Box (BOX) PT Raised to $22 at Drexel Hamilton Following Solid Q3

December 1, 2016 7:32 AM EST
Get Alerts BOX Hot Sheet
Price: $15.48 +2.79%

Rating Summary:
    8 Buy, 7 Hold, 0 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 11 | Down: 31 | New: 42
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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.

For an analyst ratings summary and ratings history on Box, Inc. click here. For more ratings news on Box, Inc. click here.

Shares of Box, Inc. closed at $15.22 yesterday.



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Related Categories

Analyst Comments, Analyst EPS Change, Analyst EPS View, Analyst PT Change

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Drexel Hamilton, Brian White

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