Box CEO Aaron Levie said his company's interests are aligned with those of new investor Starboard.
"We're very aligned with Starboard's interests," Levie said in an interview on "Closing Bell." Box's stock price has jumped more than 15% in the two trading days since Starboard's announcement and ticked up further in extended trading on Thursday.
Levie declined to discuss the nature of the conversations between Box and Starboard. He said the company, which provides cloud-based collaboration and file-sharing software is focused on accelerating growth and improving profitability while cutting back on sales and marketing costs in the coming quarters.
Box is aiming to sell more of its products to each customer to yield more revenue from its existing client base. That approach could help explain why Starboard sees the stock as undervalued. "We see a tremendous amount of opportunity within our customer base, as well as the new logos we're going after," Levie said., excluding certain items, on revenue that was up 16% from the prior year. Even after the recent rally, the stock is up just 2.8% this year and remains down 27% over the past 12 months, badly trailing the S&P 500."I don't regret going public at all," he said.
México Últimas Noticias, México Titulares
Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.
Full interview with Box CEO on cybersecurity, cloud computing and activist investorsAaron Levie, co-founder and CEO of Box, joins CNBC's 'Closing Bell' to discuss the company's latest cybersecurity efforts and an activist hedge fund buying 11 million shares of company's stock.
Leer más »
'Never Boring': New Freddie Mercury 5-Disc Box Set Will Include Music, Visuals & Spoken WordThe first-ever comprehensive collection of FreddieMercury's solo material, 'Never Boring,' will be released
Leer más »
Instead of a Making a Better Chicken Sandwich, Jack in the Box Just Added More ChickenJack in the Box’s new chicken sandwich is just the old chicken sandwich, times four
Leer más »
Summer Box Office Wrap: Five Things We Learned From a Lackluster Popcorn SeasonSummer 2019: It was the best of times (for Disney), it was the worst of times (for basically any other studio). It’s been something of a mixed bag at the box office during the stretch between…
Leer más »
Box Office: Younger Audiences Deliver Silver Lining Amid Bummer SummerMillennials and Gen Z help a record number of films cross $1 billion globally, but the season ends 2 percent behind last year amid an art house swoon and a 'big gap right now between the haves and have-nots.'
Leer más »
David Bowie Box Set Collects Early Home Demos, ‘Space Oddity’ 2019 MixA new David Bowie box set will collect the singer’s 1968 and 1969 works, from home recordings to his work with guitarist John “Hutch” Hutchinson and the mime group Feathers
Leer más »