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Box, Fresh From Activist Win, Says Analysts Underestimate Growth

Company projects it will boost sales as much as 16% in 2024

Aaron Levie, chief executive officer and co-founder of Box.

Aaron Levie, chief executive officer and co-founder of Box.

Photographer: David Paul Morris/Bloomberg

Box Inc., the cloud software vendor that last month fended off an alternate board slate from activist investor Starboard Value LP, said analysts are underestimating future revenue growth.

The company projected sales growth of 12% to 16% in the 2024 fiscal year, above the 11% average estimate of analysts polled by Bloomberg. “Imagine that we want to be on the higher end of that,” Box Chief Executive Officer and Co-founder Aaron Levie, said in an interview. The analysts also expect 11% growth for the next two years.