Dropbox, Inc. (NASDAQ:DBX) Receives $29.78 Consensus Price Target from Brokerages

Shares of Dropbox, Inc. (NASDAQ:DBXGet Free Report) have received an average recommendation of “Hold” from the ten brokerages that are presently covering the stock, MarketBeat.com reports. Three research analysts have rated the stock with a sell recommendation, four have issued a hold recommendation and three have issued a buy recommendation on the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $29.78.

Several research firms recently issued reports on DBX. JMP Securities lowered shares of Dropbox from an “outperform” rating to a “market perform” rating in a research report on Friday, February 16th. Bank of America cut Dropbox from a “buy” rating to an “underperform” rating and dropped their target price for the stock from $34.00 to $28.00 in a report on Friday, February 16th. JPMorgan Chase & Co. lowered Dropbox from an “overweight” rating to a “neutral” rating and decreased their price target for the company from $33.00 to $30.00 in a research note on Friday, February 16th. The Goldman Sachs Group lowered Dropbox from a “neutral” rating to a “sell” rating and dropped their price objective for the stock from $26.00 to $24.00 in a research note on Friday, February 16th. Finally, Citigroup reduced their target price on shares of Dropbox from $31.00 to $27.00 and set a “neutral” rating on the stock in a research note on Friday, March 22nd.

Check Out Our Latest Report on Dropbox

Insider Transactions at Dropbox

In other Dropbox news, CEO Andrew Houston sold 164,000 shares of the firm’s stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $23.86, for a total value of $3,913,040.00. Following the completion of the sale, the chief executive officer now owns 8,266,666 shares in the company, valued at approximately $197,242,650.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CFO Timothy Regan sold 3,000 shares of the business’s stock in a transaction on Friday, March 15th. The stock was sold at an average price of $24.02, for a total transaction of $72,060.00. Following the completion of the sale, the chief financial officer now owns 403,720 shares in the company, valued at $9,697,354.40. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Andrew Houston sold 164,000 shares of the firm’s stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $23.86, for a total value of $3,913,040.00. Following the completion of the transaction, the chief executive officer now owns 8,266,666 shares in the company, valued at approximately $197,242,650.76. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 271,721 shares of company stock worth $6,443,955. Insiders own 26.40% of the company’s stock.

Institutional Trading of Dropbox

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Swedbank AB acquired a new stake in Dropbox during the 1st quarter worth $1,754,000. Virtu Financial LLC acquired a new stake in shares of Dropbox during the first quarter worth $380,000. iA Global Asset Management Inc. grew its stake in shares of Dropbox by 34.4% during the first quarter. iA Global Asset Management Inc. now owns 9,128 shares of the company’s stock worth $222,000 after purchasing an additional 2,335 shares during the period. Tidal Investments LLC increased its holdings in Dropbox by 51.5% in the first quarter. Tidal Investments LLC now owns 12,804 shares of the company’s stock valued at $311,000 after purchasing an additional 4,350 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. lifted its stake in Dropbox by 0.7% in the first quarter. Jacobs Levy Equity Management Inc. now owns 4,670,151 shares of the company’s stock valued at $113,485,000 after buying an additional 32,600 shares during the period. 94.84% of the stock is owned by institutional investors.

Dropbox Price Performance

DBX stock opened at $22.34 on Tuesday. The stock has a market capitalization of $7.38 billion, a price-to-earnings ratio of 14.79, a price-to-earnings-growth ratio of 1.58 and a beta of 0.70. Dropbox has a 52-week low of $22.34 and a 52-week high of $33.43. The company has a 50-day moving average of $23.51 and a two-hundred day moving average of $26.74.

Dropbox (NASDAQ:DBXGet Free Report) last announced its quarterly earnings data on Thursday, May 9th. The company reported $0.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.28 by $0.13. The company had revenue of $631.30 million during the quarter, compared to analysts’ expectations of $628.81 million. Dropbox had a net margin of 20.50% and a negative return on equity of 148.13%. Equities analysts expect that Dropbox will post 1.26 EPS for the current fiscal year.

About Dropbox

(Get Free Report

Dropbox, Inc provides a content collaboration platform worldwide. The company's 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. It serves customers in professional services, technology, media, education, industrial, consumer and retail, and financial services industries.

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Analyst Recommendations for Dropbox (NASDAQ:DBX)

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