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Strong Pipeline Should Provide Q2 Upside For Box

Strong Pipeline Should Provide Q2 Upside For Box - Box, Inc. NYSE:BOX

Bank of America Merrill Lynch analyst Joyce Yang has a Buy rating on Box Inc BOX shares. The rating comes ahead of the company's scheduled announcement of the second-quarter results on August 31.

The analyst believes that pipeline should provide enough upside and looks forward for billing strength in the second half of the current year.

Although the stock recovered modestly compared to what it was in the early part of the year, the stock is trading down by about 18 percent on a year-to-date basis compared to the Nasdaq.

"We expect mid-high-single-digit duration impact on Q2 billings. Business mix is also getting more back-end weighted toward 2H," the analyst said.

The brokerage pointed out that its recent checks with the customers and partners suggested that add-on products were purchased on a selective basis.

In the last four quarters, Box earnings provided positive surprise between 0.0 percent and 25.0 percent. Currently, Street analysts expect the company to suffer a loss of $0.19 a share on revenue of $94.65 million.

At time of writing, Box was up 0.16 percent on the day, trading at $12.91.

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DateFirmActionFromTo
Jun 2016JP MorganDowngradesOverweightNeutral
Mar 2016Drexel HamiltonInitiates Coverage onBuy
Mar 2016Morgan StanleyMaintainsEqual-weight

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