On Tuesday, Box reported quarterly earnings of 42 cents per share, which met the analyst consensus estimate. Quarterly revenue was $280 million (up from $262.87 million a year ago), which beat the analyst consensus estimate of $279.42 million.
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Box expects first-quarter earnings of 25 cents-26 cents, versus the 43-cent estimate, and revenue of $274 million-$275 million, versus the $279.5 million estimate.
Wall Street firms rerated Box Inc (NYSE:BOX) after its fourth-quarter report:
- JP Morgan analyst Pinjalim Bora maintained Box with an Overweight and lowered the price target from $38 to $37.
- Raymond James analyst Brian Peterson reiterated an Outperform on Box with a price target of $38, down from $40.
JP Morgan: Box delivered a good end to the year, with forward-looking metrics coming in ahead of guidance and consensus expectations, driven by a solid bookings cadence in addition to a higher volume of early renewals in the quarter. Specifically, calculated billings grew 7% in CC, marking an acceleration relative to last quarter and landing ahead of guidance of …
