BOX (NYSE:BOX) Updates Q3 Earnings Guidance

BOX (NYSE:BOX) issued an update on its third quarter earnings guidance on Wednesday morning. The company provided earnings per share guidance of ($0.01)-0.00 for the period, compared to the Thomson Reuters consensus earnings per share estimate of ($0.01). The company issued revenue guidance of $174-175 million, compared to the consensus revenue estimate of $174.53 million.BOX also updated its FY 2020 guidance to $0.00-0.02 EPS.

Shares of BOX stock traded up $0.15 during midday trading on Wednesday, reaching $13.83. 3,939,439 shares of the company traded hands, compared to its average volume of 2,156,246. The firm’s 50 day simple moving average is $15.35 and its two-hundred day simple moving average is $18.65. BOX has a 1-year low of $12.76 and a 1-year high of $25.40. The company has a debt-to-equity ratio of 10.68, a current ratio of 0.83 and a quick ratio of 0.83. The firm has a market cap of $1.97 billion, a PE ratio of -14.41 and a beta of 1.36.

BOX (NYSE:BOX) last issued its quarterly earnings data on Monday, June 3rd. The software maker reported ($0.03) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.05) by $0.02. BOX had a negative net margin of 21.37% and a negative return on equity of 446.05%. The business had revenue of $163.00 million during the quarter, compared to analysts’ expectations of $161.46 million. During the same period last year, the company posted ($0.07) EPS. The company’s revenue was up 16.0% on a year-over-year basis. As a group, research analysts anticipate that BOX will post -0.96 earnings per share for the current fiscal year.

A number of research analysts have recently weighed in on the stock. Morgan Stanley set a $17.00 price objective on shares of BOX and gave the stock a hold rating in a research note on Tuesday, June 4th. William Blair reissued an outperform rating on shares of BOX in a research note on Tuesday, June 4th. Canaccord Genuity cut shares of BOX from a buy rating to a hold rating and dropped their price objective for the stock from $24.00 to $16.00 in a research note on Tuesday, June 4th. Zacks Investment Research raised shares of BOX from a hold rating to a buy rating and set a $18.00 price objective for the company in a research note on Thursday, June 6th. Finally, Craig Hallum reissued a buy rating and set a $22.00 price objective (down from $27.00) on shares of BOX in a research note on Tuesday, June 4th. Six equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. The company presently has an average rating of Buy and a consensus target price of $21.04.

In related news, CFO Dylan C. Smith sold 15,000 shares of the business’s stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $18.02, for a total transaction of $270,300.00. Following the completion of the sale, the chief financial officer now owns 1,084,280 shares of the company’s stock, valued at approximately $19,538,725.60. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Josh Stein sold 20,000 shares of the business’s stock in a transaction dated Monday, June 17th. The shares were sold at an average price of $18.19, for a total transaction of $363,800.00. Following the sale, the director now directly owns 3,699 shares of the company’s stock, valued at approximately $67,284.81. The disclosure for this sale can be found here. Insiders own 6.70% of the company’s stock.

BOX Company Profile

Box, Inc provides a cloud content management platform that enables organizations of various sizes to manage and share their content from anywhere or 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.

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Earnings History and Estimates for BOX (NYSE:BOX)

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