Box: Positioned for AI-Driven Growth and Enhanced Shareholder Returns, Supporting Buy Rating and $33 Target

Analyst Matt Bullock from Bank of America Securities reiterated a Buy rating on Box and keeping the price target at $33.00.

Matt Bullock has given his Buy rating due to a combination of factors that strengthen Box’s long‑term growth outlook. Following the investor day, he sees Box as well positioned to benefit from AI‑driven content workflows, with Enterprise Advanced already supporting hundreds of use cases and often prompting customers to both upgrade and add seats, reinforcing confidence in reaching the top end of Box’s 10–15% growth target range.

He also points to rising recurring revenue quality and capital returns as key supports for the rating. Management expects faster price and seat growth, improving net retention into the 105%–110% range and expanding higher‑margin platform revenues, while an additional $500 million buyback—about 15% of market cap—enhances shareholder value, and the stock still trades below peers at the reiterated $33 price objective based on its 2027 free‑cash‑flow multiple.

Bullock covers the Technology sector, focusing on stocks such as Box, Asana, and Monday.com. According to TipRanks, Bullock has an average return of -14.9% and a 25.00% success rate on recommended stocks.

In another report released on March 9, D.A. Davidson also reiterated a Buy rating on the stock with a $45.00 price target.