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

Shares of Dropbox, Inc. (NASDAQ:DBXGet Rating) have received a consensus recommendation of “Hold” from the seven ratings firms that are currently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and two have issued a buy rating on the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $30.75.

A number of equities analysts have commented on DBX shares. Zacks Investment Research cut shares of Dropbox from a “buy” rating to a “sell” rating in a research note on Monday, February 28th. William Blair reissued an “outperform” rating on shares of Dropbox in a research note on Friday, February 18th. JMP Securities dropped their price target on shares of Dropbox from $39.00 to $30.00 in a research note on Friday, February 18th. Finally, Jefferies Financial Group dropped their price target on shares of Dropbox from $35.00 to $30.00 in a research note on Monday.

Shares of DBX stock opened at $19.92 on Thursday. The company has a market capitalization of $7.48 billion, a price-to-earnings ratio of 21.19 and a beta of 0.89. The company’s fifty day moving average price is $22.08 and its 200-day moving average price is $23.36. Dropbox has a one year low of $19.07 and a one year high of $33.00.

Dropbox (NASDAQ:DBXGet Rating) last announced its quarterly 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 the consensus estimate of $559.09 million. Dropbox had a net margin of 16.66% and a negative return on equity of 146.35%. Dropbox’s revenue for the quarter was up 9.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.22 EPS. As a group, equities analysts expect that Dropbox will post 0.88 earnings per share for the current year.

In other news, President Timothy H. Young sold 12,750 shares of the business’s stock in a transaction dated Thursday, March 24th. The shares were sold at an average price of $23.09, for a total value of $294,397.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Bart Volkmer sold 11,000 shares of the business’s stock in a transaction dated Friday, March 11th. The shares were sold at an average price of $20.59, for a total transaction of $226,490.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 75,086 shares of company stock valued at $1,630,911. 25.05% of the stock is owned by corporate insiders.

Several hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. raised its position in Dropbox by 9.6% during the fourth quarter. BlackRock Inc. now owns 19,516,363 shares of the company’s stock worth $478,932,000 after acquiring an additional 1,713,923 shares during the period. Baupost Group LLC MA raised its holdings in Dropbox by 30.6% during the first quarter. Baupost Group LLC MA now owns 10,571,046 shares of the company’s stock worth $245,777,000 after purchasing an additional 2,476,021 shares in the last quarter. Renaissance Technologies LLC raised its holdings in Dropbox by 19.0% during the third quarter. Renaissance Technologies LLC now owns 9,593,602 shares of the company’s stock worth $280,325,000 after purchasing an additional 1,528,369 shares in the last quarter. State Street Corp raised its holdings in Dropbox by 1.4% during the fourth quarter. State Street Corp now owns 6,884,905 shares of the company’s stock worth $168,956,000 after purchasing an additional 92,393 shares in the last quarter. Finally, Geode Capital Management LLC raised its holdings in Dropbox by 9.4% during the fourth quarter. Geode Capital Management LLC now owns 6,361,635 shares of the company’s stock worth $155,968,000 after purchasing an additional 545,966 shares in the last quarter. 61.40% of the stock is currently owned by institutional investors and hedge funds.

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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