Mitsubishi UFJ Upgrades Box Inc to Buy

By Ryan Adsit

In a report released today, Stephen Bersey from Mitsubishi UFJ upgraded Box Inc (NYSE: BOX) to Buy. The company’s shares closed yesterday at $19.64, close to its 52-week high of $20.91.

According to TipRanks.com, Bersey is a 3-star analyst with an average return of 7.3% and a 71.4% success rate. Bersey covers the Technology sector, focusing on stocks such as CommVault Systems, Pegasystems Inc, and Oracle Corp.

Currently, the analyst consensus on Box Inc is Strong Buy and the average price target is $23.80, representing a 21.2% upside.

In a report issued on August 28, Drexel Hamilton also reiterated a Buy rating on the stock with a $28 price target.

The company has a one year high of $20.91 and a one year low of $13.20. Currently, Box Inc has an average volume of 1.94M.

Based on the recent corporate insider activity of 64 insiders, corporate insider sentiment is negative on the stock. Most recently, in June 2017, Rory O’Driscoll, a Director at BOX sold 274,756 shares for a total of $5,312,937.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Box, Inc. provides 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. 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. It enables people to securely view, share and collaborate on content, across multiple file formats and media types, integrates with enterprise business applications, and is compatible with multiple application environments, operating systems and devices. The company was founded by Aaron Levie, Dylan Smith, Jeff Queisser and Sam Ghods in March 2005 and is headquartered in Redwood City, CA.