Box, Inc. (BOX) Virtual NDR Implies Company is at a Growth Inflection - William Blair

William Blair analyst Jason Ader reiterated an Outperform rating on Box, Inc. (NYSE: BOX) after hosting virtual investor meetings with Box CEO Aaron Levie and CFO Dylan Smith that conveyed confidence that the company is at an inflection point. Management believes that the company \is poised for top-line reacceleration from 10% to midteens.over the next several quarters, driven mainly by building momentum for its content cloud suites.

The analyst stated "Looking ahead, key performance indicators to watch will be billings, RPO, and NRR—all of which appear to be on the upswing. From a competitive standpoint, Box management believes that its single-platform, cloud-agnostic approach to enterprise content management is unrivaled—and the more functions that it folds into the platform (the most recent example being e-signature), the more value it brings to customers and the more it is able to separate itself from more narrowly focused competitors. Trading at 3.6 times our calendar 2022 sales estimate (for a 100% SaaS business), and following an eventful few months that saw management successfully fend off a proxy bottle from activist investor Starboard (which now looks to be almost out of the stock, based on recent ownerships filings), the stock looks to us like a compelling value here."

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 $26.40 yesterday.

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