Cloud content storage and management platform Box (NYSE:BOX) will be reporting earnings tomorrow afternoon. Here's what to expect.
Last quarter Box reported revenues of $224 million, up 14.3% year on year, beating analyst revenue expectations by 2.48%. It was a decent quarter for the company, with a strong sales guidance for the next quarter.
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 14.9% year on year to $228.6 million, improving on the 8.34% year-over-year increase in revenue the company had recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.23 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 1.2%.
Looking at Box's peers in the productivity software segment, some of them have already reported Q4 earnings results, giving us a hint what we can expect. Dropbox (NASDAQ:DBX) delivered top-line growth of 12.1% year on year, beating analyst estimates by 1.27% and Five9 (NASDAQ:FIVN) reported revenues up 35.7% year on year, exceeding estimates by 4.94%. Dropbox traded up 7.7% on the results, Five9 dropped 14.5%. Read our full analysis of Dropbox's results here and Five9's results here.
The whole tech sector has been facing a sell-off since late last year and while some of the software stocks have fared somewhat better, they have not been spared, with average share price declining 4.55% over the last month. Box is down 1.64% during the same time, and is heading into the earnings with analyst price target of $30.1, compared to share price of $25.7.
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The author has no position in any of the stocks mentioned.