Box Inc. shares reached a 52-week high of $34.23 on Wednesday, extending gains to 38% over the past six months and 10.3% year-to-date. The cloud storage company’s stock has climbed 5.91% over the prior 12 months, supported by strong financial performance.
The advance follows Box’s fiscal second-quarter results, which showed total revenue of $321.1 million, outpacing the $319.33 million consensus estimate from Wall Street. Adjusted earnings per share matched expectations at $0.40. Revenue growth accelerated to 11% in constant currency terms, up from 7% a year earlier, while billings increased 16% in the same metric.
Gross profit margins remained robust at 79.6%, underscoring the company’s pricing power in the enterprise software market. Box also raised its full-year outlook, reflecting confidence in sustained demand for its content management and collaboration tools.
Analysts at UBS adjusted their price target for Box to $37 from $29, though they maintained a neutral rating on the stock. The reassessment comes as investors weigh the company’s ability to sustain revenue growth amid competitive pressure in the cloud storage sector.
