BOX (NYSE:BOX) Updates FY23 Earnings Guidance

BOX (NYSE:BOXGet Rating) updated its FY23 earnings guidance on Wednesday. The company provided earnings per share guidance of $1.11-$1.15 for the period, compared to the consensus earnings per share estimate of $1.13. The company issued revenue guidance of $992-$996 million, compared to the consensus revenue estimate of $993.36 million.BOX also updated its FY 2023 guidance to $1.11-$1.15 EPS.

A number of research firms recently commented on BOX. JPMorgan Chase & Co. raised BOX from an underweight rating to a neutral rating and increased their target price for the company from $22.00 to $28.00 in a research note on Thursday, March 3rd. Craig Hallum reduced their price objective on BOX to $41.00 in a research note on Thursday. Morgan Stanley raised their price objective on BOX from $30.00 to $32.00 and gave the company an equal weight rating in a research note on Thursday, March 3rd. KeyCorp raised their price objective on BOX from $30.00 to $32.00 and gave the company an overweight rating in a research note on Thursday, March 3rd. Finally, Oppenheimer reaffirmed an outperform rating and set a $30.00 price objective on shares of BOX in a research note on Friday, March 18th. Four analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, BOX currently has an average rating of Buy and an average price target of $31.10.

Shares of BOX stock traded up $1.43 during trading on Thursday, reaching $27.49. 147,261 shares of the stock were exchanged, compared to its average volume of 1,808,515. The stock’s fifty day moving average is $29.23 and its 200 day moving average is $27.00. The firm has a market cap of $3.94 billion, a price-to-earnings ratio of -78.54 and a beta of 1.15. BOX has a 1 year low of $22.18 and a 1 year high of $33.04.

BOX (NYSE:BOXGet Rating) last posted 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 for the quarter, compared to the consensus estimate of $234.48 million. The company’s revenue for the quarter was up 17.8% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.07) EPS. On average, analysts predict that BOX will post -0.12 earnings per share for the current year.

In other BOX news, CFO Dylan C. Smith sold 15,000 shares of the firm’s stock in a transaction dated Tuesday, May 10th. The shares were sold at an average price of $29.05, for a total value of $435,750.00. Following the completion of the sale, the chief financial officer now directly owns 1,462,315 shares in the company, valued at $42,480,250.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Eli Berkovitch sold 8,000 shares of the firm’s stock in a transaction dated Monday, March 28th. The stock was sold at an average price of $28.36, for a total transaction of $226,880.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 38,000 shares of company stock valued at $1,091,930. 6.20% of the stock is currently owned by company insiders.

A number of institutional investors and hedge funds have recently modified their holdings of BOX. Fairfield Bush & CO. bought a new position in shares of BOX during the first quarter valued at approximately $29,000. Cambridge Investment Research Advisors Inc. bought a new position in shares of BOX during the first quarter valued at approximately $206,000. Prelude Capital Management LLC bought a new position in shares of BOX during the first quarter valued at approximately $284,000. Virtu Financial LLC bought a new position in shares of BOX during the fourth quarter valued at approximately $401,000. Finally, Mackenzie Financial Corp increased its stake in shares of BOX by 8.9% during the fourth quarter. Mackenzie Financial Corp now owns 15,400 shares of the software maker’s stock valued at $403,000 after purchasing an additional 1,255 shares in the last quarter. Institutional investors and hedge funds own 87.42% of the company’s stock.

About BOX (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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