The Launch of Box Extract Makes Box, Inc. (BOX) A Promising Cloud Stock

Box, Inc. (NYSE:BOX) is one of the most promising cloud stocks according to analysts. On January 21, Citi analyst Steve Enders maintained his Buy rating on Box, Inc. (NYSE:BOX) stock, along with the price target of $40. The firm’s price target implies over 50% upside from the current levels.

Separately, on January 15, the company announced that Box Extract is now generally available. Leveraging advanced generative AI models from providers such as OpenAI, Google, and Anthropic, and paired with intelligent automated features, Box Extract enables enterprises to securely and intelligently extract critical information from their content and store it as metadata within Box.

A large number of companies have untapped data, and this product has made it easier than ever for the companies to utilize that data. With this platform, organizations can easily automate workflows, gain faster access to valuable information, and speed up decision-making.

Aaron Levie, co-founder and CEO of Box, explained how the product is beneficial:

”Enterprises are sitting on a gold mine of data in their untapped content. With Box Extract, that information is now unlocked and can transform how businesses analyze information and make decisions. By turning unstructured content into structured, usable data, organizations can deliver real-world impact by having their content actively work for them across their most important lines of business.”

Box, Inc. (NYSE:BOX) operates as a provider of a cloud content management platform. The company’s platform enables organizations of various sizes to share and manage their content from anywhere on any device across Japan and the US. Box, Inc. was founded in 2005 and is based in Redwood City, California.

READ NEXT:  Cathie Wood’s Stock Portfolio: Top 10 Stocks to Buy and 30 Most Fantastic Stocks Every Investor Should Pay Attention To.

Disclosure: None. This article is originally published at Insider Monkey.