KeyCorp Analysts Cut Earnings Estimates for Box, Inc. (NYSE:BOX)

Box, Inc. (NYSE:BOX) – Investment analysts at KeyCorp cut their Q1 2023 earnings per share (EPS) estimates for BOX in a report issued on Tuesday, January 11th. KeyCorp analyst S. Enders now forecasts that the software maker will post earnings per share of ($0.09) for the quarter, down from their prior forecast of ($0.08). KeyCorp has a “Overweight” rating and a $30.00 price target on the stock. KeyCorp also issued estimates for BOX’s Q3 2023 earnings at ($0.02) EPS, FY2023 earnings at ($0.17) EPS and FY2024 earnings at $0.05 EPS.

A number of other equities research analysts also recently issued reports on BOX. Craig Hallum upped their price target on shares of BOX from $31.00 to $38.00 and gave the company a “buy” rating in a research note on Wednesday, December 1st. Zacks Investment Research downgraded shares of BOX from a “buy” rating to a “hold” rating and set a $27.00 price target on the stock. in a research note on Tuesday, November 16th. Berenberg Bank upped their price target on shares of BOX from $30.00 to $34.00 and gave the company a “buy” rating in a research note on Thursday, December 2nd. Morgan Stanley upped their price target on shares of BOX from $29.00 to $30.00 and gave the company an “equal weight” rating in a research note on Wednesday, December 1st. Finally, JMP Securities raised shares of BOX from a “market perform” rating to an “outperform” rating and set a $32.00 price target on the stock in a research note on Monday, September 27th. Four equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, BOX presently has an average rating of “Buy” and a consensus target price of $29.20.

BOX stock opened at $25.85 on Friday. BOX has a one year low of $16.85 and a one year high of $28.13. The company’s fifty day moving average price is $25.74 and its 200-day moving average price is $25.20. The company has a debt-to-equity ratio of 3.33, a quick ratio of 1.58 and a current ratio of 1.58. The company has a market capitalization of $3.83 billion, a PE ratio of -80.78 and a beta of 1.32.

BOX (NYSE:BOX) last released its earnings results on Tuesday, November 30th. The software maker reported $0.22 EPS for the quarter, topping the consensus estimate of $0.21 by $0.01. BOX had a negative net margin of 5.01% and a negative return on equity of 48.70%. The firm had revenue of $224.04 million for the quarter, compared to the consensus estimate of $218.62 million. During the same quarter in the previous year, the firm earned ($0.03) earnings per share. The company’s quarterly revenue was up 14.3% compared to the same quarter last year.

Several institutional investors have recently made changes to their positions in BOX. Allianz Asset Management GmbH raised its position in shares of BOX by 1,360.9% in the 2nd quarter. Allianz Asset Management GmbH now owns 1,825,961 shares of the software maker’s stock valued at $46,653,000 after purchasing an additional 1,700,968 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of BOX by 1,815.6% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 1,387,380 shares of the software maker’s stock valued at $35,448,000 after purchasing an additional 1,314,955 shares during the last quarter. JPMorgan Chase & Co. raised its position in shares of BOX by 118.2% in the 2nd quarter. JPMorgan Chase & Co. now owns 2,168,639 shares of the software maker’s stock valued at $55,409,000 after purchasing an additional 1,174,917 shares during the last quarter. Arrowstreet Capital Limited Partnership purchased a new position in shares of BOX in the 3rd quarter valued at approximately $23,235,000. Finally, Freshford Capital Management LLC raised its position in BOX by 79.0% during the 2nd quarter. Freshford Capital Management LLC now owns 2,135,221 shares of the software maker’s stock worth $54,554,000 after buying an additional 942,358 shares during the last quarter. 79.77% of the stock is owned by hedge funds and other institutional investors.

In related news, CFO Dylan C. Smith sold 15,000 shares of the stock in a transaction that occurred on Wednesday, November 10th. The shares were sold at an average price of $26.45, for a total value of $396,750.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Kimberly Hammonds sold 2,773 shares of the stock in a transaction that occurred on Tuesday, October 19th. The shares were sold at an average price of $26.00, for a total transaction of $72,098.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 248,080 shares of company stock valued at $6,681,589. Insiders own 6.20% of the company’s stock.

About BOX

Box, Inc engages in the provision of enterprise content platform that enables organizations to securely manage enterprise content while allowing easy, secure access and sharing of this content from anywhere, on any device. Its products include cloud content management, IT and admin controls, box governance, box zones, box relay, box shuttle, box keysafe and automations.

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Earnings History and Estimates for BOX (NYSE:BOX)

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