Brokerages Expect Dropbox, Inc. (NASDAQ:DBX) Will Post Quarterly Sales of $558.59 Million

Brokerages predict that Dropbox, Inc. (NASDAQ:DBXGet Rating) will announce sales of $558.59 million for the current fiscal quarter, according to Zacks. Four analysts have provided estimates for Dropbox’s earnings, with the lowest sales estimate coming in at $558.50 million and the highest estimate coming in at $558.70 million. Dropbox reported sales of $511.60 million during the same quarter last year, which indicates a positive year-over-year growth rate of 9.2%. The company is expected to announce its next quarterly earnings report after the market closes on Monday, January 1st.

On average, analysts expect that Dropbox will report full-year sales of $2.33 billion for the current fiscal year. For the next fiscal year, analysts anticipate that the business will report sales of $2.51 billion, with estimates ranging from $2.50 billion to $2.52 billion. Zacks’ sales calculations are an average based on a survey of sell-side research firms that follow Dropbox.

Dropbox (NASDAQ:DBXGet Rating) last issued its earnings results on Thursday, February 17th. The company reported $0.26 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.20 by $0.06. Dropbox had a net margin of 15.56% and a negative return on equity of 235.32%. The firm had revenue of $565.50 million for the quarter, compared to analysts’ expectations of $557.66 million. During the same quarter last year, the company posted $0.12 earnings per share.

A number of equities analysts have issued reports on the stock. William Blair reissued an “outperform” rating on shares of Dropbox in a report on Friday, February 18th. JMP Securities cut their price target on Dropbox from $39.00 to $30.00 in a report on Friday, February 18th. Finally, Zacks Investment Research cut Dropbox from a “buy” rating to a “sell” rating in a report on Monday, February 28th. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $30.83.

In related news, insider Bart Volkmer sold 11,000 shares of the firm’s stock in a transaction that occurred on Monday, April 11th. The shares were sold at an average price of $22.62, for a total transaction of $248,820.00. Following the transaction, the insider now owns 379,668 shares in the company, valued at $8,588,090.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, President Timothy H. Young sold 12,750 shares of the firm’s stock in a transaction that occurred on Monday, January 24th. The shares were sold at an average price of $23.29, for a total transaction of $296,947.50. The disclosure for this sale can be found here. Insiders have sold 66,250 shares of company stock worth $1,472,315 in the last quarter. Company insiders own 23.75% of the company’s stock.

Institutional investors have recently bought and sold shares of the business. First Quadrant L P CA acquired a new position in Dropbox in the fourth quarter worth approximately $35,000. CWM LLC acquired a new position in Dropbox in the fourth quarter worth approximately $37,000. Zullo Investment Group Inc. acquired a new position in Dropbox in the fourth quarter worth approximately $41,000. Spire Wealth Management grew its position in Dropbox by 112.7% in the first quarter. Spire Wealth Management now owns 1,808 shares of the company’s stock worth $42,000 after buying an additional 958 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. boosted its stake in Dropbox by 194,600.0% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 1,947 shares of the company’s stock worth $48,000 after purchasing an additional 1,946 shares during the period. Hedge funds and other institutional investors own 61.06% of the company’s stock.

Shares of NASDAQ DBX opened at $21.94 on Friday. The firm’s 50-day moving average price is $22.61 and its two-hundred day moving average price is $24.78. Dropbox has a 52-week low of $19.90 and a 52-week high of $33.00. The stock has a market capitalization of $8.37 billion, a P/E ratio of 25.81 and a beta of 0.91.

About Dropbox (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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