Dropbox (NASDAQ:DBX) Given New $33.00 Price Target at Citigroup

Dropbox (NASDAQ:DBX) had its price target increased by Citigroup from $28.00 to $33.00 in a research note issued to investors on Friday,Benzinga reports. They currently have a neutral rating on the stock.

A number of other research firms have also recently issued reports on DBX. William Blair raised Dropbox from an “underperform” rating to a “market perform” rating in a report on Friday. Wall Street Zen raised shares of Dropbox from a “hold” rating to a “buy” rating in a report on Sunday, June 28th. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of Dropbox in a research note on Monday, June 1st. Weiss Ratings reiterated a “hold (c)” rating on shares of Dropbox in a research report on Friday, July 31st. Finally, Bank of America reissued an “underperform” rating on shares of Dropbox in a research note on Friday. One investment analyst has rated the stock with a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Reduce” and a consensus price target of $28.25.

Dropbox Stock Up 0.8%

Shares of DBX stock opened at $34.81 on Friday. The company has a market capitalization of $8.12 billion, a P/E ratio of 19.34, a P/E/G ratio of 3.78 and a beta of 0.64. Dropbox has a 12-month low of $21.69 and a 12-month high of $35.72. The firm has a 50-day moving average price of $29.08 and a 200 day moving average price of $26.46.

Dropbox (NASDAQ:DBX) last posted its quarterly earnings data on Thursday, August 6th. The company reported $0.75 earnings per share for the quarter, topping the consensus estimate of $0.74 by $0.01. Dropbox had a net margin of 17.49% and a negative return on equity of 25.65%. The company had revenue of $631.50 million during the quarter, compared to analyst estimates of $626.69 million. During the same quarter last year, the business posted $0.71 earnings per share. The company’s revenue was up .9% on a year-over-year basis. As a group, research analysts expect that Dropbox will post 2.09 earnings per share for the current year.

Insiders Place Their Bets

In other Dropbox news, Director Andrew William Moore sold 8,443 shares of the business’s stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $27.57, for a total transaction of $232,773.51. Following the completion of the sale, the director directly owned 4,737 shares of the company’s stock, valued at approximately $130,599.09. The trade was a 64.06% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CTO Ali Dasdan sold 5,666 shares of the company’s stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $27.56, for a total transaction of $156,154.96. Following the transaction, the chief technology officer owned 514,611 shares in the company, valued at approximately $14,182,679.16. The trade was a 1.09% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 130,945 shares of company stock valued at $3,565,129 over the last 90 days. Corporate insiders own 35.48% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in DBX. Wedge Capital Management L L P NC grew its stake in shares of Dropbox by 26.4% during the second quarter. Wedge Capital Management L L P NC now owns 3,005,173 shares of the company’s stock worth $82,552,000 after purchasing an additional 627,111 shares during the period. Baron Wealth Management LLC bought a new position in Dropbox during the second quarter worth about $263,000. GAMMA Investing LLC boosted its holdings in Dropbox by 26.2% during the second quarter. GAMMA Investing LLC now owns 9,554 shares of the company’s stock worth $262,000 after buying an additional 1,981 shares during the last quarter. Versant Capital Management Inc grew its position in shares of Dropbox by 23.3% during the 2nd quarter. Versant Capital Management Inc now owns 11,559 shares of the company’s stock worth $318,000 after buying an additional 2,182 shares during the period. Finally, Redwood Investment Management LLC grew its position in shares of Dropbox by 15.1% during the 1st quarter. Redwood Investment Management LLC now owns 45,701 shares of the company’s stock worth $1,038,000 after buying an additional 6,009 shares during the period. Institutional investors and hedge funds own 94.84% of the company’s stock.

Key Stories Impacting Dropbox

Here are the key news stories impacting Dropbox this week:

• Positive Sentiment: Dropbox reported fiscal second-quarter 2026 adjusted earnings of $0.75 per share, exceeding the $0.74 consensus estimate and improving from $0.71 a year earlier. Revenue of $631.5 million also topped expectations of $626.7 million. Dropbox Q2 Earnings and Revenues Top Estimates
• Positive Sentiment: Management raised its 2026 outlook, while improving core file, sync and sharing trends, growth in paying users and expanding artificial-intelligence capabilities provide potential support for future results. Dropbox Q2 Earnings Beat Estimates on Core FSS, 2026 Outlook Raised
• Positive Sentiment: Dropbox forecast third-quarter revenue of $627 million to $630 million, above the $625.9 million analyst consensus, signaling expectations for continued operating momentum. Dropbox Earnings Conference Call
• Positive Sentiment: The company’s AI-powered search initiatives could help differentiate Dropbox, improve content discovery and create new opportunities to increase engagement and monetization. Can Dropbox Redefine Itself Through AI-Powered Search?
• Neutral Sentiment: Despite the earnings beat, quarterly revenue increased only 0.9% year over year. This reinforces the view that Dropbox must accelerate growth beyond its mature core storage and collaboration business. Dropbox Shares Decline Despite Earnings Beat as Revenue Growth Disappoints

About Dropbox

Dropbox, Inc (NASDAQ: DBX) is a leading provider of cloud-based file storage, collaboration, and productivity tools. Founded in 2007 and headquartered in San Francisco, California, the company offers a suite of services designed to help individuals and organizations securely store, share, and manage digital content. Dropbox has grown from a simple file-syncing application into an integrated collaboration platform used by millions of customers around the globe.

At its core, Dropbox provides cloud storage plans tailored for consumers and businesses.