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Fly News Breaks for June 4, 2019
Jun 4, 2019 | 06:48 EDT
MUFG analyst Stephen Bersey recommends patience with respect with Box shares as the company transitions from selling software tools to selling enterprise-grade solutions. This has been the primary driver of the elongation of sales cycles, Bersey tells investors in a research note following Box's fiscal Q1 results. He thinks the company has made "significant progress" toward becoming an enterprise-class software vendor in a relatively short period, and that "growing pains are to be expected." The analyst reaffirms an Overweight rating on Box shares with a $26 price target.
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