Box Inc (BOX) is Reiterated by Canaccord Genuity to Buy, Lowers Price Target to $ 16

Box Inc (BOX) was Reiterated by Canaccord Genuity to “Buy” while Lowering the Price Target of the company shares to $ 16 from a previous price target of $18 . Canaccord Genuity advised their investors in a research report released on Jun 2, 2016.

Many Wall Street Analysts have commented on Box Inc. Shares were Downgraded by JP Morgan on Jun 2, 2016 to ” Neutral” and Lowered the Price Target to $ 14 from a previous price target of $18 .Drexel Hamilton Initiated Box Inc on Apr 1, 2016 to “Buy”, Price Target of the shares are set at $18.

On the company’s financial health, Box Inc reported $-0.18 EPS for the quarter, beating the analyst consensus estimate by $ 0.06 according to the earnings call on Jun 1, 2016. Analyst had a consensus of $-0.24. The company had revenue of $90.20 million for the quarter, compared to analysts expectations of $88.69 million. The company’s revenue was up 37.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.28 EPS.

Box Inc opened for trading at $12.55 and hit $12.93 on the upside on Wednesday, eventually ending the session at $12.81, with a gain of 1.99% or 0.25 points. The heightened volatility saw the trading volume jump to 29,65,577 shares. Company has a market cap of $1,594 M.

In a different news, on Oct 9, 2015, Josh Stein (director) purchased 5,000 shares at $12.14 per share price. According to the SEC, on Oct 9, 2015, Aaron Levie (CEO) purchased 25,000 shares at $12.34 per share price.

Box Inc. provides a cloud-based mobile-optimized Enterprise Content Collaboration platform. The Company’s platform enables organizations to manage their content. Its platform enables users to collaborate on content both internally and externally build workflows and deploy compliance and security features. The Company’s platform works across multiple file formats application environments operating systems and devices. The Company also delivers industry-specific solutions that focus on customers in industries such as healthcare and life sciences financial services legal services media and entertainment retail education energy and Government. The Company’s platform integrates with the applications of its technology partners including NetSuite and others. Its Box OneCloud ecosystem provides users with access to around 1300 iOS and Android third-party applications.

Box Inc

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