BOX (NYSE: BOX) Updates Q2 2023 Earnings Guidance

BOX (NYSE: BOX – Get Rating) issued an update on its second quarter 2023 earnings guidance on Wednesday morning. The company provided earnings per share guidance of $ 0.27- $ 0.28 for the period, compared to the consensus earnings per share estimate of $ 0.27. The company issued revenue guidance of $ 244.00 million- $ 246.00 million, compared to the consensus revenue estimate of $ 243.74 million. BOX also updated its FY 2023 guidance to $ 1.11- $ 1.15 EPS.

Shares of NYSE BOX opened at $ 23.99 on Wednesday. The firm has a market cap of $ 3.46 billion, a P / E ratio of -74.97 and a beta of 1.16. BOX has a 1-year low of $ 22.18 and a 1-year high of $ 33.04. The business’s 50-day moving average is $ 28.05 and its 200-day moving average is $ 27.07.

BOX (NYSE: BOX – Get Rating) last announced its earnings results on Wednesday, May 25th. The software maker reported $ 0.23 earnings per share for the quarter, missing analysts’ consensus estimates of $ 0.25 by ($ 0.02). The firm had revenue of $ 238.40 million during the quarter, compared to the consensus estimate of $ 234.48 million. During the same quarter in the prior year, the business posted ($ 0.07) EPS. The company’s revenue for the quarter was up 17.8% compared to the same quarter last year. On average, research analysts predict that BOX will post -0.13 earnings per share for the current fiscal year.

A number of equities analysts have commented on BOX shares. StockNews.com lowered BOX from a strong-buy rating to a buy rating in a research note on Saturday. Craig Hallum lowered their price objective on BOX to $ 41.00 in a research note on Thursday, May 26th. Morgan Stanley raised their target price on BOX from $ 30.00 to $ 32.00 and gave the company an equal weight rating in a report on Thursday, March 3rd. JPMorgan Chase & Co. raised BOX from an underweight rating to a neutral rating and raised their target price for the company from $ 22.00 to $ 28.00 in a report on Thursday, March 3rd. Finally, KeyCorp raised their target price on BOX from $ 30.00 to $ 32.00 and gave the company an overweight rating in a report on Thursday, March 3rd. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and a consensus price target of $ 31.56.

In related news, CFO Dylan C. Smith sold 15,000 shares of the firm’s stock in a transaction on Monday, April 11th. The stock was sold at an average price of $ 28.62, for a total transaction of $ 429,300.00. Following the completion of the transaction, the chief financial officer now directly owns 1,477,315 shares of the company’s stock, valued at approximately $ 42,280,755.30. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Eli Berkovitch sold 8,000 shares of the firm’s stock in a transaction on Monday, March 28th. The stock was sold at an average price of $ 28.36, for a total value of $ 226,880.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 53,000 shares of company stock worth $ 1,476,680. 5.20% of the stock is currently owned by company insiders.

Large investors have recently made changes to their positions in the stock. Millennium Management LLC raised its position in BOX by 108.1% during the 3rd quarter. Millennium Management LLC now owns 44,336 shares of the software maker’s stock worth $ 1,049,000 after purchasing an additional 594,526 shares during the last quarter. PDT Partners LLC raised its position in BOX by 72.1% during the 1st quarter. PDT Partners LLC now owns 35,921 shares of the software maker’s stock worth $ 1,044,000 after purchasing an additional 15,046 shares during the last quarter. Natixis Advisors LP raised its position in shares of BOX by 54.5% in the 1st quarter. Natixis Advisors LP now owns 22,540 shares of the software maker’s stock worth $ 655,000 after acquiring an additional 7,953 shares in the last quarter. Royal Bank of Canada raised its position in shares of BOX by 1.6% in the 3rd quarter. Royal Bank of Canada now owns 27,357 shares of the software maker’s stock worth $ 648,000 after acquiring an additional 443 shares in the last quarter. Finally, LPL Financial LLC raised its position in BOX shares by 16.2% in the 3rd quarter. LPL Financial LLC now owns 27,080 shares of the software maker’s stock worth $ 641,000 after acquiring an additional 3,778 shares in the last quarter. 87.42% of the stock is owned by institutional investors and hedge funds.

BOX Company Profile (Get Rating)

Box, Inc provides a cloud content management platform that enables organizations of various sizes to manage and share their content from anywhere on any device. The company’s Software-as-a-Service platform enables users to collaborate on content internally and with external parties, automate content-driven business processes, develop custom applications, and implement data protection, security, and compliance features to comply with legal and regulatory requirements , internal policies, and industry standards and regulations.

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Earnings History and Estimates for BOX (NYSE: BOX)

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