Zacks: Brokerages Anticipate Box, Inc. (BOX) Will Post Quarterly Sales of $128.38 Million
Analysts forecast that Box, Inc. (NYSE:BOX) will post sales of $128.38 million for the current quarter, Zacks reports. Five analysts have issued estimates for Box’s earnings. The highest sales estimate is $128.90 million and the lowest is $128.00 million. Box posted sales of $102.81 million during the same quarter last year, which suggests a positive year-over-year growth rate of 24.9%. The business is expected to report its next quarterly earnings report on Wednesday, November 29th.
According to Zacks, analysts expect that Box will report full-year sales of $128.38 million for the current financial year, with estimates ranging from $504.49 million to $506.00 million. For the next financial year, analysts anticipate that the business will post sales of $623.10 million per share, with estimates ranging from $612.23 million to $636.60 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side analysts that cover Box.
Box (NYSE:BOX) last issued its quarterly earnings data on Wednesday, August 30th. The software maker reported ($0.11) EPS for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.02. The firm had revenue of $122.94 million for the quarter, compared to analyst estimates of $121.75 million. Box had a negative net margin of 34.11% and a negative return on equity of 207.36%. The firm’s revenue was up 28.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.14) EPS.
BOX has been the subject of a number of analyst reports. BidaskClub downgraded shares of Box from a “buy” rating to a “hold” rating in a report on Tuesday, August 1st. ValuEngine raised shares of Box from a “sell” rating to a “hold” rating in a report on Friday, June 2nd. Mitsubishi UFJ Financial Group raised shares of Box to an “overweight” rating in a report on Thursday. Mitsubishi UFJ Financial Group Inc raised shares of Box from a “neutral” rating to an “overweight” rating in a report on Thursday, June 1st. Finally, Drexel Hamilton reissued a “buy” rating and set a $28.00 price target on shares of Box in a report on Tuesday, June 27th. Six analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $22.24.
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In related news, President Daniel J. Levin sold 20,000 shares of the company’s stock in a transaction dated Tuesday, August 15th. The shares were sold at an average price of $18.60, for a total value of $372,000.00. Following the transaction, the president now directly owns 3,752 shares in the company, valued at $69,787.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Rory O’driscoll sold 671,186 shares of the company’s stock in a transaction dated Thursday, June 15th. The shares were sold at an average price of $18.48, for a total transaction of $12,403,517.28. The disclosure for this sale can be found here. Insiders sold 1,748,934 shares of company stock worth $32,700,266 over the last 90 days. 22.30% of the stock is currently owned by corporate insiders.
Large investors have recently made changes to their positions in the company. Ameritas Investment Partners Inc. increased its stake in shares of Box by 81.3% in the second quarter. Ameritas Investment Partners Inc. now owns 6,896 shares of the software maker’s stock worth $126,000 after buying an additional 3,092 shares during the last quarter. Advisory Services Network LLC bought a new position in Box during the first quarter worth approximately $142,000. Hillsdale Investment Management Inc. bought a new position in Box during the second quarter worth approximately $155,000. Two Sigma Securities LLC bought a new position in Box during the first quarter worth approximately $177,000. Finally, BNP Paribas Arbitrage SA boosted its position in Box by 843.7% in the second quarter. BNP Paribas Arbitrage SA now owns 9,786 shares of the software maker’s stock worth $178,000 after buying an additional 8,749 shares during the period. Hedge funds and other institutional investors own 57.81% of the company’s stock.
Shares of Box (NYSE BOX) traded down 2.85% during midday trading on Friday, hitting $19.06. 3,050,383 shares of the stock were exchanged. The stock’s 50 day moving average is $19.14 and its 200 day moving average is $18.09. Box has a 12-month low of $13.50 and a 12-month high of $20.91. The firm’s market cap is $2.51 billion. Box also saw unusually large options trading activity on Wednesday. Stock traders bought 5,432 put options on the company. This is an increase of 882% compared to the average daily volume of 553 put options.
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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