BOX (NYSE:BOX – Get Rating) issued an update on its second quarter earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of $0.27-$0.28 for the period, compared to the consensus estimate of $0.27. The company issued revenue guidance of $244-$246 million, compared to the consensus revenue estimate of $243.32 million.BOX also updated its FY 2023 guidance to $1.11-$1.15 EPS.
Several research analysts have recently weighed in on BOX shares. Craig Hallum increased their price target on BOX from $38.00 to $44.00 in a research note on Thursday, March 3rd. JPMorgan Chase & Co. upgraded shares of BOX from an underweight rating to a neutral rating and lifted their target price for the stock from $22.00 to $28.00 in a research note on Thursday, March 3rd. KeyCorp boosted their price target on shares of BOX from $30.00 to $32.00 and gave the company an overweight rating in a research report on Thursday, March 3rd. StockNews.com started coverage on shares of BOX in a report on Thursday, March 31st. They issued a strong-buy rating for the company. Finally, Morgan Stanley boosted their target price on shares of BOX from $30.00 to $32.00 and gave the company an equal weight rating in a report on Thursday, March 3rd. Four investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of Buy and a consensus price target of $31.40.
Shares of BOX stock traded up $0.62 during trading on Wednesday, hitting $26.06. The stock had a trading volume of 2,311,070 shares, compared to its average volume of 1,808,515. The firm has a market cap of $3.74 billion, a price-to-earnings ratio of -74.46 and a beta of 1.15. BOX has a 12 month low of $22.18 and a 12 month high of $33.04. The business’s 50-day moving average is $29.25 and its 200 day moving average is $27.01.
In other BOX news, CFO Dylan C. Smith sold 15,000 shares of the firm’s stock in a transaction dated Monday, April 11th. The shares were sold at an average price of $28.62, for a total value of $429,300.00. Following the completion of the sale, the chief financial officer now directly owns 1,477,315 shares in the company, valued at $42,280,755.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Eli Berkovitch sold 8,000 shares of the firm’s stock in a transaction dated Monday, March 28th. The stock was sold at an average price of $28.36, for a total transaction of $226,880.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 38,000 shares of company stock worth $1,091,930. 6.20% of the stock is currently owned by insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in BOX. Royal Bank of Canada boosted its position in shares of BOX by 1.6% in the 3rd quarter. Royal Bank of Canada now owns 27,357 shares of the software maker’s stock worth $648,000 after purchasing an additional 443 shares in the last quarter. Fairfield Bush & CO. purchased a new stake in shares of BOX in the first quarter worth $29,000. Mackenzie Financial Corp increased its holdings in shares of BOX by 8.9% during the fourth quarter. Mackenzie Financial Corp now owns 15,400 shares of the software maker’s stock valued at $403,000 after acquiring an additional 1,255 shares in the last quarter. Ensign Peak Advisors Inc increased its holdings in shares of BOX by 5.6% during the first quarter. Ensign Peak Advisors Inc now owns 39,550 shares of the software maker’s stock valued at $1,149,000 after acquiring an additional 2,080 shares in the last quarter. Finally, Renaissance Group LLC increased its holdings in shares of BOX by 6.3% during the first quarter. Renaissance Group LLC now owns 61,269 shares of the software maker’s stock valued at $1,780,000 after acquiring an additional 3,613 shares in the last quarter. 87.42% of the stock is owned by institutional investors and hedge funds.
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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