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BOX Aids Enterprise Content Management With Crooze Buyout
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Box (BOX - Free Report) is making concerted efforts to expand its presence in the booming enterprise content management (ECM) market, which, per a Mordor Intelligence report, is expected to hit $77.20 billion in 2024 and reach $149.80 billion by 2029, indicating a CAGR of 14.2% between 2024 and 2029.
In a bid to expand its ECM solutions portfolio, Box acquired Crooze, a provider of no-code enterprise content management applications, to integrate Crooze’s advanced ECM capabilities into its robust set of content services.
With this acquisition, Box can leverage Crooze’s no-code builder for business-document applications, extensive metadata tools, customized dashboards, forms, document generation capabilities, and integration with Box Relay for automated content workflows.
This acquisition will enable Box to help organizations manage contract lifecycle, digital assets, controlled documents and enterprise content libraries.
Box is anticipated to gain solid traction across various enterprises on the back of its latest move.
Moreover, the Crooze acquisition will strengthen the company’s Content Could platform.
Apart from the Crooze acquisition, Box partnered with Alphabet (GOOGL - Free Report) to integrate Google Cloud’s generative AI capabilities to enhance enterprise work, integrating Vertex AI to improve data processing and analysis in Box Content Cloud.
The partnership with Alphabet will power Box's metadata extraction feature, which saves customers’ time by automatically identifying and tagging key context from documents, and matching metadata fields to attributes.
Box introduced Box Hubs, a Content Cloud solution that integrates with Box AI, enabling users to securely curate and publish content across the enterprise.
Further, all content published in a Hub retains enterprise-grade security, governance and compliance capabilities. Users can access all available Hubs via the new Box Hubs gallery, use robust search functionality, and view built-in insights to understand content performance and audience engagement.
Box recently partnered with CrowdStrike (CRWD - Free Report) to enhance cloud data security, integrating Box's secure content management with CrowdStrike's AI-powered platform, CrowdStrike Falcon.
This integration with CrowdStrike’s AI-powered platform enables users for real-time access control and threat prevention, allowing IT teams to detect malicious files and configure security policies.
Wrapping Up
All the above-mentioned endeavors to strengthen its content services will enable Box to enhance its workplace experience, which, in turn, will aid its overall financial performance in the upcoming period.
The Zacks Consensus Estimate for fiscal 2025 revenues is pegged at $1.08 billion, indicating an increase of 4.4% from the fiscal 2024 level.
The consensus mark for fiscal 2025 earnings is pegged at $1.70 per share, indicating growth of 19.2% from the year-ago quarter.
However, macroeconomic pressures and rising cloud competition are major concerns for the company. Box has lost 20.9% in the past year, underperforming the Zacks Computer & Technology sector’s growth of 48.2%.
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BOX Aids Enterprise Content Management With Crooze Buyout
Box (BOX - Free Report) is making concerted efforts to expand its presence in the booming enterprise content management (ECM) market, which, per a Mordor Intelligence report, is expected to hit $77.20 billion in 2024 and reach $149.80 billion by 2029, indicating a CAGR of 14.2% between 2024 and 2029.
In a bid to expand its ECM solutions portfolio, Box acquired Crooze, a provider of no-code enterprise content management applications, to integrate Crooze’s advanced ECM capabilities into its robust set of content services.
With this acquisition, Box can leverage Crooze’s no-code builder for business-document applications, extensive metadata tools, customized dashboards, forms, document generation capabilities, and integration with Box Relay for automated content workflows.
This acquisition will enable Box to help organizations manage contract lifecycle, digital assets, controlled documents and enterprise content libraries.
Box is anticipated to gain solid traction across various enterprises on the back of its latest move.
Moreover, the Crooze acquisition will strengthen the company’s Content Could platform.
Box, Inc. Price and Consensus
Box, Inc. price-consensus-chart | Box, Inc. Quote
Expanding Enterprise Content Management Solutions
Apart from the Crooze acquisition, Box partnered with Alphabet (GOOGL - Free Report) to integrate Google Cloud’s generative AI capabilities to enhance enterprise work, integrating Vertex AI to improve data processing and analysis in Box Content Cloud.
The partnership with Alphabet will power Box's metadata extraction feature, which saves customers’ time by automatically identifying and tagging key context from documents, and matching metadata fields to attributes.
Box introduced Box Hubs, a Content Cloud solution that integrates with Box AI, enabling users to securely curate and publish content across the enterprise.
Further, all content published in a Hub retains enterprise-grade security, governance and compliance capabilities. Users can access all available Hubs via the new Box Hubs gallery, use robust search functionality, and view built-in insights to understand content performance and audience engagement.
Box recently partnered with CrowdStrike (CRWD - Free Report) to enhance cloud data security, integrating Box's secure content management with CrowdStrike's AI-powered platform, CrowdStrike Falcon.
This integration with CrowdStrike’s AI-powered platform enables users for real-time access control and threat prevention, allowing IT teams to detect malicious files and configure security policies.
Wrapping Up
All the above-mentioned endeavors to strengthen its content services will enable Box to enhance its workplace experience, which, in turn, will aid its overall financial performance in the upcoming period.
The Zacks Consensus Estimate for fiscal 2025 revenues is pegged at $1.08 billion, indicating an increase of 4.4% from the fiscal 2024 level.
The consensus mark for fiscal 2025 earnings is pegged at $1.70 per share, indicating growth of 19.2% from the year-ago quarter.
However, macroeconomic pressures and rising cloud competition are major concerns for the company. Box has lost 20.9% in the past year, underperforming the Zacks Computer & Technology sector’s growth of 48.2%.
Zacks Rank & A Stock to Consider
Currently, BOX carries a Zacks Rank #3 (Hold).
A better-ranked stock in the broader technology sector is Vertiv (VRT - 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.
Shares of Vertiv have gained 283% in the past year. The long-term earnings growth rate for VRT is currently projected at 53.86%.