William Blair reaffirmed their buy rating on shares of Dropbox (NASDAQ:DBX) in a research report released on Friday morning, Stock Target Advisor reports.
A number of other brokerages have also recently commented on DBX. BidaskClub raised Dropbox from a strong sell rating to a sell rating in a research note on Tuesday, February 11th. Nomura upped their price target on Dropbox from $25.00 to $27.00 and gave the company a buy rating in a research note on Friday, November 8th. Deutsche Bank upped their price target on Dropbox from $28.00 to $30.00 and gave the company a buy rating in a research note on Friday. Canaccord Genuity reaffirmed a buy rating and issued a $30.00 price target on shares of Dropbox in a research note on Friday. Finally, Royal Bank of Canada lowered their price target on Dropbox from $30.00 to $28.00 and set an outperform rating for the company in a research note on Friday. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and ten have given a buy rating to the company’s stock. Dropbox presently has an average rating of Buy and an average price target of $27.00.
Shares of NASDAQ:DBX opened at $21.76 on Friday. The stock has a market capitalization of $9.32 billion, a P/E ratio of -167.38 and a beta of 1.48. Dropbox has a 1-year low of $16.08 and a 1-year high of $26.20. The company has a current ratio of 1.20, a quick ratio of 1.20 and a debt-to-equity ratio of 0.99. The business has a 50-day moving average price of $18.26 and a two-hundred day moving average price of $18.71.
Dropbox (NASDAQ:DBX) last announced its quarterly earnings data on Thursday, February 20th. The company reported $0.16 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.01) by $0.17. The firm had revenue of $446.00 million during the quarter, compared to analysts’ expectations of $443.35 million. Dropbox had a negative return on equity of 3.67% and a negative net margin of 3.17%. The company’s quarterly revenue was up 18.6% compared to the same quarter last year. During the same period in the previous year, the business posted $0.10 EPS. As a group, equities analysts predict that Dropbox will post -0.04 EPS for the current year.
In related news, CAO Timothy Regan sold 2,000 shares of the business’s stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $17.97, for a total value of $35,940.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 31.20% of the stock is currently owned by insiders.
Several institutional investors and hedge funds have recently modified their holdings of the stock. PSI Advisors LLC acquired a new position in Dropbox during the 4th quarter worth approximately $35,000. Emerald Mutual Fund Advisers Trust acquired a new position in Dropbox during the 4th quarter worth approximately $57,000. Point72 Hong Kong Ltd boosted its position in Dropbox by 316.7% during the 4th quarter. Point72 Hong Kong Ltd now owns 3,709 shares of the company’s stock worth $66,000 after acquiring an additional 2,819 shares during the last quarter. Ladenburg Thalmann Financial Services Inc. boosted its position in Dropbox by 100.9% during the 4th quarter. Ladenburg Thalmann Financial Services Inc. now owns 4,759 shares of the company’s stock worth $84,000 after acquiring an additional 2,390 shares during the last quarter. Finally, RB Capital Management LLC boosted its position in Dropbox by 75.0% during the 4th quarter. RB Capital Management LLC now owns 7,875 shares of the company’s stock worth $142,000 after acquiring an additional 3,375 shares during the last quarter. Institutional investors and hedge funds own 45.64% of the company’s stock.
Dropbox Company Profile
Dropbox, Inc provides a collaboration platform worldwide. Its platform allows individuals, 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. The company has approximately 500 million registered users across 180 countries.
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