In the latest trading session, Box (BOX) closed at $19.03, marking a +1.12% move from the previous day. The stock outpaced the S&P 500’s daily gain of 0.91%. Elsewhere, the Dow gained 0.85%, while the tech-heavy Nasdaq added 0.59%.
Prior to today’s trading, shares of the online storage provider had lost 0.79% over the past month. This has lagged the Computer and Technology sector’s gain of 8.52% and the S&P 500’s gain of 5.26% in that time.
Wall Street will be looking for positivity from BOX as it approaches its next earnings report date. Meanwhile, our latest consensus estimate is calling for revenue of $189.44 million, up 9.79% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $0.50 per share and revenue of $764.60 million. These totals would mark changes of +1566.67% and +9.81%, respectively, from last year.
It is also important to note the recent changes to analyst estimates for BOX. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company’s business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. BOX is currently sporting a Zacks Rank of #2 (Buy).
Looking at its valuation, BOX is holding a Forward P/E ratio of 37.39. For comparison, its industry has an average Forward P/E of 65.81, which means BOX is trading at a discount to the group.
The Internet – Software industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 80, which puts it in the top 32% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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