BOX (NYSE:BOX) Announces Quarterly Earnings Results

BOX (NYSE:BOXGet Rating) released its earnings results on Wednesday. The software maker reported $0.23 earnings per share for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.02), MarketWatch Earnings reports. The firm had revenue of $238.40 million during the quarter, compared to the consensus estimate of $234.48 million. The firm’s revenue was up 17.8% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.07) EPS.

NYSE:BOX opened at $26.06 on Thursday. BOX has a 1 year low of $22.18 and a 1 year high of $33.04. The stock has a market cap of $3.74 billion, a price-to-earnings ratio of -74.46 and a beta of 1.15. The stock has a 50-day moving average price of $29.23 and a two-hundred day moving average price of $27.00.

A number of research firms have recently weighed in on BOX. JPMorgan Chase & Co. upgraded BOX from an “underweight” rating to a “neutral” rating and boosted their target price for the stock from $22.00 to $28.00 in a research report on Thursday, March 3rd. Oppenheimer restated an “outperform” rating and set a $30.00 target price on shares of BOX in a research report on Friday, March 18th. Craig Hallum boosted their target price on BOX from $38.00 to $44.00 in a research report on Thursday, March 3rd. KeyCorp boosted their target price on BOX from $30.00 to $32.00 and gave the stock an “overweight” rating in a research report on Thursday, March 3rd. Finally, Morgan Stanley boosted their target price on BOX from $30.00 to $32.00 and gave the stock an “equal weight” rating in a research report on Thursday, March 3rd. Four 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 MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $31.40.

In other news, VP Eli Berkovitch sold 8,000 shares of the business’s stock in a transaction dated Monday, March 28th. The stock was sold at an average price of $28.36, for a total value of $226,880.00. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Dylan C. Smith sold 15,000 shares of the business’s stock in a transaction dated Tuesday, May 10th. The shares were sold at an average price of $29.05, for a total value of $435,750.00. Following the completion of the sale, the chief financial officer now owns 1,462,315 shares in the company, valued at $42,480,250.75. The disclosure for this sale can be found here. Over the last three months, insiders sold 38,000 shares of company stock valued at $1,091,930. Insiders own 6.20% of the company’s stock.

Institutional investors have recently modified their holdings of the company. Fairfield Bush & CO. bought a new stake in shares of BOX in the first quarter valued at about $29,000. Cambridge Investment Research Advisors Inc. bought a new stake in BOX during the first quarter worth about $206,000. Prelude Capital Management LLC bought a new stake in BOX during the first quarter worth about $284,000. Virtu Financial LLC bought a new stake in BOX during the fourth quarter worth about $401,000. Finally, Mackenzie Financial Corp raised its holdings in BOX by 8.9% during the fourth 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 in the last quarter. Institutional investors own 87.42% of the company’s stock.

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.

Recommended Stories

Earnings History for BOX (NYSE:BOX)

Receive News & Ratings for BOX Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for BOX and related companies with MarketBeat.com's FREE daily email newsletter.