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Wells Fargo Thinks Boxed’s Stock is Going to Recover

In a report released today, Brian Fitzgerald from Wells Fargo initiated coverage with a Buy rating on Boxed (BOXDResearch Report) and a price target of $8.00. The company’s shares closed last Tuesday at $1.63, close to its 52-week low of $1.27.

According to TipRanks.com, Fitzgerald is a 5-star analyst with an average return of 18.2% and a 57.0% success rate. Fitzgerald covers the Technology sector, focusing on stocks such as IAC/InteractiveCorp., Integral Ad Science, and LiveRamp Holdings.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Boxed with a $10.33 average price target, a 518.6% upside from current levels. In a report issued on June 28, D.A. Davidson also reiterated a Buy rating on the stock with a $11.00 price target.

See the top stocks recommended by analysts >>

The company has a one-year high of $17.05 and a one-year low of $1.27. Currently, Boxed has an average volume of 6.69M.

Based on the recent corporate insider activity of 10 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of BOXD in relation to earlier this year.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Seven Oaks Acquisition Corp is a blank check company.

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