Zacks: Brokerages Expect Box Inc (BOX) Will Announce Quarterly Sales of $136.71 Million

Brokerages expect that Box Inc (NYSE:BOX) will report sales of $136.71 million for the current fiscal quarter, Zacks reports. Five analysts have issued estimates for BOX’s earnings, with the lowest sales estimate coming in at $136.40 million and the highest estimate coming in at $137.10 million. BOX reported sales of $109.93 million during the same quarter last year, which indicates a positive year-over-year growth rate of 24.4%. The company is expected to report its next quarterly earnings results after the market closes on Wednesday, February 28th.

On average, analysts expect that BOX will report full-year sales of $136.71 million for the current fiscal year, with estimates ranging from $505.65 million to $506.60 million. For the next year, analysts anticipate that the company will post sales of $624.62 million per share, with estimates ranging from $614.53 million to $650.50 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research firms that cover BOX.

BOX (NYSE:BOX) last posted its earnings results on Wednesday, November 29th. The software maker reported ($0.13) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.13). The company had revenue of $129.30 million during the quarter, compared to analyst estimates of $128.67 million. BOX had a negative return on equity of 313.90% and a negative net margin of 33.20%. BOX’s revenue was up 25.8% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.14) earnings per share.

BOX has been the subject of a number of analyst reports. Vetr lowered BOX from a “strong-buy” rating to a “buy” rating and set a $24.14 target price for the company. in a report on Thursday. DA Davidson initiated coverage on BOX in a report on Thursday. They set a “buy” rating and a $25.00 target price for the company. Canaccord Genuity restated a “buy” rating and set a $25.00 target price on shares of BOX in a report on Thursday, November 30th. Oppenheimer restated a “buy” rating and set a $24.00 target price on shares of BOX in a report on Thursday, November 30th. Finally, Drexel Hamilton restated a “buy” rating and set a $28.00 target price on shares of BOX in a report on Monday, November 27th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and sixteen have given a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $24.21.

In related news, Director Rory O’driscoll sold 600,000 shares of the company’s stock in a transaction on Tuesday, December 5th. The stock was sold at an average price of $20.50, for a total value of $12,300,000.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Dana L. Evan sold 7,500 shares of the company’s stock in a transaction on Wednesday, January 3rd. The shares were sold at an average price of $21.65, for a total value of $162,375.00. Following the completion of the transaction, the director now directly owns 21,399 shares in the company, valued at $463,288.35. The disclosure for this sale can be found here. In the last quarter, insiders have sold 2,065,309 shares of company stock valued at $43,227,222. Company insiders own 22.30% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its position in shares of BOX by 79.0% in the 2nd quarter. Vanguard Group Inc. now owns 7,977,960 shares of the software maker’s stock valued at $145,518,000 after acquiring an additional 3,521,030 shares during the period. Bares Capital Management Inc. increased its position in shares of BOX by 10.1% in the 3rd quarter. Bares Capital Management Inc. now owns 6,391,461 shares of the software maker’s stock valued at $123,483,000 after acquiring an additional 588,875 shares during the period. BlackRock Inc. increased its position in shares of BOX by 9.6% in the 4th quarter. BlackRock Inc. now owns 5,935,806 shares of the software maker’s stock valued at $125,362,000 after acquiring an additional 518,179 shares during the period. Millennium Management LLC increased its position in shares of BOX by 16.7% in the 4th quarter. Millennium Management LLC now owns 4,314,184 shares of the software maker’s stock valued at $91,116,000 after acquiring an additional 616,044 shares during the period. Finally, First Trust Advisors LP increased its position in shares of BOX by 2.6% in the 4th quarter. First Trust Advisors LP now owns 3,851,389 shares of the software maker’s stock valued at $81,341,000 after acquiring an additional 99,309 shares during the period. 62.02% of the stock is currently owned by hedge funds and other institutional investors.

BOX (NYSE:BOX) traded down $0.04 during trading on Monday, reaching $22.12. The company’s stock had a trading volume of 1,015,466 shares, compared to its average volume of 1,219,601. The company has a debt-to-equity ratio of 2.53, a quick ratio of 1.00 and a current ratio of 1.00. The stock has a market capitalization of $3,016.89, a price-to-earnings ratio of -18.43 and a beta of 1.20. BOX has a one year low of $15.73 and a one year high of $24.10.

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BOX Company Profile

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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