Dropbox, Inc. (NASDAQ:DBX – Get Rating) – Equities researchers at Jefferies Financial Group dropped their Q2 2023 earnings estimates for Dropbox in a note issued to investors on Sunday, May 22nd. Jefferies Financial Group analyst B. Thill now anticipates that the company will post earnings of $0.22 per share for the quarter, down from their previous forecast of $0.23. Jefferies Financial Group also issued estimates for Dropbox’s Q3 2023 earnings at $0.24 EPS, Q4 2023 earnings at $0.25 EPS and FY2023 earnings at $0.96 EPS.
DBX has been the topic of a number of other research reports. William Blair reiterated an “outperform” rating on shares of Dropbox in a research note on Friday, February 18th. JMP Securities decreased their price target on shares of Dropbox from $39.00 to $30.00 in a research note on Friday, February 18th. Finally, Zacks Investment Research lowered shares of Dropbox from a “buy” rating to a “sell” rating in a research note on Monday, February 28th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of $29.80.
Dropbox (NASDAQ:DBX – Get Rating) last issued its earnings results on Thursday, May 5th. The company reported $0.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.19 by $0.19. The company had revenue of $562.40 million for the quarter, compared to analysts’ expectations of $559.09 million. Dropbox had a net margin of 16.66% and a negative return on equity of 146.35%. Dropbox’s quarterly revenue was up 9.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.22 EPS.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. CWM LLC bought a new stake in Dropbox during the 4th quarter valued at $37,000. Fox Run Management L.L.C. purchased a new stake in shares of Dropbox during the 4th quarter valued at about $666,000. AlphaCrest Capital Management LLC boosted its holdings in shares of Dropbox by 56.9% during the 4th quarter. AlphaCrest Capital Management LLC now owns 175,644 shares of the company’s stock valued at $4,310,000 after acquiring an additional 63,667 shares during the last quarter. ProShare Advisors LLC lifted its stake in shares of Dropbox by 37.1% in the 4th quarter. ProShare Advisors LLC now owns 20,947 shares of the company’s stock worth $514,000 after purchasing an additional 5,671 shares during the period. Finally, GM Advisory Group Inc. lifted its stake in shares of Dropbox by 24.2% in the 4th quarter. GM Advisory Group Inc. now owns 19,845 shares of the company’s stock worth $487,000 after purchasing an additional 3,870 shares during the period. 61.40% of the stock is currently owned by institutional investors.
In other news, Director Karen Peacock sold 10,316 shares of Dropbox stock in a transaction dated Friday, May 20th. The shares were sold at an average price of $20.32, for a total transaction of $209,621.12. Following the completion of the transaction, the director now directly owns 16,964 shares in the company, valued at $344,708.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, President Timothy H. Young sold 12,750 shares of the business’s stock in a transaction dated Thursday, February 24th. The stock was sold at an average price of $20.78, for a total transaction of $264,945.00. The disclosure for this sale can be found here. Insiders have sold 87,836 shares of company stock valued at $1,895,856 in the last three months. 25.05% of the stock is owned by insiders.
Dropbox Company Profile (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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