Morgan Stanley lowered the firm’s price target on Box to $30 from $32 and keeps an Equal Weight rating on the shares. Q1 was in line or slightly better than management expectations on a constant currency basis, though Q1 billings as well as Q2 and FY25 revenue and billings guidance missed consensus on incremental forex headwinds, the analyst tells investors. The firm sees “compelling value,” but also a lack of near-term catalysts, the analyst added.
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