BOX (NYSE:BOX) Issues FY 2023 Earnings Guidance

BOX (NYSE:BOXGet Rating) issued an update on its FY 2023 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 $992.00 million-$996.00 million, compared to the consensus revenue estimate of $993.51 million.BOX also updated its Q2 2023 guidance to $0.27-$0.28 EPS.

Shares of BOX stock traded up $0.62 during trading hours on Wednesday, reaching $26.06. 2,339,777 shares of the company’s stock were exchanged, compared to its average volume of 1,808,515. The stock’s fifty day moving average price is $29.25 and its two-hundred day moving average price is $27.01. The stock has a market cap of $3.74 billion, a PE ratio of -74.29 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 released its quarterly earnings data on Wednesday, March 2nd. The software maker reported $0.24 EPS for the quarter, topping the consensus estimate of $0.23 by $0.01. The company had revenue of $233.36 million during the quarter, compared to analysts’ expectations of $228.60 million. During the same quarter in the prior year, the company posted ($0.02) EPS. The company’s revenue for the quarter was up 17.3% on a year-over-year basis. On average, equities analysts expect that BOX will post -0.12 earnings per share for the current fiscal year.

Several research firms recently commented on BOX. KeyCorp increased 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. Oppenheimer reaffirmed an outperform rating and issued a $30.00 target price on shares of BOX in a research note on Friday, March 18th. Craig Hallum raised their target price on BOX from $38.00 to $44.00 in a research note on Thursday, March 3rd. Morgan Stanley lifted their price target on shares of BOX from $30.00 to $32.00 and gave the company an equal weight rating in a research report on Thursday, March 3rd. Finally, JPMorgan Chase & Co. raised shares of BOX from an underweight rating to a neutral rating and boosted their price target for the company from $22.00 to $28.00 in a research note on Thursday, March 3rd. Four investment analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of Buy and a consensus target price of $31.40.

In related news, CFO Dylan C. Smith sold 15,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 10th. The shares were sold at an average price of $29.05, for a total transaction of $435,750.00. Following the completion of the sale, the chief financial officer now directly owns 1,462,315 shares of the company’s stock, valued at $42,480,250.75. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Eli Berkovitch sold 8,000 shares of the company’s 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 disclosure for this sale can be found here. Over the last three months, insiders have sold 38,000 shares of company stock worth $1,091,930. Corporate insiders own 6.20% of the company’s stock.

Several hedge funds have recently bought and sold shares of BOX. Millennium Management LLC increased its position in shares of BOX by 108.1% during the third quarter. Millennium Management LLC now owns 44,336 shares of the software maker’s stock worth $1,049,000 after acquiring an additional 594,526 shares in the last quarter. PDT Partners LLC lifted its stake in BOX by 72.1% during the 1st quarter. PDT Partners LLC now owns 35,921 shares of the software maker’s stock valued at $1,044,000 after acquiring an additional 15,046 shares in the last quarter. Natixis Advisors L.P. boosted its holdings in BOX by 54.5% during the first quarter. Natixis Advisors L.P. now owns 22,540 shares of the software maker’s stock worth $655,000 after purchasing an additional 7,953 shares during the last quarter. Royal Bank of Canada grew its holdings in shares of BOX by 1.6% in the third quarter. Royal Bank of Canada now owns 27,357 shares of the software maker’s stock valued at $648,000 after acquiring an additional 443 shares in the last quarter. Finally, LPL Financial LLC lifted its holdings in BOX by 16.2% during the third quarter. LPL Financial LLC now owns 27,080 shares of the software maker’s stock worth $641,000 after acquiring an additional 3,778 shares during the period. 87.42% of the stock is owned by hedge funds and other 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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Earnings History and Estimates for BOX (NYSE:BOX)

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