Dropbox, Inc. (NASDAQ:DBX) Expected to Post Quarterly Sales of $569.38 Million

Wall Street brokerages forecast that Dropbox, Inc. (NASDAQ:DBXGet Rating) will post $569.38 million in sales for the current fiscal quarter, according to Zacks. Three analysts have provided estimates for Dropbox’s earnings, with estimates ranging from $569.30 million to $569.50 million. Dropbox posted sales of $530.60 million in the same quarter last year, which would indicate a positive year over year growth rate of 7.3%. The company is scheduled to announce its next earnings report on Monday, January 1st.

On average, analysts expect that Dropbox will report full-year sales of $2.32 billion for the current financial year, with estimates ranging from $2.32 billion to $2.33 billion. For the next fiscal year, analysts anticipate that the firm will post sales of $2.48 billion, with estimates ranging from $2.43 billion to $2.50 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Dropbox.

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 analysts’ consensus estimates of $0.19 by $0.19. The business had revenue of $562.40 million during the quarter, compared to analyst estimates of $559.09 million. Dropbox had a negative return on equity of 146.35% and a net margin of 16.66%. Dropbox’s revenue was up 9.9% on a year-over-year basis. During the same period in the previous year, the company posted $0.22 EPS.

Several research analysts have recently commented on DBX shares. William Blair reissued an “outperform” rating on shares of Dropbox in a research report on Friday, February 18th. JMP Securities reduced their target price on Dropbox from $39.00 to $30.00 in a research report on Friday, February 18th. Jefferies Financial Group reduced their target price on Dropbox from $35.00 to $30.00 in a research report on Monday, May 23rd. Finally, Zacks Investment Research lowered Dropbox from a “buy” rating to a “sell” rating in a research report on Monday, February 28th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the stock. According to MarketBeat, Dropbox presently has a consensus rating of “Buy” and an average price target of $29.80.

In related news, insider Bart Volkmer sold 11,000 shares of the company’s stock in a transaction dated Friday, March 11th. The stock was sold at an average price of $20.59, for a total value of $226,490.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Timothy Regan sold 2,500 shares of the company’s stock in a transaction dated Wednesday, May 25th. The stock was sold at an average price of $19.12, for a total value of $47,800.00. Following the completion of the transaction, the chief financial officer now directly owns 534,973 shares of the company’s stock, valued at approximately $10,228,683.76. The disclosure for this sale can be found here. Insiders sold 92,586 shares of company stock worth $1,968,511 in the last 90 days. Company insiders own 25.05% of the company’s stock.

Several institutional investors have recently made changes to their positions in DBX. Covestor Ltd raised its holdings in shares of Dropbox by 446.6% during the first quarter. Covestor Ltd now owns 1,372 shares of the company’s stock valued at $32,000 after acquiring an additional 1,121 shares during the last quarter. First Quadrant L P CA acquired a new position in shares of Dropbox during the fourth quarter valued at approximately $35,000. CWM LLC acquired a new position in shares of Dropbox during the fourth quarter valued at approximately $37,000. Prospera Financial Services Inc acquired a new position in shares of Dropbox during the first quarter valued at approximately $40,000. Finally, Zullo Investment Group Inc. acquired a new stake in shares of Dropbox in the fourth quarter valued at approximately $41,000. 61.40% of the stock is owned by institutional investors and hedge funds.

DBX opened at $21.49 on Friday. The firm has a market cap of $8.07 billion, a price-to-earnings ratio of 22.86 and a beta of 0.89. Dropbox has a 12 month low of $19.07 and a 12 month high of $33.00. The stock has a fifty day moving average price of $21.84 and a 200-day moving average price of $23.10.

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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