JPMorgan Downgrades Box, Inc. (BOX) to Underweight

September 27, 2019 4:22 AM EDT
Get Alerts BOX Hot Sheet
Price: $24.95 +1.05%

Rating Summary:
    14 Buy, 9 Hold, 2 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 17 | Down: 5 | New: 36
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JPMorgan analyst Mark Murphy downgraded Box, Inc. (NYSE: BOX) from Neutral to Underweight with a price target of $15.00.

  • Incrementally more negative noting increased competition generates a LT structural headwind for the company.
  • Says negative spending intentions for the company in recent 2019 CIO survey reflects heightened competition.
  • "Our downgrade reflects the expectation of LT negative impacts from an increasingly competitive environment and therefore headwinds to a materially higher stock price, rather than the expectation of an imminent negative catalyst."

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 $17.05 yesterday.

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