BOX (NYSE:BOX) Posts Earnings Results, Beats Estimates By $0.01 EPS

BOX (NYSE:BOX) released its quarterly earnings results on Tuesday. The software maker reported $0.37 earnings per share for the quarter, topping analysts’ consensus estimates of $0.36 by $0.01, FiscalAI reports. BOX had a negative return on equity of 23.61% and a net margin of 9.80%.The company had revenue of $305.94 million during the quarter, compared to analysts’ expectations of $304.39 million.

BOX Stock Down 1.0%

Shares of NYSE:BOX traded down $0.26 during midday trading on Tuesday, reaching $25.64. The company’s stock had a trading volume of 5,548,729 shares, compared to its average volume of 2,541,892. The firm has a market cap of $3.55 billion, a price-to-earnings ratio of 43.46, a price-to-earnings-growth ratio of 1.33 and a beta of 0.71. BOX has a 1 year low of $21.34 and a 1 year high of $38.80. The business has a 50 day moving average price of $24.20 and a 200 day moving average price of $26.49.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on BOX shares. Morgan Stanley cut their price target on BOX from $38.00 to $33.00 and set an “equal weight” rating for the company in a report on Thursday, March 12th. Citigroup lowered their price objective on BOX from $40.00 to $36.00 and set a “buy” rating for the company in a research report on Wednesday, March 4th. Weiss Ratings downgraded BOX from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday, May 11th. Wall Street Zen downgraded BOX from a “strong-buy” rating to a “buy” rating in a research report on Saturday, May 9th. Finally, DA Davidson reaffirmed a “buy” rating and issued a $45.00 price objective on shares of BOX in a research report on Friday, March 20th. Four investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, BOX has an average rating of “Hold” and a consensus target price of $35.57.

Insider Activity

In other BOX news, VP Eli Berkovitch sold 24,500 shares of the business’s stock in a transaction dated Wednesday, April 8th. The stock was sold at an average price of $23.85, for a total transaction of $584,325.00. Following the completion of the sale, the vice president owned 95,516 shares of the company’s stock, valued at approximately $2,278,056.60. The trade was a 20.41% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Dana L. Evan sold 17,034 shares of the business’s stock in a transaction dated Monday, April 6th. The shares were sold at an average price of $24.24, for a total value of $412,904.16. Following the sale, the director directly owned 113,525 shares of the company’s stock, valued at approximately $2,751,846. This trade represents a 13.05% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 137,086 shares of company stock valued at $3,345,852 in the last 90 days. 3.90% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On BOX

Several institutional investors and hedge funds have recently modified their holdings of the stock. Smartleaf Asset Management LLC boosted its position in shares of BOX by 22.9% in the second quarter. Smartleaf Asset Management LLC now owns 2,633 shares of the software maker’s stock worth $90,000 after buying an additional 490 shares during the period. Maryland State Retirement & Pension System boosted its position in shares of BOX by 2.4% in the fourth quarter. Maryland State Retirement & Pension System now owns 21,318 shares of the software maker’s stock worth $638,000 after buying an additional 500 shares during the period. Raymond James Financial Inc. boosted its position in shares of BOX by 1.5% in the second quarter. Raymond James Financial Inc. now owns 37,237 shares of the software maker’s stock worth $1,272,000 after buying an additional 541 shares during the period. Illinois Municipal Retirement Fund boosted its position in shares of BOX by 0.7% in the fourth quarter. Illinois Municipal Retirement Fund now owns 75,955 shares of the software maker’s stock worth $2,272,000 after buying an additional 552 shares during the period. Finally, MML Investors Services LLC boosted its position in shares of BOX by 6.2% in the fourth quarter. MML Investors Services LLC now owns 9,499 shares of the software maker’s stock worth $284,000 after buying an additional 553 shares during the period. Hedge funds and other institutional investors own 86.74% of the company’s stock.

BOX announced that its Board of Directors has approved a share buyback plan on Thursday, March 19th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the software maker to buy up to 14.2% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.

About BOX

Box, Inc is a leading provider of cloud content management and file sharing solutions designed to support enterprises in securely managing, accessing and collaborating on digital content from anywhere. The company offers a unified platform that enables organizations to store, share and automate workflows across various departments, enhancing productivity and ensuring governance over sensitive information. Box’s services are tailored to meet the needs of industries such as healthcare, financial services, government and media, where compliance and data security are paramount.

The core offerings of Box include its Content Cloud platform, which provides content collaboration, workflow automation, data classification and secure file sharing.