Box tumbles on downbeat Q4 forecast, weak Q3 results

Box

06/12/2023 10:48

** Shares of software firm Box Inc  BOX.N  fall 12.4% to
$23.39 premarket
    ** Co sees Q4 revenue in the range of $262 mln-264 mln,
below analysts' view of $265.8 mln - LSEG data 
    ** Box expects Q4 non-GAAP EPS between $0.38-$0.39, below
estimates of $0.40 - LSEG data
    ** Co posts Q3 revenue of $261.5 mln, missing Wall Street
view of $263.7 mln
    ** Quarterly non-GAAP EPS of $0.36 missed estimate of $0.38
    ** JP Morgan reduces PT on the stock to $31 from $33
    ** Eight of 11 brokerages rate the stock "buy" or higher,
two "hold" and one "sell"; their median PT is $31
    ** Up to Tuesday's close, stock had fallen 14.3% YTD

 (Reporting by Khushi Singh)
 ((Khushi.Singh@thomsonreuters.com;))