$0.41 EPS Expected for Dropbox, Inc. (NASDAQ:DBX) This Quarter

Equities analysts expect Dropbox, Inc. (NASDAQ:DBXGet Rating) to announce $0.41 earnings per share for the current fiscal quarter, according to Zacks Investment Research. Three analysts have provided estimates for Dropbox’s earnings, with estimates ranging from $0.38 to $0.45. Dropbox reported earnings of $0.40 per share in the same quarter last year, which would indicate a positive year over year growth rate of 2.5%. The firm is expected to announce its next quarterly earnings results on Monday, January 1st.

On average, analysts expect that Dropbox will report full year earnings of $1.66 per share for the current fiscal year, with EPS estimates ranging from $1.60 to $1.73. For the next year, analysts forecast that the company will post earnings of $1.91 per share, with EPS estimates ranging from $1.83 to $2.02. Zacks’ earnings per share averages are a mean average based on a survey of analysts that follow Dropbox.

Dropbox (NASDAQ:DBXGet Rating) last posted its quarterly earnings results on Thursday, May 5th. The company reported $0.38 earnings per share for the quarter, beating the consensus estimate of $0.19 by $0.19. The firm had revenue of $562.40 million for the quarter, compared to analyst estimates of $559.09 million. Dropbox had a negative return on equity of 146.35% and a net margin of 16.66%. Dropbox’s quarterly revenue was up 9.9% on a year-over-year basis. During the same period in the previous year, the firm earned $0.22 earnings per share.

DBX has been the topic of several research reports. JMP Securities dropped their target price on Dropbox from $39.00 to $30.00 in a research report on Friday, February 18th. William Blair reaffirmed an “outperform” rating on shares of Dropbox in a research report on Friday, February 18th. Finally, Zacks Investment Research lowered Dropbox from a “buy” rating to a “sell” rating in a research report on Monday, February 28th. Two analysts have rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, Dropbox presently has a consensus rating of “Hold” and a consensus target price of $30.83.

In related news, President Timothy H. Young sold 12,750 shares of the stock in a transaction that occurred on Monday, April 25th. The stock was sold at an average price of $22.34, for a total transaction of $284,835.00. Following the completion of the sale, the president now owns 1,878,877 shares in the company, valued at approximately $41,974,112.18. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Timothy Regan sold 2,500 shares of the stock in a transaction that occurred on Friday, March 25th. The shares were sold at an average price of $23.23, for a total value of $58,075.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 66,250 shares of company stock worth $1,456,778. 25.05% of the stock is currently owned by insiders.

A number of large investors have recently made changes to their positions in the stock. Covestor Ltd lifted its position in shares of Dropbox by 446.6% in the 1st quarter. Covestor Ltd now owns 1,372 shares of the company’s stock worth $32,000 after acquiring an additional 1,121 shares during the period. First Quadrant L P CA bought a new stake in shares of Dropbox in the 4th quarter worth approximately $35,000. CWM LLC bought a new stake in shares of Dropbox in the 4th quarter worth approximately $37,000. Prospera Financial Services Inc bought a new stake in shares of Dropbox in the 1st quarter worth approximately $40,000. Finally, Zullo Investment Group Inc. bought a new stake in shares of Dropbox in the 4th quarter worth approximately $41,000. Hedge funds and other institutional investors own 61.40% of the company’s stock.

NASDAQ:DBX opened at $20.77 on Wednesday. Dropbox has a 1-year low of $19.32 and a 1-year high of $33.00. The business’s fifty day moving average price is $22.25 and its 200 day moving average price is $23.92. The firm has a market capitalization of $7.93 billion, a price-to-earnings ratio of 22.10 and a beta of 0.89.

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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