Box Inc (BOX)’s Stock Is Buy After Forming Descending Triangle

September 17, 2017 - By Darrin Black

The stock of Box Inc (BOX) formed a descending triangle with $19.38 target or 5.00 % above today’s $18.46 share price. The 9 months triangle pattern indicates low risk for the $2.47 billion company. If the $19.38 price target is reached, the company will be worth $123.50 million more.
The descending triangle is in our view more reliable than the ascending one. The descending triangle pattern has break even failure rate for up and down breakouts of 7% and 16%, respectively. The average rise and decline is 47% and 16%. The throwback or so called pullback rates are: 37% and 54%. The stocks meeting their targets is high for this type of breakout: 84% and 54% percent.

It closed at $18.46 lastly. It is up 49.74% since September 17, 2016 and is uptrending. It has outperformed by 33.04% the S&P500.

Investors wait Box Inc (NYSE:BOX) to report on November, 29. its quarterly earnings Wall Street analysts expect $-0.29 EPS, up $0.01 or 3.33 % from last year’s $-0.3 same quarter earnings. Box Inc’s Wall Street analysts see -3.33 % EPS growth, taking into account the $-0.30 EPS reproted in the previous quarter,

Box Inc (NYSE:BOX) Ratings Coverage

Among 15 analysts covering Box Inc (NYSE:BOX), 12 have Buy rating, 0 Sell and 3 Hold. Therefore 80% are positive. Box Inc had 29 analyst reports since July 27, 2015 according to SRatingsIntel. The rating was maintained by KeyBanc Capital Markets on Thursday, August 31 with “Buy”. The rating was upgraded by Pacific Crest on Monday, July 27 to “Overweight”. The firm earned “Buy” rating on Tuesday, June 27 by Drexel Hamilton. The firm has “Buy” rating by Rosenblatt given on Monday, July 17. The stock of Box Inc (NYSE:BOX) earned “Buy” rating by Oppenheimer on Wednesday, August 30. Drexel Hamilton maintained the stock with “Buy” rating in Tuesday, May 30 report. Mitsubishi UFJ initiated the stock with “Neutral” rating in Friday, September 16 report. On Thursday, August 31 the stock rating was maintained by Rosenblatt with “Buy”. Drexel Hamilton maintained it with “Buy” rating and $28.0 target in Monday, August 28 report. The rating was initiated by Rosenblatt with “Buy” on Monday, September 26.

More notable recent Box Inc (NYSE:BOX) news were published by: Investorplace.com which released: “3 Stocks to Watch on Thursday: Dollar General Corp. (DG), Box Inc (BOX) and …” on August 31, 2017, also Marketwatch.com with their article: “Box shares drop despite earnings beat” published on August 30, 2017, Bizjournals.com published: “Box no longer cash-flow positive, stock drops” on August 31, 2017. More interesting news about Box Inc (NYSE:BOX) were released by: Investorplace.com and their article: “Box Inc Continues to Enrich AI Platform, Partners With Google Cloud” published on August 24, 2017 as well as Nasdaq.com‘s news article titled: “Box, Inc (BOX) to Report Q2 Earnings: What’s in the Cards?” with publication date: August 28, 2017.

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