BOX (NYSE:BOX) Announces Quarterly Earnings Results

BOX (NYSE:BOX – Get 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.

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