Box, Inc. (BOX) Updates FY18 Earnings Guidance
Box, Inc. (NYSE:BOX) issued an update on its FY18 earnings guidance on Wednesday morning. The company provided earnings per share guidance of $(0.46)-(0.44) for the period, compared to the Thomson Reuters consensus earnings per share estimate of ($0.46). The company issued revenue guidance of $503-506 million, compared to the consensus revenue estimate of $505.62 million.Box also updated its Q3 guidance to $(0.14)-(0.13) EPS.
Box, Inc. (NYSE BOX) opened at 19.62 on Friday. The company’s market cap is $2.58 billion. Box, Inc. has a 12-month low of $13.50 and a 12-month high of $20.91. The firm has a 50-day moving average price of $19.13 and a 200-day moving average price of $18.09. Box also was the target of unusually large options trading on Wednesday. Stock investors acquired 5,432 put options on the stock. This represents an increase of 882% compared to the typical volume of 553 put options.
Box (NYSE:BOX) last issued its earnings results on Wednesday, August 30th. The software maker reported ($0.11) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.13) by $0.02. Box had a negative return on equity of 207.36% and a negative net margin of 34.11%. The business had revenue of $122.94 million during the quarter, compared to analysts’ expectations of $121.75 million. During the same period in the prior year, the business earned ($0.14) EPS. The business’s revenue for the quarter was up 28.4% compared to the same quarter last year. On average, equities research analysts forecast that Box, Inc. will post ($0.46) earnings per share for the current fiscal year.
BOX has been the subject of several research reports. Pacific Crest reiterated an overweight rating and issued a $25.00 target price on shares of Box in a report on Wednesday, May 31st. Mitsubishi UFJ Financial Group upgraded Box from a neutral rating to an overweight rating and upped their target price for the stock from $17.50 to $23.00 in a report on Thursday, June 1st. Canaccord Genuity reiterated a buy rating and issued a $24.00 target price (up from $22.00) on shares of Box in a report on Thursday, June 1st. Wells Fargo & Company reiterated an outperform rating and issued a $27.00 target price (up from $24.00) on shares of Box in a report on Thursday, June 1st. Finally, Stifel Nicolaus reiterated a hold rating and issued a $17.00 target price (up from $15.00) on shares of Box in a report on Thursday, June 1st. Six research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Box has an average rating of Buy and an average target price of $22.24.
In related news, COO Daniel J. Levin sold 40,000 shares of the company’s stock in a transaction dated Thursday, June 15th. The stock was sold at an average price of $18.28, for a total transaction of $731,200.00. Following the transaction, the chief operating officer now directly owns 3,752 shares of the company’s stock, valued at approximately $68,586.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Fisher Jurvetson Fund V. Draper sold 320,000 shares of the company’s stock in a transaction dated Wednesday, July 5th. The shares were sold at an average price of $18.07, for a total value of $5,782,400.00. The disclosure for this sale can be found here. Insiders have sold a total of 1,748,934 shares of company stock worth $32,700,266 over the last ninety days. 22.30% of the stock is currently owned by corporate insiders.
Box Company Profile
Box, Inc provides an enterprise content management platform that enables organizations of all sizes to manage enterprise content while allowing access and sharing of this content from anywhere, on any device. With the Company’s Software-as-a-Service (SaaS) cloud-based platform, users can collaborate on content both internally and with external parties, automate content-driven business processes, develop custom applications, and implement data protection, security and compliance features to comply with internal policies and industry regulations.
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