Dropbox, Inc. (NASDAQ:DBX) Given Average Recommendation of “Buy” by Analysts

Shares of Dropbox, Inc. (NASDAQ:DBXGet Rating) have earned an average recommendation of “Hold” from the seven analysts that are currently covering the firm, Marketbeat reports. One analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and two have issued a buy recommendation on the company. The average 12 month price objective among brokers that have covered the stock in the last year is $30.75.

Several analysts have recently commented on DBX shares. Jefferies Financial Group lowered their price target on shares of Dropbox from $35.00 to $30.00 in a research report on Monday. JMP Securities cut their price target on shares of Dropbox from $39.00 to $30.00 in a research note on Friday, February 18th. William Blair reaffirmed an “outperform” rating on shares of Dropbox in a research note on Friday, February 18th. Finally, Zacks Investment Research downgraded shares of Dropbox from a “buy” rating to a “sell” rating in a research note on Monday, February 28th.

NASDAQ:DBX opened at $19.92 on Thursday. The company has a fifty day moving average of $22.08 and a two-hundred day moving average of $23.36. The stock has a market capitalization of $7.48 billion, a PE ratio of 21.19 and a beta of 0.89. Dropbox has a fifty-two week low of $19.07 and a fifty-two week high of $33.00.

Dropbox (NASDAQ:DBXGet Rating) last issued its earnings results on Thursday, May 5th. The company reported $0.38 earnings per share for the quarter, beating the consensus estimate of $0.19 by $0.19. Dropbox had a net margin of 16.66% and a negative return on equity of 146.35%. The firm had revenue of $562.40 million for the quarter, compared to analysts’ expectations of $559.09 million. During the same quarter last year, the company earned $0.22 earnings per share. The firm’s revenue was up 9.9% compared to the same quarter last year. Equities research analysts predict that Dropbox will post 0.88 earnings per share for the current year.

In other news, President Timothy H. Young sold 12,750 shares of the firm’s stock in a transaction on Thursday, March 24th. The shares were sold at an average price of $23.09, for a total transaction of $294,397.50. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Timothy Regan sold 2,500 shares of the firm’s stock in a transaction on Friday, March 25th. The shares were sold at an average price of $23.23, for a total transaction of $58,075.00. The disclosure for this sale can be found here. Insiders sold a total of 75,086 shares of company stock valued at $1,630,911 in the last ninety days. Company insiders own 25.05% of the company’s stock.

Several large investors have recently bought and sold shares of DBX. Covestor Ltd boosted its position in shares of Dropbox by 446.6% during the 1st quarter. Covestor Ltd now owns 1,372 shares of the company’s stock valued at $32,000 after acquiring an additional 1,121 shares in the last quarter. First Quadrant L P CA acquired a new position in Dropbox in the fourth quarter valued at about $35,000. CWM LLC acquired a new position in Dropbox in the fourth quarter valued at about $37,000. Zullo Investment Group Inc. acquired a new position in Dropbox in the fourth quarter valued at about $41,000. Finally, Prospera Financial Services Inc acquired a new position in Dropbox in the first quarter valued at about $40,000. Institutional investors own 61.40% of the company’s stock.

Dropbox Company Profile (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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