Box Inc. (BOX) Issues Q4 Earnings Guidance
Box Inc. (NYSE:BOX) updated its fourth quarter earnings guidance on Wednesday. The company provided EPS guidance of (0.14)-(0.13) for the period, compared to the Thomson Reuters consensus EPS estimate of ($0.16). The company issued revenue guidance of $108-109 million, compared to the consensus revenue estimate of $108.78 million.
Several research firms have weighed in on BOX. Drexel Hamilton reiterated a buy rating and issued a $18.00 price objective on shares of Box in a research note on Tuesday. Vetr lowered shares of Box from a strong-buy rating to a buy rating and set a $17.18 price objective on the stock. in a research note on Thursday, November 24th. JMP Securities restated a buy rating on shares of Box in a research note on Monday, November 21st. Zacks Investment Research upgraded shares of Box from a hold rating to a buy rating and set a $16.00 price target on the stock in a research note on Wednesday, November 2nd. Finally, Stifel Nicolaus restated a hold rating and set a $15.00 price target on shares of Box in a research note on Monday, October 10th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of Buy and a consensus target price of $17.95.
Shares of Box Inc. (NYSE:BOX) traded down 0.46% during trading on Wednesday, hitting $15.22. 1,516,477 shares of the stock were exchanged. The firm’s 50-day moving average is $14.84 and its 200 day moving average is $13.05. The company’s market cap is $1.93 billion. Box Inc. has a 1-year low of $8.82 and a 1-year high of $16.59.
Box (NYSE:BOX) last posted its quarterly earnings data on Wednesday, November 30th. The company reported ($0.14) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.19) by $0.05. Box had a negative net margin of 52.12% and a negative return on equity of 133.73%. The company had revenue of $102.80 million for the quarter, compared to the consensus estimate of $103.34 million. During the same period last year, the company earned ($0.31) earnings per share. The firm’s revenue was up 30.6% compared to the same quarter last year. Equities analysts forecast that Box Inc. will post ($0.68) earnings per share for the current fiscal year.
In related news, COO Daniel J. Levin sold 5,000 shares of the business’s stock in a transaction on Tuesday, September 13th. The shares were sold at an average price of $14.44, for a total transaction of $72,200.00. Following the transaction, the chief operating officer now directly owns 3,079 shares in the company, valued at $44,460.76. The sale was disclosed in a filing with the SEC, which is available through this link. Also, VP Jeff Mannie sold 3,756 shares of the business’s stock in a transaction on Monday, September 26th. The stock was sold at an average price of $14.67, for a total transaction of $55,100.52. The disclosure for this sale can be found here. 22.30% of the stock is currently owned by insiders.
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A number of institutional investors have recently modified their holdings of the company. BlackRock Fund Advisors increased its position in shares of Box by 266.2% in the second quarter. BlackRock Fund Advisors now owns 1,151,475 shares of the company’s stock worth $11,906,000 after buying an additional 837,075 shares during the last quarter. State Street Corp increased its position in shares of Box by 219.3% in the second quarter. State Street Corp now owns 738,667 shares of the company’s stock worth $7,636,000 after buying an additional 507,337 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Box by 18.8% in the second quarter. Vanguard Group Inc. now owns 2,496,539 shares of the company’s stock worth $25,814,000 after buying an additional 395,010 shares during the last quarter. BlackRock Institutional Trust Company N.A. increased its position in shares of Box by 50.1% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 1,122,049 shares of the company’s stock worth $11,602,000 after buying an additional 374,654 shares during the last quarter. Finally, Spark Investment Management LLC purchased a new position in shares of Box during the second quarter worth $3,226,000. Institutional investors and hedge funds own 27.58% of the company’s stock.
Box, Inc provides an enterprise content management platform that enables organizations of all sizes to manage enterprise content while allowing access and sharing of this content from anywhere, on any device. With the Company’s Software-as-a-Service (SaaS) cloud-based platform, users can collaborate on content both internally and with external parties, automate content-driven business processes, develop custom applications, and implement data protection, security and compliance features to comply with internal policies and industry regulations.
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