Box, Inc. (BOX) is gearing up to unveil its second-quarter earnings after the market closes on Tuesday, August 27. Analysts are anticipating a robust performance from the Redwood City, California-based company, projecting earnings of 40 cents per share, a significant increase from the 36 cents per share recorded in the same period last year. Box is also expected to report quarterly revenue of $269.18 million, according to data from Benzinga Pro.
Adding to the positive news, Box recently appointed Tricia Gellman as its Chief Marketing Officer on August 15. This appointment highlights the company’s commitment to bolstering its marketing efforts and further strengthening its position in the market. Box shares closed at $28.66 on Monday, demonstrating a slight uptick of 0.7%.
In anticipation of the earnings release, it’s crucial to examine what Wall Street’s most accurate analysts have to say about Box stock. Let’s delve into their recent ratings and price targets:
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Morgan Stanley:
Analyst Josh Baer maintained an Equal-Weight rating and reduced the price target from $32 to $30 on May 29. Baer, who boasts a 65% accuracy rate, appears to be somewhat cautious on Box’s future prospects.*
JMP Securities:
Analyst Erik Suppiger reiterated a Market Outperform rating with a price target of $32 on March 20. Suppiger’s accuracy rate stands at 76%, indicating a higher level of confidence in Box’s performance.*
Citigroup:
Analyst Steven Enders maintained a Buy rating and increased the price target from $29 to $32 on March 6. Enders, with a 68% accuracy rate, seems optimistic about Box’s potential for growth.*
JP Morgan:
Analyst Pinjalim Bora maintained an Overweight rating and raised the price target from $31 to $32 on March 6. Bora, who has a 60% accuracy rate, shares a similar bullish sentiment on Box.*
Raymond James:
Analyst Brian Peterson maintained an Outperform rating but lowered the price target from $33 to $30 on December 6, 2023. Peterson, with a 70% accuracy rate, is slightly more cautious than some of the other analysts.Overall, while there is some divergence in price targets, analysts generally have a positive outlook on Box’s future performance. The company’s upcoming earnings release will provide further insight into their progress and offer a clearer picture of their growth trajectory.
