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BOX Extends Microsoft Tie-Up, Boosts Generative AI Efforts
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Box (BOX - Free Report) recently extended its partnership with Microsoft (MSFT - Free Report) to integrate Azure OpenAI Service with Box AI.
Notably, Box customers can leverage advanced large language models of Azure OpenAI Service, adhering to Box and Microsoft's enterprise-grade standards for security, privacy and compliance.
Additionally, organizations across highly regulated industries can leverage generative AI capabilities for new use cases. For instance, financial services companies can extract valuable insights into market trends and economic indicators, while life sciences organizations can efficiently analyze clinical trial data for comprehensive understanding.
Also, public sector agencies can use AI to guide evidence-based decisions, insurance companies can find key information in claims reports, and legal firms can identify key terms in complex legal texts.
Box is expected to gain solid traction across various enterprises on the back of its latest move.
The latest move is in sync with the company’s growing focus to infuse generative AI capabilities into its solutions on the back of expanding partnerships.
Earlier, Box partnered with Microsoft to introduce a new plugin for the latter's AI workplace tool, Microsoft 365 Copilot, enhancing the usefulness of Box files within organizations.
Additionally, Box also announced several updates to its integrations with Microsoft’s 365 Copilot, allowing users to easily find, preview, access and work with Box files while collaborating with colleagues and partners.
Further, Box collaborated 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.
To Conclude
All the above-mentioned endeavors will aid the company in capitalizing on growth opportunities present in the global generative AI market.
Per a Statista report, the global generative AI market size is expected to hit $66.62 billion in 2024 and reach $207 billion by 2030, indicating a CAGR of 20.8% between 2024 and 2030.
Strength in the booming generative AI market will likely aid Box in strengthening 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.
However, macroeconomic pressures and rising cloud competition are major concerns for the company. Box has lost 0.3% in the past year, underperforming the Zacks Computer & Technology sector’s growth of 51%.
Image: Shutterstock
BOX Extends Microsoft Tie-Up, Boosts Generative AI Efforts
Box (BOX - Free Report) recently extended its partnership with Microsoft (MSFT - Free Report) to integrate Azure OpenAI Service with Box AI.
Notably, Box customers can leverage advanced large language models of Azure OpenAI Service, adhering to Box and Microsoft's enterprise-grade standards for security, privacy and compliance.
Additionally, organizations across highly regulated industries can leverage generative AI capabilities for new use cases. For instance, financial services companies can extract valuable insights into market trends and economic indicators, while life sciences organizations can efficiently analyze clinical trial data for comprehensive understanding.
Also, public sector agencies can use AI to guide evidence-based decisions, insurance companies can find key information in claims reports, and legal firms can identify key terms in complex legal texts.
Box is expected to gain solid traction across various enterprises on the back of its latest move.
Box, Inc. Price and Consensus
Box, Inc. price-consensus-chart | Box, Inc. Quote
Expanding Partnerships to Boost Gen AI Efforts
The latest move is in sync with the company’s growing focus to infuse generative AI capabilities into its solutions on the back of expanding partnerships.
Earlier, Box partnered with Microsoft to introduce a new plugin for the latter's AI workplace tool, Microsoft 365 Copilot, enhancing the usefulness of Box files within organizations.
Additionally, Box also announced several updates to its integrations with Microsoft’s 365 Copilot, allowing users to easily find, preview, access and work with Box files while collaborating with colleagues and partners.
Further, Box collaborated 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.
To Conclude
All the above-mentioned endeavors will aid the company in capitalizing on growth opportunities present in the global generative AI market.
Per a Statista report, the global generative AI market size is expected to hit $66.62 billion in 2024 and reach $207 billion by 2030, indicating a CAGR of 20.8% between 2024 and 2030.
Strength in the booming generative AI market will likely aid Box in strengthening 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.
However, macroeconomic pressures and rising cloud competition are major concerns for the company. Box has lost 0.3% in the past year, underperforming the Zacks Computer & Technology sector’s growth of 51%.
Zacks Rank & A Stock to Consider
Currently, BOX carries a Zacks Rank #3 (Hold).
A better-ranked stock in the broader technology sector is CrowdStrike (CRWD - Free Report) , sporting a Zacks Rank #1 (Strong Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
Shares of CrowdStrike have gained 25.7% in the year-to-date period. The long-term earnings growth rate for CRWD is 36.07%