Box
BOX
company-wide has been selected by Lotte Corporation for cloud content management.
Box will bolster Lotte’s governance and security capabilities, and make an advancement in its Digital Transformation program.
In addition, it will strengthen Lotte’s communication and collaboration infrastructure for safe content collaboration, both inside and outside the company.
The recent partnership highlights the efficiency and reliability of Box’s cloud solutions.
Further, the recent move has added strength to the company’s customer base. This might contribute to its top-line growth in the near term.
Expanding Clientele
Box is making strong efforts to offer cloud management solutions according to customer needs. This in turn is driving the company’s customer loyalty and increasing the customer base.
Apart from the latest partnership, Box was picked by BT for organizing, managing, and distributing digital assets as well as secured collaboration with customer forums and external agencies.
Box was also chosen by the U.S. Department of Health and Human Servicesfor providing an advanced technical edge to healthcare services in the country.
In addition, the company was selected by the Washington State Department of Health for offering critical information related to the coronavirus pandemic and healthcare facilities by leveraging its cloud content management platform.
Box also signed a five-year contract with the Defense Contract Management Agency, wherein the latter will use Box’s cloud content management platform to support its workload and reduce operating costs over the coming years.
Portfolio Strength
Box’s expanding client base shows the reliability and robustness of its strengthening product portfolio.
Recently, the company rolled out its e-signature capability named Box Sign to help businesses digitize and modernize agreements in the cloud.
In addition, the company integrated with
Microsoft
’s
MSFT
Office Software Suite, Microsoft 365. This includes 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.
Box also 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 the seamless transfer of large content to the Box Content Cloud.
Zacks Rank & Stocks to Consider
Currently, Box carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the broader technology sector include
Advanced Micro Devices
AMD
and
ASML Holding
ASML
, each carrying a Zacks Rank #2 (Buy). You can see
the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here
.
Long-term earnings growth rates for Advanced Micro Devices and ASML Holding are currently projected at 44.6% and 33.5%, respectively.
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