Box: Not Yet A Buy Despite Strong Q3 Results


  • BOX recently posted third quarter results, beating the market EPS estimates by 4.5%.
  • The gross margin for the third quarter stood at 74.5% compared to 71.7% in the same quarter last year.
  • BOX is trading at a forward non-GAAP P/E multiple of 26.7x compared to the industry standard of 19.5x.
  • I assign a hold rating for BOX.

Technology in the field - digital tablet


Investment Thesis

Box, Inc. (NYSE:BOX) is a leading cloud services provider based out of Redwood City, United States. In this thesis, I will be analyzing BOX’s third-quarter FY23 results and its future growth prospects. I will also be analyzing its valuation at

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Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

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