BOX (NYSE:BOX – Get Rating) issued an update on its third quarter 2023 earnings guidance on Tuesday morning. The company provided EPS guidance of $0.29-$0.30 for the period, compared to the consensus EPS estimate of $0.30. The company issued revenue guidance of $250.00 million-$252.00 million, compared to the consensus revenue estimate of $251.43 million. BOX also updated its FY 2023 guidance to $1.13-$1.16 EPS.
BOX Price Performance
BOX stock opened at $26.18 on Tuesday. The stock has a market capitalization of $3.73 billion, a PE ratio of -100.69 and a beta of 1.16. The business’s fifty day moving average is $28.07 and its 200 day moving average is $27.82. BOX has a one year low of $22.18 and a one year high of $33.04.
BOX (NYSE:BOX – Get Rating) last issued its quarterly earnings data on Wednesday, August 24th. The software maker reported $0.28 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.28. The company had revenue of $246.00 million for the quarter, compared to the consensus estimate of $245.77 million. During the same quarter last year, the company earned ($0.06) EPS. The firm’s revenue for the quarter was up 14.7% on a year-over-year basis. As a group, sell-side analysts expect that BOX will post -0.15 EPS for the current fiscal year.
Analyst Ratings Changes
Several equities research analysts have recently commented on BOX shares. Citigroup assumed coverage on shares of BOX in a research report on Thursday, September 1st. They set a buy rating and a $34.00 price target for the company. StockNews.com raised BOX from a buy rating to a strong-buy rating in a report on Saturday. KeyCorp assumed coverage on BOX in a report on Monday, September 12th. They set an overweight rating and a $34.00 price target for the company. Raymond James raised their price objective on BOX from $30.00 to $35.00 in a research note on Thursday, August 25th. Finally, Craig Hallum cut their price objective on BOX to $41.00 in a research note on Thursday, May 26th. Three research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, BOX presently has an average rating of Moderate Buy and a consensus target price of $32.50.
Insider Buying and Selling at BOX
In other BOX news, CFO Dylan C. Smith sold 13,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 10th. The stock was sold at an average price of $30.49, for a total transaction of $396,370.00. Following the completion of the transaction, the chief financial officer now owns 1,382,137 shares in the company, valued at approximately $42,141,357.13. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In the last ninety days, insiders have sold 39,000 shares of company stock worth $1,089,400. Insiders own 5.20% of the company’s stock.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently modified their holdings of the business. Ensign Peak Advisors Inc grew its stake in shares of BOX by 5.6% in the 1st quarter. Ensign Peak Advisors Inc now owns 39,550 shares of the software maker’s stock worth $1,149,000 after buying an additional 2,080 shares in the last quarter. PDT Partners LLC increased its stake in BOX by 72.1% during the first quarter. PDT Partners LLC now owns 35,921 shares of the software maker’s stock worth $1,044,000 after acquiring an additional 15,046 shares during the last quarter. Captrust Financial Advisors raised its position in BOX by 6.2% during the second quarter. Captrust Financial Advisors now owns 40,262 shares of the software maker’s stock valued at $1,012,000 after purchasing an additional 2,343 shares during the period. Natixis Advisors L.P. lifted its stake in shares of BOX by 36.2% in the 2nd quarter. Natixis Advisors L.P. now owns 30,705 shares of the software maker’s stock valued at $772,000 after purchasing an additional 8,165 shares during the last quarter. Finally, Advisory Services Network LLC purchased a new position in shares of BOX in the 1st quarter worth approximately $606,000. 86.00% of the stock is owned by hedge funds and other institutional investors.
BOX Company Profile
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.
Further Reading
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