On Tuesday, DA Davidson began coverage on shares of Box, Inc. (NYSE: BOX), a prominent enterprise content management solution provider. The firm set a Buy rating on the company's stock, accompanied by a price target of $45.00.
Box, Inc. has been acknowledged as a market leader in its field for more than a decade. DA Davidson's coverage initiation comes at a time when the company is perceived to be at the beginning of a growth inflection point following its recent platform expansions.
"We expect to see an upgrade cycle from current customers to more premium tiers of the Box platform leading to both higher growth and margins," the analysts said.
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