By Nate Wolf
Box Inc. stock was climbing in premarket trading Wednesday after the cloud storage company beat earnings expectations for the first quarter and raised revenue guidance for the remainder of the fiscal year.
The company posted adjusted earnings of 30 cents a share on revenue of $276 million for the quarter, above Wall Street's call for 26 cents a share on $275 million in revenue. Box management also raised its revenue forecast for fiscal 2026 to $1.165 billion to $1.17 billion from a previous range of $1.155 billion to $1.16 billion.
Box shares jumped 10% to $34.72 in premarket trading.
Several analysts boosted their target prices on the stock.
Analysts at Raymond James reiterated an Outperform rating for the stock and raised their target price to $42 from $38, citing momentum in the company's Enterprise Advanced suite.
Write to Nate Wolf at nate.wolf@barrons.com
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May 28, 2025 07:50 ET (11:50 GMT)
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