Shares of Box Inc. (BOX) are soaring 13.64% in pre-market trading on Wednesday following the cloud content management company's impressive first-quarter fiscal 2026 results and raised full-year guidance. The surge reflects investors' enthusiasm for Box's strong performance and its growing momentum in artificial intelligence (AI) offerings.

Box reported Q1 revenue of $276 million, up 4% year-over-year and beating analysts' expectations of $274.8 million. The company's non-GAAP earnings per share came in at $0.30, surpassing the consensus estimate of $0.26. This strong financial performance was driven by growing demand for Box's AI-powered solutions and its Enterprise Advanced suite.

Investors were particularly encouraged by Box's decision to raise its full-year guidance. The company now expects fiscal year 2026 revenue between $1.165 billion and $1.170 billion, up from its previous forecast of $1.155 billion to $1.160 billion. Box also increased its annual adjusted earnings guidance to a range of $1.22 to $1.26 per share.

CEO Aaron Levie highlighted the company's focus on AI during the earnings call, stating, "We're building out the leading Intelligent Content Management Platform to help enterprises fully connect the power of AI to their content." The strong adoption of Box's Enterprise Advanced plan and AI capabilities has contributed significantly to customer expansion and revenue growth.

Following the earnings release, several analysts raised their price targets for Box, reflecting increased confidence in the company's growth prospects. Raymond James raised its target price to $42 from $38, while Morgan Stanley increased its target to $38 from $35. These positive analyst reactions are likely contributing to the stock's significant pre-market surge.