BOX (NYSE:BOX – Get Rating) issued an update on its FY23 earnings guidance on Wednesday morning. The company provided EPS guidance of $1.11-$1.15 for the period, compared to the consensus EPS 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.
Shares of NYSE BOX traded up $0.62 during midday trading on Wednesday, hitting $26.06. 2,311,070 shares of the company’s stock were exchanged, compared to its average volume of 1,808,515. BOX has a twelve month low of $22.18 and a twelve month high of $33.04. The company has a market cap of $3.74 billion, a PE ratio of -74.46 and a beta of 1.15. The firm’s fifty day simple moving average is $29.25 and its 200-day simple moving average is $27.01.
BOX (NYSE:BOX – Get Rating) last issued its earnings results on Wednesday, May 25th. The software maker reported $0.23 earnings per share for the quarter, missing the consensus estimate of $0.25 by ($0.02). The firm had revenue of $238.40 million during the quarter, compared to analyst estimates of $234.48 million. During the same quarter in the previous year, the business earned ($0.07) earnings per share. The business’s quarterly revenue was up 17.8% on a year-over-year basis. On average, analysts anticipate that BOX will post -0.12 EPS for the current fiscal year.
A number of brokerages have weighed in on BOX. Craig Hallum boosted their price objective on BOX from $38.00 to $44.00 in a research note on Thursday, March 3rd. JPMorgan Chase & Co. upgraded shares of BOX from an underweight rating to a neutral rating and increased their price target for the stock from $22.00 to $28.00 in a research note on Thursday, March 3rd. StockNews.com assumed coverage on shares of BOX in a research note on Thursday, March 31st. They set a strong-buy rating for the company. Oppenheimer reiterated an outperform rating and set a $30.00 price target on shares of BOX in a research note on Friday, March 18th. Finally, KeyCorp increased their price target on shares of BOX from $30.00 to $32.00 and gave the stock an overweight rating in a research note on Thursday, March 3rd. Four research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of Buy and a consensus target price of $31.40.
In other BOX news, VP Eli Berkovitch sold 8,000 shares of the firm’s stock in a transaction dated Monday, March 28th. The shares were sold at an average price of $28.36, for a total transaction of $226,880.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 transaction of $435,750.00. Following the transaction, the chief financial officer now owns 1,462,315 shares of the company’s stock, valued at $42,480,250.75. The disclosure for this sale can be found here. Insiders sold a total of 38,000 shares of company stock valued at $1,091,930 in the last quarter. Insiders own 6.20% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. boosted its stake in shares of BOX by 0.3% during the 4th quarter. BlackRock Inc. now owns 12,972,191 shares of the software maker’s stock worth $339,741,000 after purchasing an additional 44,354 shares during the last quarter. Morgan Stanley boosted its position in shares of BOX by 23.6% in the second quarter. Morgan Stanley now owns 2,615,252 shares of the software maker’s stock worth $66,819,000 after acquiring an additional 500,169 shares during the last quarter. Allianz Asset Management GmbH boosted its position in shares of BOX by 21.6% in the fourth quarter. Allianz Asset Management GmbH now owns 2,088,072 shares of the software maker’s stock worth $54,686,000 after acquiring an additional 370,288 shares during the last quarter. Wells Fargo & Company MN boosted its position in shares of BOX by 10.9% in the fourth quarter. Wells Fargo & Company MN now owns 1,136,174 shares of the software maker’s stock worth $29,757,000 after acquiring an additional 111,645 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in shares of BOX by 18.6% in the first quarter. Dimensional Fund Advisors LP now owns 1,091,273 shares of the software maker’s stock worth $31,713,000 after acquiring an additional 170,949 shares during the last quarter. 87.42% of the stock is currently owned by institutional investors.
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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