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BOX Expands European Footprint With New Offices in Poland
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Box (BOX - Free Report) inaugurated new Research and Development (R&D) offices in Warsaw, Poland, occupying ten floors of the recently completed Varso Tower.
Notably, these modern R&D offices offer flexible workspaces, allowing employees to work in a hybrid model.
Further, the offices feature open spaces, huddle rooms, social spaces, bars and gaming lounges with stunning Warsaw views.
The company plans to utilize Poland's abundant technical expertise in design, information security, finance and people operations with the new R&D offices.
Moreover, Box is expected to create several job opportunities in the country on the back of its latest move.
Reportedly, it has hired 300 employees since its debut in Poland.
The company's recent R&D offices are expected to accelerate innovative product developments, thanks to the robust talent pool in Poland.
Moreover, the recent move aligns with its deepening focus to strengthen its footprint across Europe.
Box’s opening of a new France Zone, allowing organizations to securely store content in France with a primary data center in Paris and a secondary in Marseille to offer enhanced visibility and data protection, remains noteworthy.
All the above-mentioned endeavors will likely aid Box in gaining momentum across European customers. This, in turn, will likely strengthen its overall financial performance in the near term and instill investor optimism in the stock.
Box expects fiscal 2024 revenues in the band of $1.040-$1.044 billion, indicating an increase of 5% from the fiscal 2023 level. The Zacks Consensus Estimate for the same is pegged at $1.04 billion, implying year-over-year growth of 5.2%.
However, increasing macroeconomic challenges globally and rising competition in the cloud market are major concerns.
Box has lost 16.4% in the year-to-date period, underperforming the industry’s growth of 55.9%.
Image: Shutterstock
BOX Expands European Footprint With New Offices in Poland
Box (BOX - Free Report) inaugurated new Research and Development (R&D) offices in Warsaw, Poland, occupying ten floors of the recently completed Varso Tower.
Notably, these modern R&D offices offer flexible workspaces, allowing employees to work in a hybrid model.
Further, the offices feature open spaces, huddle rooms, social spaces, bars and gaming lounges with stunning Warsaw views.
The company plans to utilize Poland's abundant technical expertise in design, information security, finance and people operations with the new R&D offices.
Moreover, Box is expected to create several job opportunities in the country on the back of its latest move.
Reportedly, it has hired 300 employees since its debut in Poland.
Box, Inc. Price and Consensus
Box, Inc. price-consensus-chart | Box, Inc. Quote
Move to benefit
The company's recent R&D offices are expected to accelerate innovative product developments, thanks to the robust talent pool in Poland.
Moreover, the recent move aligns with its deepening focus to strengthen its footprint across Europe.
Box’s opening of a new France Zone, allowing organizations to securely store content in France with a primary data center in Paris and a secondary in Marseille to offer enhanced visibility and data protection, remains noteworthy.
All the above-mentioned endeavors will likely aid Box in gaining momentum across European customers. This, in turn, will likely strengthen its overall financial performance in the near term and instill investor optimism in the stock.
Box expects fiscal 2024 revenues in the band of $1.040-$1.044 billion, indicating an increase of 5% from the fiscal 2023 level. The Zacks Consensus Estimate for the same is pegged at $1.04 billion, implying year-over-year growth of 5.2%.
However, increasing macroeconomic challenges globally and rising competition in the cloud market are major concerns.
Box has lost 16.4% in the year-to-date period, underperforming the industry’s growth of 55.9%.
Zacks Rank & Stocks to Consider
Currently, BOX carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the broader technology sector are Badger Meter (BMI - Free Report) , Arista Networks (ANET - Free Report) and Snowflake (SNOW - Free Report) . While Badger Meter sports a Zacks Rank #1 (Strong Buy), Arista Networks and Snowflake carry a Zacks Rank #2 (Buy) each. You can see the complete list of today’s Zacks #1 Rank stocks here.
Shares of Badger Meter have gained 37.8% in the year-to-date period. BMI’s long-term earnings growth rate is currently projected at 20.39%.
Shares of Arista Networks have surged 78.6% in the year-to-date period. The long-term earnings growth rate for ANET is currently projected at 19.77%.
Shares of Snowflake have gained 18% in the year-to-date period. SNOW’s long-term earnings growth rate is currently projected at 64.74%.