BOX (NYSE:BOX) Receives Buy Rating from DA Davidson

DA Davidson restated their buy rating on shares of BOX (NYSE:BOX - Free Report) in a research report report published on Wednesday morning,Benzinga reports. DA Davidson currently has a $45.00 price objective on the software maker's stock. DA Davidson also issued estimates for BOX's FY2027 earnings at ($0.33) EPS.

Other equities analysts have also issued reports about the stock. JPMorgan Chase & Co. lowered their price objective on shares of BOX from $38.00 to $37.00 and set an "overweight" rating on the stock in a research report on Wednesday, March 5th. UBS Group lifted their price objective on shares of BOX from $34.00 to $42.00 and gave the company a "buy" rating in a research report on Wednesday, December 4th. Royal Bank of Canada reiterated an "underperform" rating and issued a $21.00 price objective on shares of BOX in a research report on Wednesday. Raymond James reiterated an "outperform" rating and issued a $38.00 price objective (down from $40.00) on shares of BOX in a research report on Wednesday, March 5th. Finally, StockNews.com lowered shares of BOX from a "strong-buy" rating to a "buy" rating in a research report on Wednesday, January 8th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and nine have given a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $37.11.

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BOX Price Performance

Shares of BOX traded up $0.13 during mid-day trading on Wednesday, reaching $30.35. 2,367,311 shares of the company's stock were exchanged, compared to its average volume of 1,731,793. The business's fifty day simple moving average is $32.73 and its 200-day simple moving average is $32.71. 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 PE ratio of 37.93, a price-to-earnings-growth ratio of 4.42 and a beta of 1.00.

BOX declared that its board has initiated a stock repurchase program on Tuesday, March 4th that permits the company to buyback $150.00 million in shares. This buyback authorization permits the software maker to reacquire up to 3.1% of its shares through open market purchases. Shares buyback programs are often a sign that the company's leadership believes its stock is undervalued.

Insider Transactions at BOX

In related news, CFO Dylan C. Smith sold 13,000 shares of the business's stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $31.05, for a total value of $403,650.00. Following the completion of the transaction, the chief financial officer now owns 1,466,684 shares of the company's stock, valued at approximately $45,540,538.20. The trade was a 0.88 % 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 business's stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $32.08, for a total transaction of $320,800.00. Following the completion of the transaction, the chief executive officer now directly owns 2,979,780 shares of the company's stock, valued at $95,591,342.40. The trade was a 0.33 % decrease in their position. 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 90 days. 4.10% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in BOX. Itau Unibanco Holding S.A. purchased a new stake in BOX in the 3rd quarter valued at about $36,000. Smartleaf Asset Management LLC grew its holdings in BOX by 715.8% in the 4th quarter. Smartleaf Asset Management LLC now owns 2,162 shares of the software maker's stock valued at $69,000 after buying an additional 1,897 shares during the period. TD Waterhouse Canada Inc. grew its holdings in BOX by 42.4% in the 4th quarter. TD Waterhouse Canada Inc. now owns 2,194 shares of the software maker's stock valued at $69,000 after buying an additional 653 shares during the period. Farther Finance Advisors LLC grew its holdings in BOX by 19.3% in the 4th quarter. Farther Finance Advisors LLC now owns 2,579 shares of the software maker's stock valued at $81,000 after buying an additional 417 shares during the period. Finally, SBI Securities Co. Ltd. purchased a new stake in BOX in the 4th quarter valued at about $132,000. Institutional investors and hedge funds own 86.74% of the company's stock.

About BOX

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.