Stock Alert: Box, Inc. Ascends 4% After Winning $6.2 Mln Contract

(RTTNews) - Shares of cloud content management company Box, Inc. (BOX) are climbing more than 4% Wednesday morning after the company announced that the Defense Contract Management Agency (DCMA), the contract administration services for the U.S. Department of Defense (DoD), issued a five year, $6.2 million contract for Box's enterprise cloud content management platform in September 2020, during Box's third quarter of fiscal year 2021.

"DCMA is leading an ambitious modernization agenda, leveraging the flexibility, scalability, and security of cloud solutions like Box. This will enable DCMA to deliver on its mission, increase the flexibility and resiliency of its workforce, and reduce operating costs over the coming years," said Sonny Hashmi, Managing Director, Global Public Sector, Box.

Box is FedRAMP compliant and received Department of Defense SRG Impact Level 4 authorization by the Defense Information Systems Agency (DISA).

With today's announcement, DCMA joins U.S. Air Force, USDA Forest Service and Farm Production and Conservation, National Institutes of Health, Department of Justice, and the District of Columbia Government who have leveraged Box to power new ways of working, the company said.

Box, currently at $19.13, has been trading in the range of $8.64- $22.09 in the last one year.