BOX (NYSE:BOX) Releases FY 2022 Earnings Guidance

BOX (NYSE:BOX) updated its FY 2022 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of $0.790-$0.810 for the period, compared to the Thomson Reuters consensus estimate of $0.780. The company issued revenue guidance of $856 million-$860 million, compared to the consensus revenue estimate of $852.55 million.BOX also updated its Q3 2022 guidance to $0.200-$0.210 EPS.

Several research firms have recently issued reports on BOX. Royal Bank of Canada started coverage on BOX in a research note on Wednesday, July 21st. They issued an underperform rating and a $19.00 price objective for the company. Raymond James increased their target price on shares of BOX from $27.00 to $29.00 and gave the company an outperform rating in a research report on Thursday, August 26th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of Buy and an average target price of $24.33.

NYSE:BOX opened at $25.24 on Friday. The company has a market capitalization of $3.83 billion, a PE ratio of -109.73 and a beta of 1.27. The company has a 50 day simple moving average of $24.52 and a two-hundred day simple moving average of $23.80. The company has a debt-to-equity ratio of 3.33, a quick ratio of 1.78 and a current ratio of 1.78. BOX has a fifty-two week low of $15.07 and a fifty-two week high of $27.41.

BOX (NYSE:BOX) last posted its quarterly earnings results on Tuesday, August 24th. The software maker reported $0.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.19 by $0.02. The firm had revenue of $214.50 million for the quarter, compared to analysts’ expectations of $213.01 million. BOX had a negative return on equity of 48.70% and a negative net margin of 4.13%. The company’s revenue for the quarter was up 11.5% compared to the same quarter last year. During the same period in the prior year, the business earned $0.18 EPS. Research analysts predict that BOX will post -0.29 EPS for the current year.

In related news, Director Kimberly Hammonds sold 14,889 shares of the stock in a transaction on Tuesday, August 31st. The stock was sold at an average price of $25.77, for a total value of $383,689.53. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Dylan C. Smith sold 15,000 shares of the stock in a transaction on Friday, September 10th. The stock was sold at an average price of $23.59, for a total value of $353,850.00. Following the completion of the transaction, the chief financial officer now owns 1,182,900 shares in the company, valued at $27,904,611. The disclosure for this sale can be found here. Insiders have sold a total of 59,889 shares of company stock worth $1,490,090 over the last 90 days. Company insiders own 6.20% of the company’s stock.

An institutional investor recently raised its position in BOX stock. Morgan Stanley raised its stake in shares of Box, Inc. (NYSE:BOX) by 23.6% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,615,252 shares of the software maker’s stock after acquiring an additional 500,169 shares during the period. Morgan Stanley owned about 1.61% of BOX worth $66,819,000 as of its most recent SEC filing. Institutional investors own 78.88% of the company’s stock.

BOX Company Profile

Box, Inc engages in the provision of enterprise content platform that enables organizations to securely manage enterprise content while allowing easy, secure access and sharing of this content from anywhere, on any device. Its products include cloud content management, IT and admin controls, box governance, box zones, box relay, box shuttle, box keysafe and automations.

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Earnings History and Estimates for BOX (NYSE:BOX)

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