JPMorgan Upgrades Box, Inc. (BOX) to Overweight

JPMorgan analyst Pinjalim Bora upgraded Box, Inc. (NYSE: BOX) from Neutral to Overweight with a price target of $34.00 (from $31.00).

The analyst comments "Box is a cloud-based, mobile-optimized Enterprise Content Collaboration platform that enables users to access and collaborate on centralized content from anywhere. Our customer due diligence highlights Box’s differentiated focus on rich and complex features for corporate IT departments, spanning security, compliance, workflow, and auditing. Additionally, Box enjoys a vibrant platform ecosystem and a large base of 78M registered users that currently drives 110% dollar-based retention. In our view, we think Box presents an undervalued profitable growth story, as the company is a category leader with differentiated technology spanning the entire lifecycle of content with a focus on data security, compliance, and governance."

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 $28.11 yesterday.

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