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REDWOOD CITY, Calif. - Box, Inc. (NYSE:BOX), an Intelligent Content Management (ICM) platform provider with a market capitalization of $4.51 billion and impressive gross profit margins of 79%, has announced its receipt of the FedRAMP High Authorization, enabling U.S. government agencies and contractors to manage highly sensitive data using its services. This authorization includes Box AI and Box Hubs, which are now compliant with over 421 security controls. According to InvestingPro analysis, Box maintains a "GREAT" financial health score, positioning it well for continued government sector expansion.
The FedRAMP High Authorization to Operate (ATO), granted after a rigorous assessment by the U.S. Department of Veterans Affairs, signifies Box’s adherence to stringent security standards for handling sensitive information such as Personal Identifiable Information (PII) and Controlled Unclassified Information (CUI). Tom Cowles, Chief Compliance Officer at Box, emphasized that this achievement, along with the Department of Defense Impact Level 4 Authorization, allows government agencies to securely manage content, enhance employee experiences with AI, and replace outdated systems.
Box AI, unveiled in May 2023, provides advanced data extraction and Q&A capabilities from various unstructured formats, aiming to streamline content management processes. Box Hubs offers secure content collaboration and sharing, enhanced with the AI’s ability to provide accurate answers from documents. Additionally, Box AI APIs allow developers to incorporate AI-powered actions into custom applications, facilitating user experiences in citizen portals and automating content processing.
The company’s integration with other FedRAMP High-compliant platforms, such as Salesforce + Agentforce and Microsoft GCC High, ensures uninterrupted workflows for government agencies. Amy Machado, Senior Research Manager at IDC, noted the importance of vendors meeting high-security standards to protect federal data amidst the growing threat landscape.
Box’s platform is currently utilized by various U.S. government agencies across sectors like law enforcement and healthcare, supporting functions from public safety to business growth. The FedRAMP High Authorization is available to customers on Enterprise Plus and Enterprise Advanced plans.
This announcement is based on a press release statement from Box, Inc. For more details on Box’s FedRAMP High authorization and its services, interested parties can visit the Box website. InvestingPro subscribers can access 12 additional exclusive ProTips and comprehensive financial metrics to better understand Box’s market position and growth potential.
In other recent news, Box, Inc. has garnered attention from several analyst firms following its annual investor day and strategic advancements. DA Davidson has maintained a Buy rating on Box with a price target of $45, noting the company’s strong finish to fiscal year 2025, driven by customer upgrades for new artificial intelligence features. Raymond James also kept an Outperform rating with a $38 target, emphasizing Box’s integration of AI functionality and intelligent workflows, which they believe positions the company ahead of traditional content management systems. Citi analysts reiterated a Buy rating with a $39 price target, highlighting Box’s focus on AI strategies and its potential to accelerate revenue growth back into double digits. The company has improved its free cash flow margin forecast, now expecting 35-38%, and plans to reinvest savings from AI efficiencies. Box’s strategic direction, particularly in AI and workflow automation, has been recognized as a significant factor in its competitive edge and growth potential. Analyst firms have expressed confidence in Box’s ability to capitalize on these advancements, with DA Davidson and Raymond James both indicating a strong outlook for the company’s future performance.
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