BOX (NYSE:BOX) Releases Q2 2023 Earnings Guidance

BOX (NYSE:BOXGet Rating) issued an update on its second quarter 2023 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of $0.27-$0.28 for the period, compared to the consensus estimate of $0.27. The company issued revenue guidance of $244.00 million-$246.00 million, compared to the consensus revenue estimate of $243.74 million.BOX also updated its FY 2023 guidance to $1.11-$1.15 EPS.

BOX stock traded up $0.62 during mid-day trading on Wednesday, hitting $26.06. The stock had a trading volume of 2,339,777 shares, compared to its average volume of 1,808,515. BOX has a 1-year low of $22.18 and a 1-year high of $33.04. The company has a fifty day moving average of $29.25 and a 200 day moving average of $27.01. The stock has a market capitalization of $3.74 billion, a price-to-earnings ratio of -74.29 and a beta of 1.15.

BOX (NYSE:BOXGet Rating) last issued its earnings results on Wednesday, March 2nd. The software maker reported $0.24 earnings per share for the quarter, topping the consensus estimate of $0.23 by $0.01. The firm had revenue of $233.36 million during the quarter, compared to analyst estimates of $228.60 million. During the same period in the previous year, the company earned ($0.02) earnings per share. The business’s revenue for the quarter was up 17.3% on a year-over-year basis. As a group, equities analysts anticipate that BOX will post -0.12 earnings per share for the current year.

BOX has been the topic of a number of analyst reports. Craig Hallum increased their price objective on BOX from $38.00 to $44.00 in a report on Thursday, March 3rd. KeyCorp increased their price objective on BOX from $30.00 to $32.00 and gave the company an overweight rating in a report on Thursday, March 3rd. JPMorgan Chase & Co. raised BOX from an underweight rating to a neutral rating and increased their price objective for the company from $22.00 to $28.00 in a report on Thursday, March 3rd. StockNews.com assumed coverage on BOX in a report on Thursday, March 31st. They set a strong-buy rating on the stock. Finally, Oppenheimer reaffirmed an outperform rating and issued a $30.00 target price on shares of BOX in a report on Friday, March 18th. Four equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of Buy and an average price target of $31.40.

In other news, VP Eli Berkovitch sold 8,000 shares of the stock in a transaction on Monday, March 28th. The shares were sold at an average price of $28.36, for a total value of $226,880.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Dylan C. Smith sold 15,000 shares of the stock in a transaction 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 transaction, the chief financial officer now owns 1,462,315 shares of the company’s stock, valued at approximately $42,480,250.75. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 38,000 shares of company stock valued at $1,091,930. Corporate insiders own 6.20% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the company. Fairfield Bush & CO. bought a new stake in shares of BOX in the 1st quarter worth about $29,000. Cambridge Investment Research Advisors Inc. bought a new stake in BOX during the 1st quarter worth about $206,000. Prelude Capital Management LLC bought a new stake in BOX during the 1st quarter worth about $284,000. Virtu Financial LLC bought a new stake in BOX during the 4th quarter worth about $401,000. Finally, Mackenzie Financial Corp grew its holdings in BOX by 8.9% during the 4th quarter. Mackenzie Financial Corp now owns 15,400 shares of the software maker’s stock worth $403,000 after acquiring an additional 1,255 shares during the last quarter. 87.42% of the stock is currently owned by institutional investors and hedge funds.

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.

See Also

Earnings History and Estimates for BOX (NYSE:BOX)

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