Box price target lowered to $37 from $38 at JPMorgan

JPMorgan lowered the firm’s price target on Box (BOX) to $37 from $38 and keeps an Overweight rating on the shares. The company reported a good end to the year with forward looking metrics coming in ahead of guidance and consensus expectations, driven by a solid bookings cadence in addition to a higher volume of early renewals in the quarter, the analyst tells investors in a research note. The firm says Box seeing solid momentum in some of its newer products.