Box (BOX) PT Raised to $22 at Drexel Hamilton Following Solid Q3
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Drexel Hamilton analyst Brian White reiterated a Buy rating and boosted his price target on Box, Inc. (NYSE: BOX) to $22.00 (from $18.00) following solid Q3 and more powerful platform.
White commented, "Trading at an EV/revenue ratio of just 3.6x our CY:17 estimate, we believe Box is one of the more underappreciated and misunderstood cloud plays in the market today. After another positive quarterly performance, an expanding portfolio and growing partnerships, we believe sentiment will improve and the stock's valuation will expand."
He added, "Box continues to forge partnerships with leading tech companies that we believe speaks to the company's position in the industry. For example, Box discussed its recently unveiled collaboration partnership with Facebook, combined with positive commentary around the IBM relationship and more color around the Google partnership that was announced at BoxWorks."
For 4Q:FY17, they are maintaining their revenue forecast at $109.4 million and adjusting EPS estimate to negative $0.13 from negative $0.16. For FY:18, they are slightly increasing their revenue estimate to $504.3 million (up 27% YoY) from $502.3 million.
Shares of Box, Inc. closed at $15.22 yesterday.
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Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS Change, Analyst EPS View, Analyst PT Change
Related EntitiesDrexel Hamilton, Brian White
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