Box Reports AI-Driven Beat, 2 Analysts Dive Into Q1 Results: 'Revenue, Bookings Guidance Lower Due To Currency Headwinds'
Portfolio Pulse from Priya Nigam
Box Inc (NYSE:BOX) reported better-than-expected sales and earnings for the fiscal first quarter, driven by strong performance from Box AI. Despite currency headwinds leading to lowered revenue and bookings guidance, analysts have mixed ratings with RBC Capital Markets maintaining an Underperform rating and Oppenheimer reiterating an Outperform rating.
May 29, 2024 | 4:12 pm
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Box Inc reported better-than-expected Q1 earnings and sales, driven by Box AI. Despite currency headwinds leading to lowered revenue and bookings guidance, the stock rose by 7.83%. Analysts have mixed ratings: RBC Capital Markets with an Underperform rating and Oppenheimer with an Outperform rating.
The better-than-expected earnings and sales, driven by Box AI, have positively impacted the stock price. Despite the lowered guidance due to currency headwinds, the stock rose significantly. Mixed analyst ratings indicate varied expectations for future performance.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100