Canaccord Genuity Reiterates Buy on Box (BOX) Following a Positive 4Q

Canaccord Genuity maintained a Buy rating and $18.00 price target on Box, Inc. (NYSE: BOX) following the company's 4Q earnings report. Revenue, operating margins, billings, FCF; added roughly 3,000 net new customers in the quarter, bringing the total to 57,000 paying customers, up from 45,000 last year.

Analyst Richard Davis commented, "Last fall we suggested that the stock could rally as investors gained sufficient confidence to reach our view that the firm was: (1) materially changed for the better post IPO, and (2) this increased the likelihood that the company would be able to achieve scale and profitability. We then hosted the firm on a non-deal roadshow after which we reiterated that theme with frankly modest success. The good news is that with last night’s clean print and guide, we suggest that Box has won over a plurality of investors, which means that future good execution should propel the stock higher as a majority get on the bandwagon. Even with an impressive after-hours pop, BOX remains one, if not our favorite, “bounce back” stock recommendation for 2016. BUY."

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 $12.52 yesterday.

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