Zacks: Brokerages Anticipate Box, Inc. (NYSE:BOX) Will Post Quarterly Sales of $244.84 Million

Equities research analysts forecast that Box, Inc. (NYSE:BOXGet Rating) will report $244.84 million in sales for the current quarter, Zacks reports. Five analysts have issued estimates for BOX’s earnings, with the highest sales estimate coming in at $245.00 million and the lowest estimate coming in at $244.40 million. BOX reported sales of $214.49 million during the same quarter last year, which would suggest a positive year over year growth rate of 14.1%. The firm is scheduled to announce its next earnings report on Monday, January 1st.

According to Zacks, analysts expect that BOX will report full year sales of $994.44 million for the current fiscal year, with estimates ranging from $993.80 million to $995.67 million. For the next financial year, analysts expect that the business will post sales of $1.11 billion, with estimates ranging from $1.09 billion to $1.12 billion. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that follow BOX.

BOX (NYSE:BOXGet Rating) last released its quarterly earnings data on Wednesday, May 25th. The software maker reported $0.23 EPS for the quarter, missing the consensus estimate of $0.25 by ($0.02). The business had revenue of $238.40 million for the quarter, compared to analyst estimates of $234.48 million. The firm’s revenue was up 17.8% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.07) earnings per share.

A number of equities research analysts have recently issued reports on the stock. JPMorgan Chase & Co. raised shares of BOX from an “underweight” rating to a “neutral” rating and increased their price target for the stock from $22.00 to $28.00 in a report on Thursday, March 3rd. StockNews.com assumed coverage on shares of BOX in a report on Thursday, March 31st. They issued a “strong-buy” rating on the stock. KeyCorp increased their price target on shares of BOX from $30.00 to $32.00 and gave the stock an “overweight” rating in a report on Thursday, March 3rd. Craig Hallum lowered their price target on shares of BOX to $41.00 in a report on Thursday, May 26th. Finally, Morgan Stanley increased their price target on shares of BOX from $30.00 to $32.00 and gave the stock an “equal weight” rating in a report on Thursday, March 3rd. Four investment analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, BOX has an average rating of “Buy” and an average target price of $31.10.

In other BOX news, VP Eli Berkovitch sold 8,000 shares of the stock in a transaction that occurred on Monday, March 28th. The shares were sold at an average price of $28.36, for a total transaction of $226,880.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Dylan C. Smith sold 15,000 shares of the stock in a transaction that occurred on Tuesday, May 10th. The shares were sold at an average price of $29.05, for a total transaction of $435,750.00. Following the transaction, the chief financial officer now owns 1,462,315 shares in the company, valued at $42,480,250.75. The disclosure for this sale can be found here. Insiders have sold 38,000 shares of company stock worth $1,091,930 over the last quarter. Company insiders own 6.20% of the company’s stock.

Institutional investors have recently modified their holdings of the company. Envestnet Asset Management Inc. grew its holdings in shares of BOX by 378.5% in the fourth quarter. Envestnet Asset Management Inc. now owns 73,437 shares of the software maker’s stock worth $1,923,000 after purchasing an additional 58,089 shares during the last quarter. Ensign Peak Advisors Inc purchased a new stake in BOX in the fourth quarter worth $981,000. California State Teachers Retirement System lifted its stake in BOX by 3.6% in the third quarter. California State Teachers Retirement System now owns 210,163 shares of the software maker’s stock worth $4,975,000 after acquiring an additional 7,222 shares during the period. Sunriver Management LLC lifted its stake in BOX by 37.7% in the third quarter. Sunriver Management LLC now owns 1,755,663 shares of the software maker’s stock worth $41,557,000 after acquiring an additional 480,919 shares during the period. Finally, Divisar Capital Management LLC lifted its stake in BOX by 22.5% in the third quarter. Divisar Capital Management LLC now owns 217,448 shares of the software maker’s stock worth $5,147,000 after acquiring an additional 40,000 shares during the period. Hedge funds and other institutional investors own 87.42% of the company’s stock.

NYSE BOX opened at $27.24 on Monday. The company has a market cap of $3.91 billion, a PE ratio of -85.13 and a beta of 1.16. BOX has a 52 week low of $22.18 and a 52 week high of $33.04. The firm’s 50-day simple moving average is $29.06 and its two-hundred day simple moving average is $27.05.

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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Earnings History and Estimates for BOX (NYSE:BOX)

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