Fly News Breaks for June 4, 2019
Jun 4, 2019 | 07:06 EDT
Deutsche Bank analyst Michael Turrin lowered his price target for Box to $17 from $21 saying the company last night "continued a string of quarterly disappointments," with billings growth of "just" 1% and a reduced fiscal 2020 revenue guidance. The analyst remains cautious on the shares "given signs that enterprises have been slower to move all-in on cloud storage" as well as increasing competition. He keeps a Hold rating on Box.
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