BOX (NYSE:BOX) Posts Quarterly Earnings Results, Beats Expectations By $0.04 EPS

BOX (NYSE:BOX) announced its quarterly earnings results on Tuesday. The software maker reported $0.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.40 by $0.04, Briefing.com reports. BOX had a negative return on equity of 11.71% and a net margin of 13.13%. The firm had revenue of $270.04 million during the quarter, compared to the consensus estimate of $269.52 million. During the same period in the prior year, the company posted $0.01 earnings per share. The firm’s quarterly revenue was up 3.3% compared to the same quarter last year.

BOX Trading Up 0.6 %

NYSE BOX opened at $28.82 on Wednesday. The business’s 50-day moving average price is $26.92 and its 200 day moving average price is $27.01. BOX has a twelve month low of $23.29 and a twelve month high of $30.94. The company has a market capitalization of $4.16 billion, a PE ratio of 39.48 and a beta of 0.86.

Insider Activity

In other BOX news, VP Eli Berkovitch sold 3,300 shares of the business’s stock in a transaction dated Friday, June 14th. The stock was sold at an average price of $25.90, for a total transaction of $85,470.00. Following the completion of the sale, the vice president now owns 152,372 shares of the company’s stock, valued at $3,946,434.80. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, VP Eli Berkovitch sold 3,300 shares of the company’s stock in a transaction on Friday, June 14th. The shares were sold at an average price of $25.90, for a total transaction of $85,470.00. Following the completion of the sale, the vice president now directly owns 152,372 shares of the company’s stock, valued at approximately $3,946,434.80. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Dylan C. Smith sold 13,000 shares of the company’s stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $27.05, for a total value of $351,650.00. Following the completion of the sale, the chief financial officer now directly owns 1,513,661 shares of the company’s stock, valued at approximately $40,944,530.05. The disclosure for this sale can be found here. Insiders sold a total of 59,560 shares of company stock valued at $1,556,440 in the last 90 days. 4.10% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

BOX has been the subject of a number of research reports. StockNews.com upgraded BOX from a “buy” rating to a “strong-buy” rating in a research note on Thursday, August 15th. Monness Crespi & Hardt raised BOX to a “hold” rating in a research note on Friday, August 16th. UBS Group lowered their target price on BOX from $34.00 to $31.00 and set a “buy” rating on the stock in a research note on Wednesday, May 29th. Royal Bank of Canada restated an “underperform” rating and set a $21.00 price target on shares of BOX in a research note on Wednesday, May 29th. Finally, Morgan Stanley cut their price objective on shares of BOX from $32.00 to $30.00 and set an “equal weight” rating for the company in a research report on Wednesday, May 29th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $30.33.

About BOX

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 work with their content as they need from secure external collaboration and sharing, workspaces and portals, e-signature processes, and content workflows improving employee productivity and accelerating business processes.