Dropbox, Inc. (NASDAQ:DBX) Given Average Rating of “Hold” by Brokerages

Dropbox, Inc. (NASDAQ:DBX – Get Rating) has been assigned an average recommendation of “Hold” from the nine ratings firms that are presently covering the company, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $31.80.

Several equities analysts have recently weighed in on DBX shares. JMP Securities decreased their price target on shares of Dropbox from $39.00 to $30.00 in a research note on Friday, February 18th. William Blair reissued an “outperform” rating on shares of Dropbox in a research note on Friday, February 18th. Finally, Zacks Investment Research cut shares of Dropbox from a “buy” rating to a “sell” rating in a research note on Monday, February 28th.

Shares of DBX opened at $21.75 on Friday. The stock has a market capitalization of $8.30 billion, a P/E ratio of 25.59 and a beta of 0.91. Dropbox has a twelve month low of $19.90 and a twelve month high of $33.00. The company has a 50 day moving average of $22.42 and a 200-day moving average of $24.52.

Dropbox (NASDAQ:DBX – Get Rating) last issued its quarterly earnings results on Thursday, February 17th. The company reported $0.26 earnings per share for the quarter, topping the consensus estimate of $0.20 by $0.06. The company had revenue of $565.50 million during the quarter, compared to analysts’ expectations of $557.66 million. Dropbox had a net margin of 15.56% and a negative return on equity of 235.32%. During the same period last year, the business earned $0.12 EPS. Equities research analysts forecast that Dropbox will post 0.91 EPS for the current year.

In other news, CFO Timothy Regan sold 2,500 shares of Dropbox stock in a transaction on Monday, April 25th. The stock was sold at an average price of $22.33, for a total transaction of $55,825.00. Following the completion of the sale, the chief financial officer now owns 558,661 shares of the company’s stock, valued at $12,474,900.13. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, President Timothy H. Young sold 12,750 shares of the firm’s stock in a transaction on Thursday, February 24th. The stock was sold at an average price of $20.78, for a total value of $264,945.00. The disclosure for this sale can be found here. Insiders have sold 66,250 shares of company stock valued at $1,456,778 in the last three months. Insiders own 25.05% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in the business. Morgan Stanley grew its holdings in shares of Dropbox by 195.6% during the second quarter. Morgan Stanley now owns 1,610,771 shares of the company’s stock worth $48,822,000 after purchasing an additional 1,065,858 shares during the last quarter. Commonwealth Equity Services LLC grew its holdings in shares of Dropbox by 0.9% during the third quarter. Commonwealth Equity Services LLC now owns 46,829 shares of the company’s stock worth $1,368,000 after purchasing an additional 438 shares during the last quarter. New York State Common Retirement Fund grew its holdings in shares of Dropbox by 1.4% during the third quarter. New York State Common Retirement Fund now owns 455,110 shares of the company’s stock worth $13,298,000 after purchasing an additional 6,110 shares during the last quarter. Cambridge Investment Research Advisors Inc. grew its holdings in shares of Dropbox by 2.0% during the third quarter. Cambridge Investment Research Advisors Inc. now owns 26,324 shares of the company’s stock worth $769,000 after purchasing an additional 508 shares during the last quarter. Finally, Raymond James Financial Services Advisors Inc. grew its holdings in shares of Dropbox by 195.4% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 48,557 shares of the company’s stock worth $1,419,000 after purchasing an additional 32,120 shares during the last quarter. Hedge funds and other institutional investors own 61.06% of the company’s stock.

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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