Box, Inc.
BOX
recently announced the opening of its first Research and Development Engineering site in Warsaw, Poland.
The site will focus on expanding Box’s engineering capabilities. The provider of cloud content management platform plans to innovate and develop new products at this facility. The company, however, did not disclose the amount of investment for this project.
The site is expected to employ up to 150 local employees over the next two years. The hiring will be done across multiple functional areas including engineering, web development and people operations, among others.
In addition, it has appointed an engineering veteran, Rafal Szczepanski, to lead local operations.
Bottom Line
Box is currently enriching cloud content management and AI platforms by developing a rich technology partner ecosystem. Its platform is presently integrating with some of the biggest enterprise technology providers such as Microsoft, Apple, IBM, Google and Salesforce.
Over the past few years, the company has been making constant efforts to grow add-on products and expand on an international basis.
Box made its foray in Europe in 2012. Since then, it has made sincere efforts to expand therein. Currently, the company employs 200 engineers in Europe.
Markedly, it continues to expand international presence with more than 2,000 global employees based in the Americas, APAC and Europe.
The recent R&D facility complements the company’s innovative efforts and will likely lend support to its product developments, as the region offers skilled labor at reasonable rates.
Zacks Rank & Stocks to Consider
Currently, Box carries a Zacks Rank #3 (Hold). Some better-ranked stocks in the broader technology sector include
The Trade Desk Inc.
TTD
,
Dropbox, Inc.
DBX
and
Inuvo, Inc.
INUV
, 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 for The Trade Desk, Dropbox, and Inuvo is currently projected at 25%, 40.9% and 30%, respectively.
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