Box, stock price rises due to news reports that it is considering selling

Box, a cloud-based content management service, was reportedly considering selling, and its share price rose on March 22. Anonymous sources said Reuters had talked about potential deals with buyers interested in buying Box. According to Reuters reports, hedge fund Starboard Value’s talkative investors aren’t actively taking advantage of the company’s telecommuting trend due to the pandemic of the new coronavirus infection (COVID-19). He is dissatisfied with the point and says that it was a story that arose under such pressure. Box announced higher-than-expected fourth-quarter earnings for fiscal year 2021 at the beginning of March. Sales were $ 198.9 million, up 8% year-on-year. For the full year 2021, it was $ 770.8 million, up 11% from the previous year. However, the company reported a decline in demand from small business customers in the middle of the fiscal year. Executives explained at a conference call after the announcement of the fourth quarter financial results that demand from small and medium-sized enterprises had recovered. “We expect the business for large enterprises to continue to be strong, recovering demand from SMEs and accelerating growth in the international market,” said Dylan Smith, CFO, for fiscal year 2022. Stated. Box submitted documents to the US Securities and Exchange Commission (SEC) on the 18th, saying that the deadline for notification of candidates for directors was extended to May 11.