Is Buying Box Inc (BOX) Here a Winning Strategy? The Stock Formed Bullish Descending Triangle Chart Pattern

September 17, 2017 - By Richard Conner

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.

Analysts expect Box Inc (NYSE:BOX) to report $-0.29 EPS on November, 29.They anticipate $0.01 EPS change or 3.33 % from last quarter’s $-0.3 EPS. After having $-0.30 EPS previously, Box Inc’s analysts see -3.33 % EPS growth.

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 stock of Box Inc (NYSE:BOX) has “Buy” rating given on Wednesday, August 30 by Oppenheimer. Stifel Nicolaus maintained it with “Hold” rating and $17.0 target in Tuesday, August 15 report. The firm has “Hold” rating by Canaccord Genuity given on Thursday, September 10. The company was upgraded on Friday, September 25 by Canaccord Genuity. The rating was maintained by Oppenheimer on Thursday, June 1 with “Buy”. The stock of Box Inc (NYSE:BOX) earned “Overweight” rating by Pacific Crest on Monday, July 27. The stock has “Buy” rating by Rosenblatt on Thursday, August 31. On Thursday, August 31 the stock rating was upgraded by Mitsubishi UFJ to “Overweight”. The stock has “Overweight” rating by JP Morgan on Friday, October 16. Drexel Hamilton maintained it with “Buy” rating and $26 target in Monday, April 3 report.

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