BOX Stock Downgraded by Morgan Stanley
BOX (NYSE:BOX) experienced a downgrade from Morgan Stanley, shifting from an overweight rating to an equal weight rating. The report was published on Wednesday morning, with a target price of $32.00 on the software maker’s stock, down from the previous target of $35.00.
BOX Price Performance and Earnings Results
BOX stock opened at $26.05 on Wednesday, with a market cap of $3.76 billion and a price-to-earnings ratio of 38.87. The company reported $0.09 EPS for the quarter, surpassing the consensus estimate of $0.02 by $0.07. The firm had revenue of $262.88 million during the quarter.
Insider Trading and Institutional Inflows
Director Daniel J. Levin sold 73,660 shares of BOX stock, while CEO Aaron Levie sold 10,000 shares. Institutional investors like Vanguard Group Inc. and Earnest Partners LLC have increased their holdings in BOX.
In conclusion, BOX (NYSE:BOX) saw a downgrade by Morgan Stanley, impacting its stock performance. The company’s recent earnings report exceeded expectations, but insider trading activities and institutional inflows have also been notable factors influencing the stock.