Iron Mountain Wins Award For Cloud-Based Platform InSight

Iron Mountain Incorporated (NYSE:IRM) recently received the 2018 Google (NASDAQ:GOOGL) Cloud Global Technology Partner of the Year for AI and Machine Learning award. The award was presented to the company at Google Cloud Next '19 in San Francisco.

Last October, Iron Mountain delivered the company’s SaaS content-services platform, InSight, by combining its data and content management expertise with Google Cloud's AI and machine-learning capabilities.

The subscription-based platform uses unique classification techniques to sort, structure, context customers' content according to their needs. Further, the AI-based content analytics and visual search interface in InSight will enable companies to find new revenue- and cost-saving opportunities. InSight has made the Google Cloud platform commercially available for organizations. In addition, it enables customers to efficiently analyze massive physical- and digital-data repositories in order to improve decision making.

Most firms are unable to unlock value from their massive archives of unstructured data due to insufficient internal resources and capabilities. Bridging this gap, InSight provides content analytics and information-management capabilities, creating new revenue sources for the firms.

Per Kevin Ichhpurani, corporate vice president, Global Partner Ecosystem at Google Cloud, the award recognizes Iron Mountain’s “innovative work on behalf of Google Cloud customers over the past year.”

Per Iron Mountain management, InSight has aided the company’s customers on their digital transformation journey that has enabled customers to unlock new growth and revenue sources. With the help of InSight, companies can easily access, search, correlate and gain knowledge of all data assets in a single platform.

These efforts, along with other transformation initiatives, including expansion of data-center business, will likely drive the company’s long-term growth. Nonetheless, the costs of such moves hurt its financials, especially as the company already has a highly leveraged balance sheet.

Shares of this Zacks Rank #3 (Hold) company have underperformed its industry, over the past three months. Its shares have gained 3.6%, while the industry has rallied 12.6%, during the same time frame.

Stocks to Consider

Investors can consider better-ranked stocks from the same space like Terreno Realty Corporation (NYSE:TRNO) , Cousins Properties Incorporated (NYSE:CUZ) and Alexandria Real Estate Equities, Inc (NYSE:ARE) , carrying a Zacks Rank of 2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Terreno Realty’s funds from operations (FFO) per share estimates for 2019 remained unchanged at $1.42, in the past month. In addition, it has a long-term growth rate of 8.40%.

Cousins Properties’ Zacks Consensus Estimate for first-quarter 2019 FFO per share has been revised marginally upward to 20 cents in the past two months. Moreover, it has a long-term growth rate of 3.50%.

Alexandria’s FFO per share estimate for the ongoing year has been revised marginally north to $6.96 in two months’ time. Additionally, it has a long-term growth rate of 4.40%.

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