In a report released today, Ittai Kidron from Oppenheimer maintained a Buy rating on Box Inc (BOX), with a price target of $22. The company’s shares closed yesterday at $24.88.
Kidron wrote:
“Box delivered a mixed 4Q and disappointing outlook as poor EMEA and seven-figure deal execution weighs on performance. There are signs that Box’s strategic selling can drive better growth, including solid six-figure deal momentum (94 vs. 79 YoY) with steady add-on attach rates QoQ (~80%). Continued YoY operating leverage is also encouraging. But, the uneven overall performance is a disappointment that shows some of Box’s processes aren’t where they need to be, which will weigh on investor sentiment until they’re smoothed out. We’re disappointed, but still see potential in the product road-map (content management/security, work flow automation, collaboration, etc.) and ability to up-sell with better suite positioning. Maintain Outperform, lowering PT to $22 from $25 reflecting the execution uncertainties.”
According to TipRanks.com, Kidron is a top 25 analyst with an average return of 29.5% and a 71.7% success rate. Kidron covers the Technology sector, focusing on stocks such as Citrix Systems, New Relic Inc, and Cloudera Inc.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Box Inc with a $25.75 average price target.
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The company has a one-year high of $29.79 and a one-year low of $15.64. Currently, Box Inc has an average volume of 2.3M.
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Box, Inc. engages in the provision of enterprise content platform that enables organizations to securely manage enterprise content while allowing easy, secure access and sharing of this content from anywhere, on any device.
