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Canaccord Remains Cautious On Box Following Q2 Print, Notes Company Several Quarters Away From Profitability

Box, Inc. NYSE:BOX - Canaccord Remains Cautious On Box Following Q2 Print, Notes Company Several Quarters Away From Profitability
  • Shares of Box have fallen 25 percent since its highs in June.<
  • Richard Davis Jr. of Canaccord maintained a Hold rating with a lower price target following the Q2 print.
  • Davis stated the "chief knock" against Box is its negative cash flow and the company is several quarters away from showing any kind of profit.

Box, Inc. BOX 3.51%, a provider of cloud-based and mobile optimized Enterprise Content platform, reported its second-quarter results after Wednesday's market close. Shares gained over 3 percent immediately following the print, a move which was initially attributed to its narrower-than-expected quarterly loss.

Canaccord Genuity's Richard Davis Jr. commented in a note that the company...


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