Box, Inc.’s ( BOX Quick Quote BOX - Free Report) persistent efforts to bolster cloud content management solution offerings have been helping it in expanding footprint in the booming cloud market. This is evident from its latest collaboration with the United States’ Department of Health and Human Services, Office of the Secretary (HHS). Notably, HHS has selected Box for cloud content management of its delivery of health services. HHS will manage COVID-19 vaccine logistics, secure and classify content, automate workflows to fasten healthcare services as well as make information accessible to internal and external partners by leveraging Box’s Digital Business Suite comprising Box Relay, Box Governance and Box Shield, among others. Moreover, with the help of the underlined collaboration, Box strives to give an advanced technical edge to U.S. healthcare services. We note that the latest move strengthens Box’s customer base. Expanding Clientele
The expanding client base will continue to help Box in accelerating revenue generation in the near term.
In addition to the recent collaboration, the Washington State Department of Health has partnered with Box to provide critical information related to the ongoing pandemic to healthcare facilities by leveraging the latter’s cloud content management platform. Further, Box has signed a five-year contract with the Defense Contract Management Agency (DCMA). Per the contract, DCMA will use Box’s cloud content management platform to support its workloads and reduce operating costs over the coming years. Additionally, the U.S. Department of the Air Force partnered with Box to leverage the latter’s platform to aid critical processes for the Air Education and Training Command and Air Combat Command. Portfolio Strength: Key Catalyst
Box’s expanding client base highlights the reliability and robustness of its strengthening product portfolio.
Recently, Box announced new integrations with Microsoft’s ( MSFT Quick Quote MSFT - Free Report) Office Software Suite, Microsoft 365. Notably, the company’s latest efforts include integrations of Box with Teams and Box Shield with Office 365 as well as new advancements in Box for Microsoft Office Online and Box Connector for Microsoft Graph. Apart from this, Box has teamed up with Cisco's ( CSCO Quick Quote CSCO - Free Report) Webex for the delivery of secured and effective cloud content to customers. Additionally, Box has introduced Box Shield with advanced security features to prevent accidental data leaks and protect cloud content. Further, the company’s launch of Box Shuttle remains noteworthy. Box Shuttle helps in seamless transfer of large content to the Box Content Cloud. Zacks Rank & Stock to Consider
Currently, Box carries a Zacks Rank #3 (Hold).
A better-ranked stock in the broader technology is KLA Corporation ( KLAC Quick Quote KLAC - Free Report) , which carries a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here. Long-term earnings growth rate for KLA Corp is currently projected at 14.03%. Zacks Names “Single Best Pick to Double”
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