Top 10 AI News Stories For The Weekend

8. Box, Inc. (NYSE:BOX)

Number of Hedge Fund Holders: 31

Box, Inc. (NYSE:BOX) enables organizations of various sizes to manage and share their content from anywhere on any device. It is a key player in the “intelligent content management” space, leveraging artificial intelligence through its Box AI platform. On December 4^th, Citi maintained its Buy rating on Box, Inc. (NYSE:BOX) and increased its price target to $40 from $34. The firm is optimistic about the company’s future financial performance, following the fiscal Q3 report.

Some figures highlighted from the earnings report include Box’s consistent revenue growth which saw a 6% year-over-year increase on a constant currency basis, and a significant outperformance in Remaining Performance Obligations (RPO), witnessing a 14% year-over-year growth, also on a constant currency basis. The demand environment remains robust as evident from the company’s strong RPO figures, with particular strength in the Japan and U.S. enterprise sectors.

Additionally, the analyst also expressed optimism about Box’s positioning for enhanced growth. This growth is driven by the introduction of its new Enterprise Advance tier, potentially leading to a 20-40% pricing uplift, and Box AI, which is anticipated to contribute to a recovery in Net Revenue Retention (NRR).