Box (BOX): Another Beat, One Quarter Closer To Profitability - Stifel
- Wall Street falls as investors ready for Trump's inauguration
- IBM (IBM) Tops Q4 EPS by 13c, FY17 EPS Guidance Beats Consensus
- American Express (AXP) Misses Q4 EPS by 7c, FY17 EPS Guidance Tops Views at Mid-Poinit
- Skyworks Solutions (SWKS) Tops Q1 EPS by 3c, Offers Q2 Guidance, Announces Buyback
- After-Hours Stock Movers 01/19: (SWKS) (QRVO) (NVAX) Higher; (AFMD) (SGYP) (IBM) Lower (more...)
Get access to the best calls on Wall Street with StreetInsider.com's Ratings Insider Elite. Get your Free Trial here.
Stifel analyst, Aaron Rakers, reiterated his Hold rating on shares of Box, Inc. (NYSE: BOX) after the company reported revenue and EPS upside. F3Q17 revenue/EPS of $102.8M/-$0.14/sh topped his estimates of $100.7M/-$0.19.
1.) Adjusted billings grew a solid +30% y/y and ahead of the reported +25% y/y as Box reiterated expectations that billings growth will trail y/y revenue growth F4Q17 with key considerations including 10% of billings from multi-year prepayments in F4Q16 and a $4M of pull-forward from earlier-than-expected renewals in F2Q17. Box expects billings growth to be similar to revenue growth throughout F2018
2.) IBM drove 8 +$100k deals during the October quarter (vs. 8 deals in the prior quarter) – we will be focused on Box’s comments that it is beginning to see an inflection point of this relationship going into F2018
3.) GM% at 76.1% was ahead of our 73.3% estimate (guide at ~73%), with 3/4ths of the leverage from improved efficiencies and 1/4th from the change in the useful life of servers (vs. previous 2-3 years); Box also delayed a new data center launch into F4Q17 (expected to result in GM% of ~74% in F4Q17)
4.) Box reiterated its expectation of attaining positive FCF in F4Q17 (Jan ’17).
No change to the price target of $15.
Shares of Box, Inc. closed at $15.22 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Goldman Sachs (GS) PT Raised to $256.00 at Oppenheimer Following 4Q Report
- UPDATE: SunTrust Robinson Humphrey Starts HEICO (HEI) at Buy
- Netflix (NFLX) PT Raised to $150.00 at BMO Capital; Keeps 'Market Perform'
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS Change, Earnings
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!