous close.

Box (BOX) opened at 19.97 on Thursday. Box has a one year low of $9.86 and a one year high of $20.91. The stock has a 50 day moving average of $17.95 and a 200 day moving average of $16.64. The company’s market cap is $2.55 billion.

Box (NYSE:BOX) last released its quarterly earnings results on Wednesday, May 31st. The software maker reported ($0.13) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.14) by $0.01. Box had a negative return on equity of 144.98% and a negative net margin of 44.23%. The company had revenue of $117.20 million for the quarter, compared to analyst estimates of $114.70 million. During the same quarter in the prior year, the firm posted ($0.18) EPS. Box’s quarterly revenue was up 29.9% compared to the same quarter last year. On average, analysts anticipate that Box will post ($0.46) earnings per share for the current fiscal year. In other Box news, Director Rory O’driscoll sold 43,500 shares of the company’s stock in a transaction on Monday, March 27th. The stock was sold at an average price of $16.41, for a total value of $713,835.00. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO Daniel J. Levin sold 20,000 shares of the company’s stock in a transaction on Wednesday, April 5th. The shares were sold at an average price of $17.00, for a total value of $340,000.00. Following the completion of the transaction, the chief operating officer now directly owns 3,752 shares in the company, valued at approximately $63,784. The disclosure for this sale can be found here. Insiders sold a total of 771,186 shares of company stock worth $12,849,908 in the last ninety days. 22.30% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently made changes to their positions in BOX. Bayesian Capital Management LP acquired a new position in shares of Box during the fourth quarter valued at approximately $187,000. Marshall Wace LLP acquired a new position in shares of Box during the fourth quarter valued at approximately $14,820,000. Cortina Asset Management LLC acquired a new position in shares of Box during the fourth quarter valued at approximately $3,818,000. Honkamp Krueger Financial Services Inc. ADV acquired a new position in shares of Box during the fourth quarter valued at approximately $185,000. Finally, State Street Corp increased its position in shares of Box by 5.8% in the fourth quarter. State Street Corp now owns 825,560 shares of the software maker’s stock valued at $11,442,000 after buying an additional 45,024 shares during the period. 27.65% of the stock is currently owned by institutional investors. Box Company Profile

Box, Inc provides an enterprise content management platform that enables organizations of all sizes to manage enterprise content while allowing access and sharing of this content from anywhere, on any device. With the Company’s Software-as-a-Service (SaaS) cloud-based platform, users can collaborate on content both internally and with external parties, automate content-driven business processes, develop custom applications, and implement data protection, security and compliance features to comply with internal policies and industry regulations.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “BOX”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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