Box (BOX): Positive Quarter Highglights Fundamentals - Drexel Hamilton

Drexel Hamilton analyst, Brian Whilte, reiterated his Buy ratingon shares of Box, Inc. (NYSE: BOX) after the company reported a solid 2Q:FY18 performance that beat expectations offered a healthy outlook ahead of consensus. Box reported 2Q:FY18 sales of $122.9 million (up 28% YoY) that exceeded Street consensus of $121.75 million. A loss per share of $0.11 was better than consensus expectations for a loss per share of $0.13.

The analyst stated "The tone of the call was positive with 2Q:FY18 deferred revenue growing 32% YoY and billings increasing by 31%, outpacing revenue growth. Given the recent announcement around Google Cloud Vision, AI was in focus and the company plans to have more to say on the topic at the upcoming BoxWorks conference in October".

No change to the price target of $28.

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 $19.64 yesterday.

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