Box Inc. (BOX) Issues Q4 Earnings Guidance
Box Inc. (NYSE:BOX) updated its fourth quarter earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of (0.14)-(0.13) for the period, compared to the Thomson Reuters consensus estimate of ($0.16). The company issued revenue guidance of $108-109 million, compared to the consensus revenue estimate of $108.78 million.
A number of equities research analysts have recently issued reports on the stock. Drexel Hamilton reissued a buy rating and issued a $18.00 target price on shares of Box in a research report on Tuesday. Vetr cut shares of Box from a strong-buy rating to a buy rating and set a $17.18 target price for the company. in a research report on Thursday, November 24th. JMP Securities reaffirmed a buy rating on shares of Box in a research report on Monday, November 21st. Zacks Investment Research raised shares of Box from a hold rating to a buy rating and set a $16.00 price objective for the company in a research report on Wednesday, November 2nd. Finally, Stifel Nicolaus reaffirmed a hold rating and set a $15.00 price objective on shares of Box in a research report on Monday, October 10th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of Buy and a consensus target price of $17.95.
Box Inc. (NYSE:BOX) traded down 0.46% on Wednesday, hitting $15.22. The stock had a trading volume of 1,516,477 shares. The stock’s market capitalization is $1.93 billion. The company has a 50-day moving average price of $14.84 and a 200-day moving average price of $13.05. Box Inc. has a 1-year low of $8.82 and a 1-year high of $16.59.
Box (NYSE:BOX) last issued its earnings results on Wednesday, November 30th. The company reported ($0.14) EPS for the quarter, topping the consensus estimate of ($0.19) by $0.05. Box had a negative return on equity of 133.73% and a negative net margin of 52.12%. The business earned $102.80 million during the quarter, compared to the consensus estimate of $103.34 million. During the same quarter last year, the company earned ($0.31) EPS. The firm’s revenue was up 30.6% compared to the same quarter last year. Equities analysts predict that Box Inc. will post ($0.68) earnings per share for the current year.
In other news, VP Jeff Mannie sold 3,756 shares of Box stock in a transaction dated Monday, September 26th. The stock was sold at an average price of $14.67, for a total transaction of $55,100.52. 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 5,000 shares of Box stock in a transaction dated Tuesday, September 6th. The shares were sold at an average price of $14.35, for a total value of $71,750.00. Following the sale, the chief operating officer now owns 3,079 shares of the company’s stock, valued at approximately $44,183.65. The disclosure for this sale can be found here. 22.30% of the stock is owned by company insiders.
Hedge funds have recently modified their holdings of the stock. Jefferies Group LLC acquired a new stake in shares of Box during the second quarter worth about $1,034,000. State Street Corp increased 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 during the period. Spark Investment Management LLC acquired a new stake in shares of Box during the second quarter worth about $3,226,000. Rhumbline Advisers increased 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 during the period. Finally, Teachers Advisors Inc. increased 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 during the period. Hedge funds and other institutional investors own 27.58% 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.
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