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  "documentTitle": "Box, Inc. (BOX)",
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  "notes": "Uses a before-after framing to illustrate the reduction in growth targets.",
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      "text": "revenue growth target: 12% - 16%",
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      "text": "In September 2020, Box yet again pushed out the timing of a growth re-acceleration from FY2023 to FY2024 and lowered its long term growth target to 12% - 16%.",
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      "text": "Box managed modest growth acceleration for the quarter, existing only if we consider the company's results on a sequential basis... we're hunting in its numbers each quarter for signs of promised acceleration.",
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      "text": "Part of the reason we struggle to underwrite Box's story of accelerating growth and expanding margins is the fact that Box has discussed initiatives to accelerate growth in the past, but not delivered on it...",
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      "text": "\"Part of the reason we struggle to underwrite Box’s story of accelerating growth and expanding margins is the fact that Box has discussed initiatives to accelerate growth in the past, but not delivered on it, and has had several different target models, consistently needing to walk them back\" — RBC Capital Markets, July 2021; \"Box managed modest growth acceleration for the quarter, existing only if we consider the company’s results on a sequential basis. In simpler terms, Box’s newly reported 10% growth in the first quarter of its fiscal 2022 was better than the 8% growth it earned during the fourth quarter of its fiscal 2021, but worse than the 13% growth it managed in its year-ago Q1. With Box, however, instead of judging it by normal rules, we’re hunting in its numbers each quarter for signs of promised acceleration. By that standard, Box met its own goals\" — TechCrunch, May 2021",
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      "text": "Source: Company transcripts, Company presentations, Wall Street research, public news articles. Note: Emphasis has been added by Starboard.",
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