Box (BOX) Stock Forecast, Price Target & Predictions
BOX Stock Forecast
Box stock forecast is as follows: an average price target of $32.75 (represents a 0.77% upside from BOX’s last price of $32.50) and a rating consensus of 'Buy', based on 23 wall street analysts offering a 1-year stock forecast.
BOX Price Target
The average price target for Box (BOX) is $32.75 based on 1-year price targets from 23 Wall Street analysts in the past 3 months, with a price target range of $41.00 to $21.00. This represents a potential 0.77% upside from BOX's last price of $32.50.
BOX Analyst Ratings
According to 23 Wall Street analysts, Box's rating consensus is 'Buy'. The analyst rating breakdown for BOX stock is 0 'Strong Buy' (0.00%), 18 'Buy' (78.26%), 5 'Hold' (21.74%), 0 'Sell' (0.00%), and 0 'Strong Sell' (0.00%).
Box Price Target by Analyst
| Date | Analyst | Company | Price Target | Price when Published | Price Target/Price when Published | Price Target/Last Closing Price |
|---|---|---|---|---|---|---|
| Aug 28, 2024 | Steven Enders | Citigroup | $34.00 | $28.82 | 17.97% | 4.62% |
| Aug 28, 2024 | Taylor McGinnis | UBS | $34.00 | $28.82 | 17.97% | 4.62% |
| May 29, 2024 | George Iwanyc | Oppenheimer | $35.00 | $27.09 | 29.18% | 7.69% |
| May 29, 2024 | Josh Baer | Morgan Stanley | $30.00 | $25.04 | 19.81% | -7.69% |
| May 22, 2024 | Josh Baer | Morgan Stanley | $32.00 | $26.59 | 20.35% | -1.54% |
| Mar 20, 2024 | Erik Suppiger | JMP Securities | $32.00 | $28.34 | 12.91% | -1.54% |
| Mar 20, 2024 | Rishi Jaluria | RBC Capital | $21.00 | $28.34 | -25.90% | -35.38% |
| Oct 03, 2022 | Josh Baer | Morgan Stanley | $34.00 | $26.36 | 29.01% | 4.62% |
| Sep 09, 2022 | Brian Peterson Peterson | Raymond James | $35.00 | $26.59 | 31.63% | 7.69% |
| May 31, 2022 | Chad Bennet | Craig-Hallum | $41.00 | $26.81 | 52.93% | 26.15% |
The latest Box stock forecast, released on Aug 28, 2024 by Steven Enders from Citigroup, set a price target of $34.00, which represents a 17.97% increase from the stock price at the time of the forecast ($28.82), and a 4.62% increase from BOX last price ($32.50).
Box Price Target by Period
| 1M | 3M | 12M | |
|---|---|---|---|
| # Anlaysts | - | 2 | 7 |
| Avg Price Target | - | $34.00 | $31.14 |
| Last Closing Price | $32.50 | $32.50 | $32.50 |
| Upside/Downside | -100.00% | 4.62% | -4.18% |
In the current month, the average price target of Box stock is -, according to 0 Wall Street analyst offering twelve months forecast. The average price target represents a -100.00% decrease as opposed to Box's last price of $32.50. This month's average price target is down -100.00% compared to last quarter, and down -100.00% compared to last year.
Analyst Ratings Upgrades/Downgrades
| Date | Company | Previous Rating | New Rating | Rating Change |
|---|---|---|---|---|
| Aug 28, 2024 | UBS | Buy | Buy | Hold |
| Aug 27, 2024 | Raymond James | Outperform | Outperform | Hold |
| Aug 27, 2024 | Morgan Stanley | Equal-Weight | Equal-Weight | Hold |
| Aug 27, 2024 | JMP Securities | Market Outperform | Market Outperform | Hold |
| Aug 27, 2024 | Citigroup | Buy | Buy | Hold |
| May 29, 2024 | Oppenheimer | Outperform | Outperform | Hold |
| May 29, 2024 | RBC Capital | Underperform | Underperform | Hold |
| May 29, 2024 | Morgan Stanley | Negative | Negative | Hold |
| May 29, 2024 | Citigroup | Buy | Buy | Hold |
| May 22, 2024 | Morgan Stanley | Positive | Equal-Weight | Downgrade |
Box's last stock rating was published by UBS on Aug 28, 2024. The company gave BOX a "Buy" rating, the same as its previous rate.
Box Financial Forecast
Box Revenue Forecast
| Jan 27 | Oct 26 | Jul 26 | May 26 | Jan 26 | Oct 25 | Jul 25 | May 25 | Jan 25 | Oct 24 | Jul 24 | May 24 | Jan 24 | Oct 23 | Jul 23 | May 23 | Jan 23 | Oct 22 | Jul 22 | May 22 | Jan 22 | Oct 21 | Jul 21 | May 21 | Jan 21 | Oct 20 | Jul 20 | May 20 | Jan 20 | Oct 19 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | - | - | - | - | - | - | - | - | - | - | - | - | $262.88M | $261.54M | $261.43M | - | $256.48M | $249.95M | $246.01M | - | $233.36M | $224.04M | $214.49M | - | $198.91M | $196.00M | $192.29M | - | $183.59M | $177.16M |
| Avg Forecast | $324.14M | $311.69M | $291.58M | $297.09M | $298.59M | $292.32M | $286.19M | $280.13M | $279.37M | $275.44M | $269.52M | $263.45M | $263.28M | $262.37M | $261.44M | $249.58M | $256.28M | $251.34M | $245.30M | $235.60M | $228.80M | $218.61M | $212.70M | $200.42M | $196.59M | $194.27M | $189.64M | $181.95M | $181.59M | $174.67M |
| High Forecast | $325.12M | $312.64M | $292.47M | $297.99M | $299.50M | $293.20M | $287.05M | $280.98M | $279.63M | $275.49M | $269.52M | $264.08M | $263.28M | $263.14M | $262.23M | $250.33M | $257.06M | $252.00M | $245.94M | $236.22M | $229.40M | $219.18M | $213.26M | $200.95M | $197.10M | $194.78M | $190.14M | $182.43M | $182.06M | $175.13M |
| Low Forecast | $323.75M | $311.32M | $291.23M | $296.73M | $298.23M | $291.97M | $285.84M | $279.80M | $279.23M | $275.41M | $269.52M | $262.82M | $263.28M | $261.77M | $261.12M | $249.28M | $255.97M | $251.09M | $245.05M | $235.36M | $228.57M | $218.39M | $212.48M | $200.22M | $196.39M | $194.07M | $189.45M | $181.77M | $181.41M | $174.49M |
| # Analysts | 2 | 2 | 2 | 2 | 2 | 1 | 1 | 1 | 5 | 5 | 2 | 2 | 3 | 7 | 3 | 3 | 4 | 3 | 4 | 5 | 2 | 3 | 3 | 3 | 3 | 9 | 9 | 10 | 14 | 14 |
| Surprise % | - | - | - | - | - | - | - | - | - | - | - | - | 1.00% | 1.00% | 1.00% | - | 1.00% | 0.99% | 1.00% | - | 1.02% | 1.02% | 1.01% | - | 1.01% | 1.01% | 1.01% | - | 1.01% | 1.01% |
Box's average Quarter revenue forecast for May 24 based on 2 analysts is $263.45M, with a low forecast of $262.82M, and a high forecast of $264.08M. BOX's average Quarter revenue forecast represents a 0.22% increase compared to the company's last Quarter revenue of $262.88M (Jan 24).
Box EBITDA Forecast
| Jan 27 | Oct 26 | Jul 26 | May 26 | Jan 26 | Oct 25 | Jul 25 | May 25 | Jan 25 | Oct 24 | Jul 24 | May 24 | Jan 24 | Oct 23 | Jul 23 | May 23 | Jan 23 | Oct 22 | Jul 22 | May 22 | Jan 22 | Oct 21 | Jul 21 | May 21 | Jan 21 | Oct 20 | Jul 20 | May 20 | Jan 20 | Oct 19 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| # Analysts | 2 | 2 | 2 | 2 | 2 | 1 | 1 | 1 | 5 | 5 | 2 | 2 | 3 | 7 | 3 | 3 | 4 | 3 | 4 | 5 | 2 | 3 | 3 | 3 | 3 | 9 | 9 | 10 | 14 | 14 |
| EBITDA | - | - | - | - | - | - | - | - | - | - | - | - | $33.41M | $11.38M | $21.45M | - | $32.29M | $30.45M | $20.92M | - | $15.83M | $8.94M | $11.66M | - | $16.61M | $16.39M | $13.28M | - | $-11.55M | $-23.85M |
| Avg Forecast | $12.69M | $12.20M | $11.41M | $11.63M | $11.69M | $11.44M | $11.20M | $10.96M | $10.93M | $10.78M | $10.55M | $18.32M | $10.31M | $10.27M | $10.23M | $16.66M | $9.36M | $9.84M | $9.60M | $15.14M | $8.96M | $8.56M | $8.33M | $11.73M | $7.69M | $7.60M | $7.42M | $-10.65M | $7.11M | $6.84M |
| High Forecast | $12.73M | $12.24M | $11.45M | $11.66M | $11.72M | $11.48M | $11.24M | $11.00M | $10.94M | $10.78M | $10.55M | $21.99M | $10.31M | $10.30M | $10.26M | $19.99M | $11.23M | $9.86M | $9.63M | $18.17M | $8.98M | $8.58M | $8.35M | $14.07M | $7.71M | $7.62M | $7.44M | $-8.52M | $7.13M | $6.85M |
| Low Forecast | $12.67M | $12.19M | $11.40M | $11.61M | $11.67M | $11.43M | $11.19M | $10.95M | $10.93M | $10.78M | $10.55M | $14.66M | $10.31M | $10.25M | $10.22M | $13.33M | $7.49M | $9.83M | $9.59M | $12.11M | $8.95M | $8.55M | $8.32M | $9.38M | $7.69M | $7.60M | $7.42M | $-12.78M | $7.10M | $6.83M |
| Surprise % | - | - | - | - | - | - | - | - | - | - | - | - | 3.24% | 1.11% | 2.10% | - | 3.45% | 3.10% | 2.18% | - | 1.77% | 1.04% | 1.40% | - | 2.16% | 2.16% | 1.79% | - | -1.62% | -3.49% |
2 analysts predict BOX's average Quarter EBITDA for May 24 to be $18.32M, with a high of $21.99M and a low of $14.66M. This is -45.15% lower than Box's previous annual EBITDA (Jan 24) of $33.41M.
Box Net Income Forecast
| Jan 27 | Oct 26 | Jul 26 | May 26 | Jan 26 | Oct 25 | Jul 25 | May 25 | Jan 25 | Oct 24 | Jul 24 | May 24 | Jan 24 | Oct 23 | Jul 23 | May 23 | Jan 23 | Oct 22 | Jul 22 | May 22 | Jan 22 | Oct 21 | Jul 21 | May 21 | Jan 21 | Oct 20 | Jul 20 | May 20 | Jan 20 | Oct 19 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| # Analysts | 2 | 2 | 2 | 2 | 2 | 1 | 1 | 1 | 5 | 5 | 2 | 2 | 3 | 7 | 3 | 3 | 4 | 3 | 4 | 5 | 2 | 3 | 3 | 3 | 3 | 9 | 9 | 10 | 14 | 14 |
| Net Income | - | - | - | - | - | - | - | - | - | - | - | - | $88.38M | $5.65M | $10.79M | - | $20.53M | $9.91M | $1.04M | - | $-4.33M | $-13.86M | $-8.70M | - | $-4.94M | $-5.28M | $-7.66M | - | $-30.39M | $-40.90M |
| Avg Forecast | $79.56M | $76.13M | $72.88M | $71.19M | $70.61M | $68.71M | $67.12M | $64.41M | $60.49M | $61.94M | $59.02M | $-5.01M | $56.35M | $55.58M | $51.95M | $-4.55M | $-14.52M | $43.58M | $40.28M | $-4.14M | $34.10M | $30.58M | $27.17M | $-3.49M | $25.28M | $21.18M | $18.25M | $-28.04M | $6.47M | $-1.58M |
| High Forecast | $79.88M | $76.43M | $73.17M | $71.47M | $70.89M | $68.98M | $67.38M | $64.66M | $60.73M | $62.18M | $59.04M | $-4.00M | $56.38M | $57.04M | $52.16M | $-3.64M | $-11.62M | $43.72M | $40.42M | $-3.31M | $34.22M | $30.69M | $27.26M | $-2.79M | $25.36M | $21.25M | $18.31M | $-22.43M | $6.49M | $-1.58M |
| Low Forecast | $79.44M | $76.01M | $72.76M | $71.08M | $70.50M | $68.60M | $67.01M | $64.31M | $58.98M | $60.46M | $59.01M | $-6.01M | $56.32M | $54.12M | $51.87M | $-5.46M | $-17.43M | $43.52M | $40.23M | $-4.96M | $34.06M | $30.54M | $27.13M | $-4.19M | $25.24M | $21.15M | $18.23M | $-33.64M | $6.46M | $-1.58M |
| Surprise % | - | - | - | - | - | - | - | - | - | - | - | - | 1.57% | 0.10% | 0.21% | - | -1.41% | 0.23% | 0.03% | - | -0.13% | -0.45% | -0.32% | - | -0.20% | -0.25% | -0.42% | - | -4.70% | 25.92% |
Box's average Quarter net income forecast for May 24 is $-5.01M, with a range of $-6.01M to $-4.00M. BOX's average Quarter net income forecast represents a -105.66% decrease compared to the company's last Quarter net income of $88.38M (Jan 24).
Box SG&A Forecast
| Jan 27 | Oct 26 | Jul 26 | May 26 | Jan 26 | Oct 25 | Jul 25 | May 25 | Jan 25 | Oct 24 | Jul 24 | May 24 | Jan 24 | Oct 23 | Jul 23 | May 23 | Jan 23 | Oct 22 | Jul 22 | May 22 | Jan 22 | Oct 21 | Jul 21 | May 21 | Jan 21 | Oct 20 | Jul 20 | May 20 | Jan 20 | Oct 19 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| # Analysts | 2 | 2 | 2 | 2 | 2 | 1 | 1 | 1 | 5 | 5 | 2 | 2 | 3 | 7 | 3 | 3 | 4 | 3 | 4 | 5 | 2 | 3 | 3 | 3 | 3 | 9 | 9 | 10 | 14 | 14 |
| SG&A | - | - | - | - | - | - | - | - | - | - | - | - | $117.09M | $11.38M | $121.22M | - | $115.03M | $112.99M | $116.07M | - | $109.74M | $116.22M | $107.09M | - | $95.02M | $92.35M | $94.35M | - | $102.29M | $109.44M |
| Avg Forecast | $163.27M | $157.00M | $146.87M | $149.65M | $150.41M | $147.24M | $144.16M | $141.11M | $140.72M | $138.74M | $135.76M | $127.01M | $132.62M | $132.16M | $131.69M | $115.47M | $121.76M | $126.60M | $123.56M | $104.97M | $115.25M | $110.12M | $107.14M | $67.07M | $99.02M | $97.86M | $95.52M | $94.36M | $91.47M | $87.98M |
| High Forecast | $163.77M | $157.48M | $147.32M | $150.10M | $150.86M | $147.69M | $144.59M | $141.53M | $140.85M | $138.77M | $135.76M | $152.42M | $132.62M | $132.55M | $132.09M | $138.56M | $146.11M | $126.93M | $123.88M | $125.96M | $115.55M | $110.40M | $107.42M | $80.48M | $99.28M | $98.11M | $95.77M | $113.24M | $91.71M | $88.21M |
| Low Forecast | $163.08M | $156.81M | $146.70M | $149.47M | $150.22M | $147.07M | $143.98M | $140.94M | $140.65M | $138.73M | $135.76M | $101.61M | $132.62M | $131.86M | $131.53M | $92.37M | $97.41M | $126.48M | $123.44M | $83.98M | $115.14M | $110.00M | $107.03M | $53.66M | $98.92M | $97.76M | $95.43M | $75.49M | $91.38M | $87.89M |
| Surprise % | - | - | - | - | - | - | - | - | - | - | - | - | 0.88% | 0.09% | 0.92% | - | 0.94% | 0.89% | 0.94% | - | 0.95% | 1.06% | 1.00% | - | 0.96% | 0.94% | 0.99% | - | 1.12% | 1.24% |
Box's average Quarter SG&A projection for May 24 is $127.01M, based on 2 Wall Street analysts, with a range of $101.61M to $152.42M. The forecast indicates a 8.48% rise compared to BOX last annual SG&A of $117.09M (Jan 24).
Box EPS Forecast
| Jan 27 | Oct 26 | Jul 26 | May 26 | Jan 26 | Oct 25 | Jul 25 | May 25 | Jan 25 | Oct 24 | Jul 24 | May 24 | Jan 24 | Oct 23 | Jul 23 | May 23 | Jan 23 | Oct 22 | Jul 22 | May 22 | Jan 22 | Oct 21 | Jul 21 | May 21 | Jan 21 | Oct 20 | Jul 20 | May 20 | Jan 20 | Oct 19 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| # Analysts | 2 | 2 | 2 | 2 | 2 | 1 | 1 | 1 | 5 | 5 | 2 | 2 | 3 | 7 | 3 | 3 | 4 | 3 | 4 | 5 | 2 | 3 | 3 | 3 | 3 | 9 | 9 | 10 | 14 | 14 |
| EPS | - | - | - | - | - | - | - | - | - | - | - | - | $0.60 | $0.04 | - | - | $0.10 | $0.03 | $-0.02 | - | $-0.03 | $-0.09 | $-0.05 | - | $-0.03 | $-0.03 | $-0.05 | - | $-0.20 | $-0.28 |
| Avg Forecast | $0.54 | $0.52 | $0.50 | $0.49 | $0.48 | $0.47 | $0.46 | $0.44 | $0.41 | $0.42 | $0.40 | $0.38 | $0.38 | $0.38 | $0.35 | $0.27 | $0.34 | $0.30 | $0.27 | $0.25 | $0.23 | $0.21 | $0.19 | $0.17 | $0.17 | $0.14 | $0.12 | $0.05 | $0.04 | $-0.01 |
| High Forecast | $0.55 | $0.52 | $0.50 | $0.49 | $0.48 | $0.47 | $0.46 | $0.44 | $0.41 | $0.42 | $0.40 | $0.38 | $0.38 | $0.39 | $0.36 | $0.27 | $0.34 | $0.30 | $0.28 | $0.25 | $0.23 | $0.21 | $0.19 | $0.17 | $0.17 | $0.15 | $0.12 | $0.05 | $0.04 | $-0.01 |
| Low Forecast | $0.54 | $0.52 | $0.50 | $0.49 | $0.48 | $0.47 | $0.46 | $0.44 | $0.40 | $0.41 | $0.40 | $0.37 | $0.38 | $0.37 | $0.35 | $0.27 | $0.34 | $0.30 | $0.27 | $0.25 | $0.23 | $0.21 | $0.19 | $0.17 | $0.17 | $0.14 | $0.12 | $0.05 | $0.04 | $-0.01 |
| Surprise % | - | - | - | - | - | - | - | - | - | - | - | - | 1.56% | 0.10% | - | - | 0.29% | 0.10% | -0.07% | - | -0.13% | -0.44% | -0.29% | - | -0.17% | -0.21% | -0.40% | - | -4.53% | 26.00% |
According to 2 Wall Street analysts, Box's projected average Quarter EPS for May 24 is $0.38, with a low estimate of $0.37 and a high estimate of $0.38. This represents a -37.45% decrease compared to BOX previous annual EPS of $0.60 (Jan 24).
Box Peer Comparison by Price Target
| Ticker | Company | Last Closing Price | Avg Price Target | Upside/Downside | Avg Rating |
|---|---|---|---|---|---|
| DAVA | Endava | $23.97 | $56.30 | 134.88% | Buy |
| PAGS | PagSeguro Digital | $8.24 | $16.81 | 104.00% | Buy |
| MDB | MongoDB | $267.39 | $373.27 | 39.60% | Buy |
| AVDX | AvidXchange | $8.38 | $11.39 | 35.92% | Hold |
| VRSN | VeriSign | $177.86 | $240.00 | 34.94% | Buy |
| CCCS | CCC Intelligent Solutions | $10.66 | $13.67 | 28.24% | Buy |
| WEX | WEX | $172.05 | $219.83 | 27.77% | Hold |
| ZS | Zscaler | $184.90 | $232.54 | 25.77% | Buy |
| NET | Cloudflare | $86.49 | $95.00 | 9.84% | Hold |
| CSGS | CSG Systems | $47.66 | $52.00 | 9.11% | Buy |
| NTCT | NetScout Systems | $20.35 | $22.00 | 8.11% | Hold |
| CRWD | CrowdStrike | $298.88 | $321.14 | 7.45% | Buy |
| VMW | VMware | $142.48 | $149.13 | 4.67% | Hold |
| NTNX | Nutanix | $62.51 | $63.23 | 1.15% | Buy |
| BOX | Box | $32.50 | $32.75 | 0.77% | Buy |
| FLT | Corpay | $303.26 | $296.71 | -2.16% | Buy |
| FFIV | F5 | $231.20 | $224.44 | -2.92% | Hold |
| GEN | Gen Digital | $28.24 | $27.00 | -4.39% | Hold |
| EVTC | EVERTEC | $33.02 | $28.00 | -15.20% | Sell |
| GDDY | GoDaddy | $165.51 | $132.53 | -19.93% | Buy |
BOX Forecast FAQ
Is Box a good buy?
Yes, according to 23 Wall Street analysts, Box (BOX) is considered a 'Buy'. The rating consensus is based on 0 'Strong Buy' and 18 'Buy' recommendations, accounting for 78.26% of BOX's total ratings.
What is BOX's price target?
Box (BOX) average price target is $32.75 with a range of $21 to $41, implying a 0.77% from its last price of $32.5. The data is based on 23 Wall Street analysts who provided a twelve-month price target estimate in the last three months.
Will Box stock go up soon?
According to Wall Street analysts' prediction for BOX stock, the company can go up by 0.77% (from the last price of $32.5 to the average price target of $32.75), up by 26.15% based on the highest stock price target, and down by -35.38% based on the lowest stock price target.
Can Box stock reach $50?
BOX's average twelve months analyst stock price target of $32.75 does not support the claim that Box can reach $50 in the near future.
What are Box's analysts' financial forecasts?
Box's analysts financial forecasts for the fiscal year (Jan 2026) are as follows: average revenue is $1.16B (high $1.16B, low $1.16B), average EBITDA is $45.3M (high $45.43M, low $45.24M), average net income is $270.84M (high $271.91M, low $270.42M), average SG&A $582.91M (high $584.68M, low $582.21M), and average EPS is $1.85 (high $1.86, low $1.85). BOX's analysts financial forecasts for the fiscal year (Jan 2027) are as follows: average revenue is $1.22B (high $1.23B, low $1.22B), average EBITDA is $47.93M (high $48.07M, low $47.87M), average net income is $299.76M (high $300.94M, low $299.29M), average SG&A $616.8M (high $618.67M, low $616.06M), and average EPS is $2.05 (high $2.05, low $2.04).
Did the BOX's actual financial results beat the analysts' financial forecasts?
Based on Box's last annual report (Jan 2024), the company's revenue was $1.04B, beating the average analysts forecast of $1.04B by 0.10%. Apple's EBITDA was $101.99M, beating the average prediction of $47.47M by 114.88%. The company's net income was $116.25M, missing the average estimation of $159.34M by -27.04%. Apple's SG&A was $477.61M, missing the average forecast of $511.93M by -6.71%. Lastly, the company's EPS was $0.78, missing the average prediction of $1.39 by -43.91%. In terms of the last quarterly report (Jan 2024), Box's revenue was $262.88M, missing the average analysts' forecast of $263.28M by -0.15%. The company's EBITDA was $33.41M, beating the average prediction of $10.31M by 224.20%. Box's net income was $88.38M, beating the average estimation of $56.35M by 56.82%. The company's SG&A was $117.09M, missing the average forecast of $132.62M by -11.71%. Lastly, the company's EPS was $0.6, beating the average prediction of $0.385 by 56.01%