Box Stock Is Tumbling Wednesday: What's Happening?
Portfolio Pulse from Adam Eckert
Box Inc (NYSE:BOX) stock fell after reporting Q3 results that missed estimates and issuing weak guidance. Q3 revenue was $261.54 million versus estimates of $263.69 million, and EPS was 36 cents compared to the expected 38 cents. Despite a year-over-year revenue increase of 5%, the company's Q4 and full-year revenue and earnings guidance fell short of analyst expectations. Keybanc, Morgan Stanley, and Raymond James analysts all lowered their price targets for Box following the earnings report.
December 06, 2023 | 2:39 pm
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NEGATIVE IMPACT
Box Inc reported lower-than-expected Q3 earnings and issued weak guidance, leading to a stock price decline. Analysts from Keybanc, Morgan Stanley, and Raymond James reduced their price targets for the company.
The negative impact on Box Inc's stock is due to the earnings miss and reduced guidance, which typically lead to a loss of investor confidence and downward pressure on the stock price. The lowered price targets by analysts further contribute to the bearish sentiment.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100