On Tuesday, Box stock earned a positive adjustment to its Relative Strength (RS) Rating, from 70 to 75.
When looking for the best stocks to buy and watch, one factor to watch closely is relative price strength.
IBD's unique rating measures market leadership with a 1 (worst) to 99 (best) score. The rating shows how a stock's price performance over the trailing 52 weeks stacks up against all the other stocks in our database.
History shows that the stocks that go on to make the biggest gains often have an 80 or better RS Rating as they launch their biggest price moves. See if Box stock can continue to show renewed price strength and clear that threshold.
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Is Box Stock A Buy?
Box stock sank the last few trading days on fiscal Q4 earnings results despite posting solid results. The cloud-based storage provider's outlook for the rest of year fell short of estimates. Now is not an ideal time to jump in since it isn't near a proper buy zone, but see if the stock manages to form a consolidation and break out.
While sales growth fell last quarter from 12% to 10%, the bottom line grew 54%, up from 41% in the previous report.
Box stock earns the No. 6 rank among its peers in the Computer Software-Database industry group. Oracle and Progress Software are also among the group's highest-rated stocks.
