BOX’s (BOX) “Buy” Rating Reaffirmed at DA Davidson

DA Davidson reiterated their buy rating on shares of BOX (NYSE:BOX) in a research note published on Wednesday,Benzinga reports. The firm currently has a $45.00 target price on the software maker’s stock. DA Davidson also issued estimates for BOX’s FY2027 earnings at ($0.33) EPS.

Several other analysts have also recently issued reports on the company. JPMorgan Chase & Co. cut their price objective on BOX from $38.00 to $37.00 and set an “overweight” rating on the stock in a research note on Wednesday, March 5th. Morgan Stanley increased their price target on BOX from $33.00 to $36.00 and gave the stock an “equal weight” rating in a research report on Wednesday, December 4th. Royal Bank of Canada reiterated an “underperform” rating and set a $21.00 price target on shares of BOX in a research report on Wednesday. StockNews.com cut BOX from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, January 8th. Finally, Raymond James reiterated an “outperform” rating and set a $38.00 price target (down from $40.00) on shares of BOX in a research report on Wednesday, March 5th. One analyst has rated the stock with a sell rating, two have given a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, BOX presently has a consensus rating of “Moderate Buy” and a consensus price target of $37.11.

BOX Stock Up 0.4 %

Shares of NYSE BOX opened at $30.35 on Wednesday. The stock’s 50 day moving average price is $32.73 and its two-hundred day moving average price is $32.70. BOX has a 52-week low of $24.63 and a 52-week high of $35.74. The stock has a market capitalization of $4.36 billion, a P/E ratio of 37.93, a PEG ratio of 4.42 and a beta of 1.00.

BOX declared that its Board of Directors has initiated a share repurchase program on Tuesday, March 4th that allows the company to repurchase $150.00 million in shares. This repurchase authorization allows the software maker to repurchase up to 3.1% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Insider Buying and Selling

In other BOX news, CFO Dylan C. Smith sold 13,000 shares of the stock in a transaction on Monday, March 10th. The stock was sold at an average price of $31.95, for a total transaction of $415,350.00. Following the completion of the transaction, the chief financial officer now directly owns 1,440,684 shares of the company’s stock, valued at approximately $46,029,853.80. This trade represents a 0.89 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Aaron Levie sold 10,000 shares of the stock in a transaction on Monday, March 10th. The shares were sold at an average price of $32.08, for a total value of $320,800.00. Following the transaction, the chief executive officer now directly owns 2,979,780 shares of the company’s stock, valued at approximately $95,591,342.40. The trade was a 0.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 78,363 shares of company stock valued at $2,533,374 in the last three months. 4.10% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On BOX

A number of institutional investors and hedge funds have recently added to or reduced their stakes in BOX. Arrowstreet Capital Limited Partnership boosted its stake in BOX by 103.9% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 3,386,370 shares of the software maker’s stock valued at $107,009,000 after purchasing an additional 1,725,197 shares in the last quarter. Norges Bank bought a new stake in shares of BOX during the 4th quarter worth $29,973,000. Jupiter Asset Management Ltd. bought a new stake in shares of BOX during the 4th quarter worth $24,234,000. Fisher Asset Management LLC boosted its stake in shares of BOX by 420.6% during the 4th quarter. Fisher Asset Management LLC now owns 857,498 shares of the software maker’s stock worth $27,097,000 after acquiring an additional 692,784 shares in the last quarter. Finally, Wells Fargo & Company MN boosted its stake in shares of BOX by 22.9% during the 4th quarter. Wells Fargo & Company MN now owns 1,633,647 shares of the software maker’s stock worth $51,623,000 after acquiring an additional 304,755 shares in the last quarter. 86.74% of the stock is owned by institutional investors.

BOX Company Profile

Box, Inc engages in the provision of an enterprise content platform that enables organizations to securely manage enterprise content while allowing easy, secure access and sharing of this content from anywhere, on any device. Its products include cloud content management, IT and admin controls, Box Governance, Box Zones, Box Relay, Box Shuttle, and Box KeySafe.