Dropbox, Inc. (NASDAQ:DBX) Receives $27.50 Average Price Target from Analysts

Dropbox, Inc. (NASDAQ:DBX) has been assigned a consensus recommendation of “Hold” from the five research firms that are currently covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $27.50.

A number of brokerages recently commented on DBX. JPMorgan Chase & Co. decreased their price objective on Dropbox from $29.00 to $25.00 and set a “neutral” rating for the company in a research note on Friday, February 20th. Royal Bank Of Canada cut their target price on Dropbox from $35.00 to $30.00 and set an “outperform” rating on the stock in a research note on Friday, February 20th. Weiss Ratings restated a “hold (c+)” rating on shares of Dropbox in a report on Wednesday, January 21st. UBS Group lowered their price target on Dropbox from $27.00 to $23.00 and set a “sell” rating for the company in a research note on Friday, February 20th. Finally, Wall Street Zen downgraded shares of Dropbox from a “buy” rating to a “hold” rating in a research report on Friday, January 23rd.

Insider Activity

In other Dropbox news, CAO Sarah Elizabeth Schubach sold 1,415 shares of the stock in a transaction on Monday, March 16th. The shares were sold at an average price of $25.76, for a total value of $36,450.40. Following the sale, the chief accounting officer directly owned 83,489 shares in the company, valued at approximately $2,150,676.64. This trade represents a 1.67% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Ashraf Alkarmi sold 12,472 shares of the business’s stock in a transaction on Tuesday, March 3rd. The shares were sold at an average price of $26.00, for a total transaction of $324,272.00. Following the completion of the transaction, the insider directly owned 414,661 shares of the company’s stock, valued at $10,781,186. This trade represents a 2.92% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 453,028 shares of company stock worth $11,773,578 over the last three months. Company insiders own 29.95% of the company’s stock.

Institutional Investors Weigh In On Dropbox

Large investors have recently modified their holdings of the business. Rossby Financial LCC lifted its holdings in shares of Dropbox by 128.5% during the 3rd quarter. Rossby Financial LCC now owns 937 shares of the company’s stock valued at $28,000 after purchasing an additional 527 shares in the last quarter. Neo Ivy Capital Management bought a new stake in Dropbox during the 2nd quarter worth approximately $30,000. Palisade Asset Management LLC bought a new stake in Dropbox during the 3rd quarter worth approximately $30,000. First Horizon Corp acquired a new stake in Dropbox during the 3rd quarter worth approximately $31,000. Finally, Kestra Advisory Services LLC acquired a new stake in Dropbox during the 4th quarter worth approximately $31,000. 94.84% of the stock is currently owned by institutional investors.

Dropbox Trading Up 0.4%

Shares of NASDAQ DBX opened at $25.17 on Tuesday. The firm has a market capitalization of $6.07 billion, a PE ratio of 13.53, a price-to-earnings-growth ratio of 1.77 and a beta of 0.63. Dropbox has a 1 year low of $23.63 and a 1 year high of $32.40. The firm’s 50-day moving average is $25.59 and its 200-day moving average is $28.04.

Dropbox (NASDAQ:DBX) last posted its quarterly earnings results on Thursday, February 19th. The company reported $0.68 earnings per share for the quarter, topping analysts’ consensus estimates of $0.66 by $0.02. The business had revenue of $636.20 million during the quarter, compared to the consensus estimate of $627.83 million. Dropbox had a net margin of 20.17% and a negative return on equity of 37.47%. Dropbox’s revenue for the quarter was down 1.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.73 earnings per share. As a group, equities research analysts anticipate that Dropbox will post 1.64 earnings per share for the current fiscal year.

Dropbox Company Profile

Dropbox, Inc (NASDAQ: DBX) is a leading provider of cloud-based file storage, collaboration, and productivity tools. Founded in 2007 and headquartered in San Francisco, California, the company offers a suite of services designed to help individuals and organizations securely store, share, and manage digital content. Dropbox has grown from a simple file-syncing application into an integrated collaboration platform used by millions of customers around the globe.

At its core, Dropbox provides cloud storage plans tailored for consumers and businesses.