Shares Of Box Gain 4% After Analyst Upgrade

By Caitlin HustonMarketWatch Pulse

Shares of Box rose 4% in early trade Friday after Canaccord analysts upgraded the stock to buy from hold. The analysts cited Box's solid execution, even as shares have declined, in a tough market, as well as expected new feature announcements next week. "While we don't expect any epic announcements during next week's user conference, we do expect incremental feature and functionality news." Those small expected announcements show Box "puling away" from competitors, the analysts say, and overall they see an advantage with Box focusing on business, rather than consumers. Shares of Box have lost 30% in the past three months, compared to the S&P 500's loss of 7%.

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