Cloud content storage and management platform Box (NYSE:BOX) will be reporting results tomorrow after market close. Here's what to expect.
Last quarter Box reported revenues of $233.3 million, up 17.3% year on year, beating analyst revenue expectations by 2.08%. It was a solid quarter for the company, with guidance for the next quarter and full-year beating analysts' expectations.
Is Box buy or sell heading into the earnings? Read our full analysis here, it's free.
This quarter analysts are expecting Box's revenue to grow 15.8% year on year to $234.4 million, improving on the 10.2% year-over-year increase in revenue the company had recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.25 per share.
Majority of analysts covering the company have reconfirmed their estimates over the last thirty days, suggesting they are expecting the business to stay the course heading into the earnings. The company has a history of exceeding Wall St's expectations, beating revenue estimates every single time over the past two years on average by 1.32%.
Looking at Box's peers in the productivity software segment, some of them have already reported Q1 earnings results, giving us a hint of what we can expect. Dropbox delivered top-line growth of 9.92% year on year, beating analyst estimates by 0.59% and 8x8 reported revenues up 25.3% year on year, exceeding estimates by 0.27%. Dropbox traded up 1.96% on the results, 8x8 was flat on the results. Read our full analysis of Dropbox's results here and 8x8's results here.
Tech stocks have been under pressure since the end of last year and software stocks have been swept alongside with it, with share price down on average 19% over the last month. Box is down 20.6% during the same time, and is heading into the earnings with analyst price target of $32.3, compared to share price of $25.25.
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The author has no position in any of the stocks mentioned.