Morgan Stanley Believes Box (NYSE: BOX) Still Has Room to Grow

In a report released today, Melissa Franchi from Morgan Stanley maintained a Buy rating on Box (BOXResearch Report), with a price target of $21.00. The company’s shares closed last Friday at $18.99, close to its 52-week high of $19.95.

According to TipRanks.com, Franchi is a 1-star analyst with an average return of -4.2% and a 49.2% success rate. Franchi covers the Technology sector, focusing on stocks such as SailPoint Technologies Holdings, CyberArk Software, and Tenable Holdings.

Currently, the analyst consensus on Box is a Moderate Buy with an average price target of $18.33.

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Based on Box’s latest earnings release for the quarter ending January 31, the company reported a quarterly revenue of $184 million and GAAP net loss of $30.39 million. In comparison, last year the company earned revenue of $164 million and had a GAAP net loss of $19.69 million.

Based on the recent corporate insider activity of 32 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of BOX in relation to earlier this year. Last month, Mannie Jeff, the VP Controller & Chief Acct Ofr of BOX sold 14,787 shares for a total of $220,369.

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Box, Inc. engages in the provision of 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, box keysafe and automations. The company was founded by Aaron Levie, Dylan Smith, Jeff Queisser and Sam Ghods in March 2005 and is headquartered in Redwood City, CA.