Wall Street Remains Bullish On Box Following Q3 Earnings Tumble

Box Inc BOX reported solid Q3 numbers, but the market has punished the stock in Thursday’s trading session. With Box down 9.0 percent following earnings, here’s a look at what four Wall Street firms have to say about the stock post-earnings.

Oppenheimer
Analyst Ittai Kidron remains “positive on Box’s growth catalysts (channel build, Platform expansion, up-sell) and long-term operating leverage (scale ad room to manage free user costs)” and is still recommending the stock with an Outperform rating. Kidron is “especially bullish” on the International Business Machines Corp. IBM and Platform opportunities for Box. The firm has a $21 price target for Box.

Pacific Crest
Pacific Crest analyst Rob Owens believes that traders should “put BOX under the tree” and praises the company’s “impressive Q3, with billings, revenue and free cash flow results exceeding our estimates.” Pacific Crest has an Overweight rating on Box and a $24 price target for the stock.

Cannacord
Analyst Richard Davis also remains bullish on Box, even though he admits that the payoff on the stock may be a few quarters away. Still, Davis would “rather be early than run the classic sell-side late to the story playbook.” Cannacord maintains a Buy rating on Box and a $18 price target for the stock.

Bank of America
Bank of America also believes traders should be buying the post-earnings dip. “Results this quarter confirm our thesis that Box’s growth is unlikely to temper given its continued upsells,” the firm wrote in a report. Bank of America maintains its Buy rating on Box.

Disclosure: the author holds no position in the stocks mentioned.