BOX (NYSE:BOX – Get Free Report) issued an update on its FY24 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of $1.42-1.43 for the period, compared to the consensus estimate of $1.49. The company issued revenue guidance of $1.037-1.039 billion, compared to the consensus revenue estimate of $1.04 billion. BOX also updated its Q4 guidance to $0.38-0.39 EPS.

BOX Price Performance

Shares of BOX traded up $0.19 during trading hours on Tuesday, hitting $26.69. The stock had a trading volume of 2,770,802 shares, compared to its average volume of 1,512,484. The company’s fifty day moving average is $25.21 and its two-hundred day moving average is $27.53. BOX has a 52 week low of $23.57 and a 52 week high of $34.98. The stock has a market capitalization of $3.84 billion, a price-to-earnings ratio of 139.43, a P/E/G ratio of 15.25 and a beta of 0.93.

Analyst Upgrades and Downgrades

A number of brokerages have commented on BOX. Citigroup decreased their price objective on shares of BOX from $34.00 to $33.00 and set a buy rating on the stock in a report on Wednesday, August 30th. StockNews.com raised shares of BOX from a buy rating to a strong-buy rating in a report on Friday, October 13th. JMP Securities reissued a market outperform rating and set a $32.00 price objective on shares of BOX in a report on Wednesday, August 30th. Craig Hallum lowered shares of BOX from a buy rating to a hold rating in a report on Wednesday, August 30th. Finally, Royal Bank of Canada reissued an underperform rating and set a $21.00 price objective on shares of BOX in a report on Thursday, October 12th. One analyst has rated the stock with a sell rating, one has given a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, BOX currently has an average rating of Moderate Buy and an average price target of $32.25.

View Our Latest Stock Report on BOX

Insider Transactions at BOX

In related news, CEO Aaron Levie sold 10,000 shares of BOX stock in a transaction that occurred on Monday, September 11th. The shares were sold at an average price of $25.70, for a total transaction of $257,000.00. Following the transaction, the chief executive officer now owns 3,068,653 shares of the company’s stock, valued at approximately $78,864,382.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CFO Dylan C. Smith sold 13,000 shares of the business’s stock in a transaction on Monday, September 11th. The shares were sold at an average price of $25.88, for a total value of $336,440.00. Following the sale, the chief financial officer now owns 1,507,165 shares of the company’s stock, valued at $39,005,430.20. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Aaron Levie sold 10,000 shares of the business’s stock in a transaction on Monday, September 11th. The stock was sold at an average price of $25.70, for a total transaction of $257,000.00. Following the completion of the sale, the chief executive officer now directly owns 3,068,653 shares in the company, valued at approximately $78,864,382.10. The disclosure for this sale can be found here. Insiders sold a total of 54,000 shares of company stock worth $1,380,270 in the last quarter. 4.90% of the stock is owned by company insiders.

Hedge Funds Weigh In On BOX

A number of institutional investors have recently added to or reduced their stakes in the company. GTS Securities LLC increased its holdings in BOX by 27.8% during the third quarter. GTS Securities LLC now owns 17,102 shares of the software maker’s stock worth $414,000 after buying an additional 3,723 shares during the last quarter. Mercer Global Advisors Inc. ADV increased its holdings in shares of BOX by 128.8% in the third quarter. Mercer Global Advisors Inc. ADV now owns 28,976 shares of the software maker’s stock valued at $702,000 after purchasing an additional 16,309 shares during the last quarter. The Manufacturers Life Insurance Company increased its holdings in shares of BOX by 34.7% in the third quarter. The Manufacturers Life Insurance Company now owns 77,167 shares of the software maker’s stock valued at $1,868,000 after purchasing an additional 19,896 shares during the last quarter. Legal & General Group Plc increased its holdings in shares of BOX by 0.4% in the third quarter. Legal & General Group Plc now owns 142,336 shares of the software maker’s stock valued at $3,446,000 after purchasing an additional 572 shares during the last quarter. Finally, Ameriprise Financial Inc. increased its holdings in shares of BOX by 12.4% in the third quarter. Ameriprise Financial Inc. now owns 738,473 shares of the software maker’s stock valued at $17,874,000 after purchasing an additional 81,245 shares during the last quarter. 87.90% of the stock is currently owned by institutional investors and hedge funds.

BOX Company Profile (Get Free Report)

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.

Further Reading

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Original: MarketBeat News Feed: BOX (NYSE:BOX) Releases FY24 Earnings Guidance