What’s Propelling Box Inc (BOX) to Increase? The Stock Formed a Bullish Descending Triangle Pattern

September 17, 2017 - By Kurt Siggers

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 earnings per share, 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 firm earned “Buy” rating on Thursday, June 1 by Oppenheimer. The company was upgraded on Friday, August 7 by Oppenheimer. The rating was initiated by JMP Securities on Tuesday, December 22 with “Outperform”. The firm has “Buy” rating by Rosenblatt given on Monday, July 17. The rating was initiated by Wells Fargo on Wednesday, January 11 with “Outperform”. The stock has “Overweight” rating by JP Morgan on Friday, October 16. Rosenblatt maintained it with “Buy” rating and $26.0 target in Thursday, August 31 report. The rating was maintained by Stifel Nicolaus on Tuesday, August 15 with “Hold”. Canaccord Genuity upgraded the stock to “Buy” rating in Friday, September 25 report. On Friday, September 16 the stock rating was initiated by Mitsubishi UFJ with “Neutral”.

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 Nasdaq.com with their article: “Box, Inc (BOX) to Report Q2 Earnings: What’s in the Cards?” published on August 28, 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 Marketwatch.com‘s news article titled: “Box shares drop despite earnings beat” with publication date: August 30, 2017.

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