Box Inc. (BOX) Releases Quarterly Earnings Results, Beats Estimates By $0.05 EPS
Box Inc. (NYSE:BOX) announced its earnings results on Wednesday. The company reported ($0.14) EPS for the quarter, topping the consensus estimate of ($0.19) by $0.05. The business had revenue of $102.80 million for the quarter, compared to the consensus estimate of $103.34 million. Box had a negative return on equity of 133.73% and a negative net margin of 52.12%. Box’s revenue was up 30.6% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.31) EPS. Box updated its Q4 guidance to (0.14)-(0.13) EPS.
Shares of Box (NYSE:BOX) opened at 15.22 on Thursday. The company has a 50 day moving average of $14.83 and a 200-day moving average of $13.08. Box has a 52-week low of $8.82 and a 52-week high of $16.59. The company’s market cap is $1.93 billion.
Several brokerages have recently commented on BOX. Stifel Nicolaus reissued a “hold” rating and issued a $15.00 target price on shares of Box in a report on Monday, October 10th. Vetr downgraded Box from a “strong-buy” rating to a “buy” rating and set a $17.18 target price on the stock. in a report on Thursday, November 24th. JMP Securities reissued a “buy” rating on shares of Box in a report on Monday, November 21st. Drexel Hamilton reissued a “buy” rating and issued a $18.00 target price on shares of Box in a report on Tuesday. Finally, Pacific Crest reissued a “buy” rating and issued a $21.00 target price on shares of Box in a report on Friday, September 30th. One research analyst has rated the stock with a sell rating, five have given a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $17.95.
In related news, VP Jeff Mannie sold 3,756 shares of the stock in a transaction that occurred on Monday, September 26th. The shares were sold at an average price of $14.67, for a total transaction of $55,100.52. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, COO Daniel J. Levin sold 5,000 shares of the stock in a transaction that occurred on Tuesday, September 13th. The stock was sold at an average price of $14.44, for a total transaction of $72,200.00. Following the sale, the chief operating officer now owns 3,079 shares in the company, valued at approximately $44,460.76. The disclosure for this sale can be found here. Corporate insiders own 22.30% of the company’s stock.
Several hedge funds have recently bought and sold shares of the company. Jefferies Group LLC purchased a new stake in Box during the second quarter valued at about $1,034,000. State Street Corp raised its stake 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 in the last quarter. Spark Investment Management LLC bought a new stake in shares of Box during the second quarter worth $3,226,000. Rhumbline Advisers raised its stake in shares of Box by 236.4% in the second quarter. Rhumbline Advisers now owns 39,862 shares of the company’s stock worth $412,000 after buying an additional 28,013 shares in the last quarter. Finally, Teachers Advisors Inc. raised its stake in shares of Box by 306.7% in the second quarter. Teachers Advisors Inc. now owns 77,505 shares of the company’s stock worth $801,000 after buying an additional 58,447 shares in the last quarter. Institutional investors and hedge funds own 27.58% of the company’s stock.
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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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