Box, Inc. (BOX) Announces Earnings Results
Box, Inc. (NYSE:BOX) announced its quarterly earnings results on Wednesday. The software maker reported ($0.11) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.13) by $0.02, Bloomberg Earnings reports. Box had a negative net margin of 34.11% and a negative return on equity of 207.36%. The firm had revenue of $122.94 million for the quarter, compared to analyst estimates of $121.75 million. During the same quarter in the previous year, the firm posted ($0.14) earnings per share. The business’s revenue was up 28.4% on a year-over-year basis. Box updated its Q3 guidance to $(0.14)-(0.13) EPS and its FY18 guidance to $(0.46)-(0.44) EPS.
Box (NYSE:BOX) opened at 19.62 on Friday. Box has a 52 week low of $13.50 and a 52 week high of $20.91. The firm’s market cap is $2.58 billion. The firm’s 50-day moving average price is $19.13 and its 200 day moving average price is $18.09. Box also was the recipient of some unusual options trading on Wednesday. Stock investors purchased 5,432 put options on the company. This represents an increase of approximately 882% compared to the average daily volume of 553 put options.
A number of research analysts have weighed in on BOX shares. BidaskClub raised shares of Box from a “hold” rating to a “buy” rating in a research note on Wednesday, August 23rd. Wells Fargo & Company reiterated an “outperform” rating and issued a $27.00 price objective (up from $24.00) on shares of Box in a report on Thursday, June 1st. Morgan Stanley reiterated an “equal weight” rating and issued a $20.00 price objective (up from $19.00) on shares of Box in a report on Thursday, June 1st. Mitsubishi UFJ Financial Group upgraded shares of Box from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $17.50 to $23.00 in a report on Thursday, June 1st. Finally, Rosenblatt Securities reiterated a “buy” rating and issued a $25.00 price objective on shares of Box in a report on Monday, June 26th. Six analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $22.24.
In other news, Director Rory O’driscoll sold 332,992 shares of Box stock in a transaction dated Thursday, June 22nd. The stock was sold at an average price of $19.04, for a total transaction of $6,340,167.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Daniel J. Levin sold 40,000 shares of Box stock in a transaction dated Thursday, June 15th. The shares were sold at an average price of $18.28, for a total value of $731,200.00. Following the sale, the chief operating officer now owns 3,752 shares of the company’s stock, valued at approximately $68,586.56. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,748,934 shares of company stock valued at $32,700,266. Corporate insiders own 22.30% of the company’s stock.
Box Company Profile
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.
Receive News & Stock Ratings for Box Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Box Inc. and related stocks with our FREE daily email newsletter.