Box, Inc. (NYSE:BOX) Expected to Post Quarterly Sales of $234.20 Million

Analysts expect that Box, Inc. (NYSE:BOXGet Rating) will post sales of $234.20 million for the current quarter, according to Zacks Investment Research. Five analysts have issued estimates for BOX’s earnings, with estimates ranging from $234.00 million to $234.53 million. BOX reported sales of $202.44 million in the same quarter last year, which would suggest a positive year over year growth rate of 15.7%. The firm is scheduled to issue its next quarterly earnings results after the market closes on Monday, January 1st.

According to Zacks, analysts expect that BOX will report full year sales of $993.50 million for the current financial year, with estimates ranging from $992.50 million to $994.65 million. For the next fiscal year, analysts expect that the firm will report sales of $1.11 billion, with estimates ranging from $1.09 billion to $1.13 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that that provide coverage for BOX.

BOX (NYSE:BOXGet Rating) last announced its quarterly earnings results on Wednesday, March 2nd. The software maker reported $0.24 EPS for the quarter, topping analysts’ consensus estimates of $0.23 by $0.01. The business had revenue of $233.36 million for the quarter, compared to the consensus estimate of $228.60 million. The firm’s revenue for the quarter was up 17.3% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.02) EPS.

A number of research analysts have commented on the stock. JPMorgan Chase & Co. upgraded shares of BOX from an “underweight” rating to a “neutral” rating and raised their price target for the stock from $22.00 to $28.00 in a research note on Thursday, March 3rd. StockNews.com initiated coverage on shares of BOX in a research note on Thursday, March 31st. They issued a “strong-buy” rating for the company. KeyCorp lifted their target price on shares of BOX from $30.00 to $32.00 and gave the company an “overweight” rating in a research note on Thursday, March 3rd. Morgan Stanley lifted their target price on shares of BOX from $30.00 to $32.00 and gave the company an “equal weight” rating in a research note on Thursday, March 3rd. Finally, Craig Hallum lifted their target price on shares of BOX from $38.00 to $44.00 in a research note on Thursday, March 3rd. Four investment 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. According to data from MarketBeat.com, BOX presently has a consensus rating of “Buy” and an average price target of $31.40.

In other BOX news, VP Eli Berkovitch sold 8,000 shares of BOX stock in a transaction on 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 document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Dylan C. Smith sold 15,000 shares of BOX 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 sale, the chief financial officer now directly owns 1,477,315 shares of the company’s stock, valued at approximately $42,280,755.30. The disclosure for this sale can be found here. In the last three months, insiders 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 added to or reduced their stakes in BOX. Earnest Partners LLC grew its holdings in BOX by 245.5% during the 4th quarter. Earnest Partners LLC now owns 6,460,163 shares of the software maker’s stock worth $169,192,000 after acquiring an additional 4,590,582 shares during the period. Bank of America Corp DE grew its holdings in BOX by 464.4% during the 4th quarter. Bank of America Corp DE now owns 2,284,205 shares of the software maker’s stock worth $59,824,000 after acquiring an additional 1,879,495 shares during the period. Norges Bank acquired a new stake in BOX during the 4th quarter worth $47,321,000. Arrowstreet Capital Limited Partnership acquired a new position in shares of BOX in the 3rd quarter valued at $23,235,000. Finally, American Century Companies Inc. grew its holdings in shares of BOX by 616.9% in the 1st quarter. American Century Companies Inc. now owns 1,133,769 shares of the software maker’s stock valued at $32,947,000 after buying an additional 975,613 shares during the period. 87.42% of the stock is owned by hedge funds and other institutional investors.

Shares of BOX opened at $28.67 on Monday. The stock has a market cap of $4.11 billion, a price-to-earnings ratio of -81.91 and a beta of 1.15. BOX has a 12 month low of $22.18 and a 12 month high of $33.04. The company has a 50-day moving average price of $29.09 and a two-hundred day moving average price of $26.97.

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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