Dropbox (NASDAQ:DBX) PT Lowered to $30.00 at Jefferies Financial Group

Dropbox (NASDAQ:DBXGet Rating) had its price target dropped by equities researchers at Jefferies Financial Group from $35.00 to $30.00 in a note issued to investors on Monday, The Fly reports. Jefferies Financial Group’s price target would indicate a potential upside of 46.56% from the company’s current price.

A number of other equities analysts have also weighed in on DBX. JMP Securities lowered their price objective on Dropbox from $39.00 to $30.00 in a research note on Friday, February 18th. Zacks Investment Research downgraded Dropbox from a “buy” rating to a “sell” rating in a report on Monday, February 28th. Finally, William Blair reiterated an “outperform” rating on shares of Dropbox in a report on Friday, February 18th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, Dropbox presently has a consensus rating of “Buy” and a consensus target price of $29.80.

Shares of DBX stock opened at $20.47 on Monday. Dropbox has a 1-year low of $19.32 and a 1-year high of $33.00. The stock’s 50-day moving average is $22.19 and its 200 day moving average is $23.46. The company has a market cap of $7.69 billion, a P/E ratio of 21.78 and a beta of 0.89.

Dropbox (NASDAQ:DBXGet Rating) last released its earnings results on Thursday, May 5th. The company reported $0.38 EPS for the quarter, topping analysts’ consensus estimates of $0.19 by $0.19. The firm had revenue of $562.40 million during the quarter, compared to the consensus estimate of $559.09 million. Dropbox had a negative return on equity of 146.35% and a net margin of 16.66%. The company’s revenue was up 9.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.22 earnings per share. On average, sell-side analysts predict that Dropbox will post 0.88 EPS for the current fiscal year.

In other Dropbox news, CFO Timothy Regan sold 2,500 shares of the stock in a transaction that occurred on Friday, March 25th. The stock was sold at an average price of $23.23, for a total transaction of $58,075.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, President Timothy H. Young sold 12,750 shares of the stock in a transaction that occurred on Thursday, February 24th. The stock was sold at an average price of $20.78, for a total value of $264,945.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 77,520 shares of company stock valued at $1,686,235. Insiders own 25.05% of the company’s stock.

Institutional investors have recently bought and sold shares of the business. Baupost Group LLC MA purchased a new position in shares of Dropbox during the 3rd quarter worth approximately $271,381,000. UBS Asset Management Americas Inc. raised its stake in shares of Dropbox by 111.0% during the 3rd quarter. UBS Asset Management Americas Inc. now owns 4,660,872 shares of the company’s stock worth $136,191,000 after buying an additional 2,452,130 shares in the last quarter. BlackRock Inc. raised its stake in shares of Dropbox by 9.6% during the 4th quarter. BlackRock Inc. now owns 19,516,363 shares of the company’s stock worth $478,932,000 after buying an additional 1,713,923 shares in the last quarter. Renaissance Technologies LLC raised its stake in shares of Dropbox by 19.0% during the 3rd quarter. Renaissance Technologies LLC now owns 9,593,602 shares of the company’s stock worth $280,325,000 after buying an additional 1,528,369 shares in the last quarter. Finally, Skandinaviska Enskilda Banken AB publ raised its stake in shares of Dropbox by 87.7% during the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 2,870,654 shares of the company’s stock worth $70,676,000 after buying an additional 1,341,062 shares in the last quarter. 61.40% of the stock is owned by institutional investors.

About Dropbox (Get Rating)

Dropbox, Inc provides a content collaboration platform worldwide. Its platform allows individuals, families, teams, and organizations to collaborate and sign up for free through its website or app, as well as upgrade to a paid subscription plan for premium features. As of December 31, 2021, the company had approximately 700 million registered users.

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