Box (BOX): Guiding To $1B In Revenue In 2021 At Analyst Day - Stifel
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Stifel analyst, Aaron Rakers, reiterated his Buy rating on shares of Box, Inc. (NYSE: BOX) after attending the company's annual user conference and analyst day.
The key takeaway of the day was Box stating that it sees a path to $1B in annualized revenue in 2021. The company is assuming 75% of growth is driven by existing customer seat expansion and using an existing customer cohort $ weighted F2018-F2021 CAGR of 15% vs. a 25% F2014-F2017. The analyst stated "we believe investors could be left to gauge conservatism in this forecast relative to our expectation of: 1.) additional leverage from its reseller partnerships (IBM driving 8 +$100k deals in F2Q17); 2.) the company’s continued introduction of add-on solutions (driving ~30% uplift to average $/seat); 3.) Box Zones enabling higher international adoption (note: international at ~17% of revenue in F2Q17)."
No change to the price target of $15.
Shares of Box, Inc. closed at $14.26 yesterday.
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