After Box has been stuck in the mid-teens for months on end, Jim Cramer decided to take a closer look to find out if investors could be approaching a moment where the stock has become a screaming buy.
The popular cloud-based storage and mobile business collaboration platform came public in January and was a hit right from the beginning. After pricing at $14, the stock closed at $23.23 on its first day of trading. However, since then it has all been downhill, and the stock now trades at $17.
And while the company is not yet profitable and it faces serious competition from Google, Microsoft and Dropbox, the "Mad Money" host recognized that Box has seen some solid results. Box reported a month ago and delivered higher than expected revenues, a smaller than expected loss and raised guidance for 2016.
"With 37 million total users on their mostly free data storage platform, and 47,000 customers who actually pay for higher quality of service, I think Box has found a business model that works," Cramer said.
So could Box be headed into new territory? Cramer sat down with the co-founder, chairman and CEO of Box, Aaron Levie, to find out.