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 $20.22.
Kidron commented:
“This week we hosted investor meetings with Box’s management. Our impression is that Box’s portfolio is well-rounded, yet stronger uptake depends on correct suite positioning/pricing and improved sales execution, something we’ll have to monitor. We highlight: (1) sales execution has been uneven, but points of success suggest issues are solvable; (2) product portfolio is now well-rounded to address a range of enterprise needs; (3) effective suite bundling (price, position, tiering…) is critical in driving uptake; and (4) we believe Box’s $1B FY22 revenue target is still achievable, though likely a stretch at this point. Net, we remain optimistic, yet cautious given the mixed track record. Positively, we see a real opportunity for effective bundling and up- selling. We’d be aggressive buyers on signs of improved/consistent execution.”
According to TipRanks.com, Kidron is a top 25 analyst with an average return of 28.8% and a 70.3% 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 Moderate Buy analyst consensus rating for Box Inc with a $24 average price target, implying a 18.7% upside from current levels. In a report issued on February 28, Canaccord Genuity also maintained a Buy rating on the stock with a $24 price target.
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Based on Box Inc’s latest earnings release for the quarter ending January 31, the company reported a quarterly GAAP net loss of $19.69 million. In comparison, last year the company had a GAAP net loss of $32.67 million.
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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.
