Box (BOX) : Traders are bullish on Box (BOX) as it has outperformed the S&P 500 by a wide margin of 19.9% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 3.32%, relative to the S&P 500. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 3.29% in the last 1 week, and is up 20.36% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.
Box, Inc. is up 10.17% in the last 3-month period. Year-to-Date the stock performance stands at -7.66%. The stock has recorded a 20-day Moving Average of 7.78% and the 50-Day Moving Average is 14.54%.
Box (NYSE:BOX): During Fridays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $12.74 and $12.65 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $12.94. The buying momentum continued till the end and the stock did not give up its gains. It closed at $12.89, notching a gain of 1.18% for the day. The total traded volume was 494,332 . The stock had closed at $12.74 on the previous day.
Also, Equity Analysts at the JP Morgan downgrades the rating on Box (NYSE:BOX). The brokerage firm has issued a Neutral rating on the shares. The shares were previously rated Overweight. The Analysts at the ratings agency lowers the price target from $18 per share to $14 per share. The rating by the firm was issued on June 2, 2016.
Box, Inc. provides a cloud-based, mobile-optimized Enterprise Content Collaboration platform. The Companys 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 Companys 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 Companys platform integrates with the applications of its technology partners, including salesforce.com, NetSuite and others. Its Box OneCloud ecosystem provides users with access to around 1,300 iOS and Android third-party applications.