UBS reiterated its Buy rating and $42 price target on Box, Inc. (NYSE:BOX) following the company’s BoxWorks event in San Francisco, where new generative AI products were unveiled.
The company introduced Box AI Search Agent, Research Agent, Extract, Automate, and enhancements to Box AI Studio, along with Box Shield Pro, which will be offered as an add-on product. UBS noted that most of the AI suite was bundled into the Enterprise Advanced package, opening additional monetization opportunities.
Feedback on the AI portfolio was mixed. While some partners were actively promoting Enterprise Advanced, several customers indicated they were holding off on upgrades due to budget constraints. UBS said the SKU had been available for less than a year, and it was too early to see meaningful impact on results.
