Bank of America Securities analyst Matt Bullock reiterated a Buy rating on Box yesterday and set a price target of $40.00.
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Matt Bullock has given his Buy rating due to a combination of factors that highlight Box’s strong performance and growth potential. The company reported impressive second-quarter results for fiscal year 2026, surpassing expectations and raising its revenue outlook. A key driver of this success is the momentum of Enterprise Advanced, which saw a significant increase in closed deals and pricing uplift compared to Enterprise Plus.
Additionally, Box’s net revenue retention has improved, indicating a positive trend in seat growth and expanding user base, particularly with new capabilities that cater to specific enterprise departments. The company’s financial results exceeded market expectations, with revenue and billings outperforming projections. Furthermore, Box’s management has increased its revenue guidance for the fiscal year, reinforcing confidence in the company’s future performance. These factors collectively support the Buy rating and the price objective of $40.
BOX’s price has also changed slightly for the past six months – from $32.550 to $31.160, which is a -4.27% drop .