Zacks Investment Research downgraded shares of BOX (NYSE:BOX) from a hold rating to a sell rating in a research report released on Tuesday.
According to Zacks, “Box’s top line has been gaining traction driven by strength across international markets, growing add-on products and positive contribution from its strategic partnership with Microsoft. The company is currently working on enriching its cloud content management and AI platforms. It made some notable partnership extensions in this regard in fiscal third-quarter 2018 with Apple and Microsoft. Box has a rich technology partner ecosystem and it rides on strong free cash flow, billings and retention rate. On the negative side, the company has been incurring losses since its inception and does not expect profits in the foreseeable future. In past 12 months, the stock has underperformed the industry it belongs to.”
Several other equities research analysts also recently commented on BOX. JMP Securities upped their target price on shares of BOX to $25.00 and gave the company an outperform rating in a research note on Thursday, November 30th. Drexel Hamilton reaffirmed a buy rating and issued a $28.00 target price on shares of BOX in a research note on Monday, November 27th. Oppenheimer reaffirmed a buy rating and issued a $22.00 target price on shares of BOX in a research note on Monday, October 16th. Canaccord Genuity reaffirmed a buy rating and issued a $25.00 target price on shares of BOX in a research note on Thursday, November 30th. Finally, Vetr raised shares of BOX from a buy rating to a strong-buy rating and set a $25.42 target price for the company in a research note on Wednesday, November 29th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. BOX currently has a consensus rating of Buy and an average price target of $24.24.
BOX (BOX) opened at $20.37 on Tuesday. BOX has a twelve month low of $15.73 and a twelve month high of $24.10. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 2.53.
BOX (NYSE:BOX) last issued its earnings results on Wednesday, November 29th. The software maker reported ($0.13) EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.13). BOX had a negative net margin of 33.20% and a negative return on equity of 313.90%. The firm had revenue of $129.30 million during the quarter, compared to the consensus estimate of $128.67 million. During the same quarter in the prior year, the firm earned ($0.14) earnings per share. The business’s quarterly revenue was up 25.8% on a year-over-year basis. analysts expect that BOX will post -1.17 EPS for the current year.
In other news, Director Daniel J. Levin sold 30,000 shares of the stock in a transaction on Friday, December 15th. The shares were sold at an average price of $21.05, for a total transaction of $631,500.00. Following the completion of the sale, the director now owns 5,790 shares of the company’s stock, valued at $121,879.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Dana L. Evan sold 7,500 shares of the stock in a transaction on Wednesday, January 3rd. The stock was sold at an average price of $21.65, for a total transaction of $162,375.00. Following the sale, the director now directly owns 21,399 shares of the company’s stock, valued at approximately $463,288.35. The disclosure for this sale can be found here. Insiders have sold 2,065,309 shares of company stock valued at $43,227,222 in the last three months. 20.59% of the stock is owned by insiders.
Several hedge funds have recently modified their holdings of the company. Renaissance Technologies LLC increased its position in shares of BOX by 16.5% during the fourth quarter. Renaissance Technologies LLC now owns 3,203,600 shares of the software maker’s stock worth $67,660,000 after acquiring an additional 454,700 shares in the last quarter. Ranger Investment Management L.P. bought a new stake in shares of BOX during the fourth quarter worth $8,976,000. Amundi Pioneer Asset Management Inc. bought a new stake in shares of BOX during the fourth quarter worth $689,000. Bluestein R H & Co. increased its position in shares of BOX by 25.0% during the fourth quarter. Bluestein R H & Co. now owns 12,500 shares of the software maker’s stock worth $264,000 after acquiring an additional 2,500 shares in the last quarter. Finally, Geode Capital Management LLC increased its position in shares of BOX by 39.6% during the fourth quarter. Geode Capital Management LLC now owns 1,153,851 shares of the software maker’s stock worth $24,368,000 after acquiring an additional 327,343 shares in the last quarter. 62.02% of the stock is owned by institutional investors.
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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.
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