Q3 2018 EPS Estimates for Dropbox Inc Reduced by Piper Jaffray Companies (DBX)

Dropbox Inc (NASDAQ:DBX) – Analysts at Piper Jaffray Companies cut their Q3 2018 earnings per share (EPS) estimates for Dropbox in a note issued to investors on Friday, August 10th. Piper Jaffray Companies analyst A. Zukin now expects that the company will post earnings per share of $0.05 for the quarter, down from their prior forecast of $0.06. Piper Jaffray Companies currently has a “Overweight” rating and a $40.00 target price on the stock. Piper Jaffray Companies also issued estimates for Dropbox’s Q4 2018 earnings at $0.05 EPS, FY2018 earnings at $0.30 EPS and FY2019 earnings at $0.41 EPS.

Dropbox (NASDAQ:DBX) last announced its earnings results on Thursday, August 9th. The company reported $0.11 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.06 by $0.05. The business had revenue of $339.20 million during the quarter, compared to analyst estimates of $330.90 million. During the same quarter last year, the business posted $0.06 earnings per share. The business’s quarterly revenue was up 27.2% compared to the same quarter last year.



A number of other analysts have also weighed in on the company. Goldman Sachs Group started coverage on Dropbox in a research note on Tuesday, April 17th. They issued a “neutral” rating and a $27.00 target price for the company. Zacks Investment Research lowered Dropbox from a “buy” rating to a “hold” rating in a research note on Monday, July 16th. Macquarie started coverage on Dropbox in a research note on Tuesday, April 17th. They issued an “outperform” rating and a $34.00 target price for the company. JPMorgan Chase & Co. raised their target price on Dropbox to $35.00 and gave the company an “overweight” rating in a research note on Friday, May 11th. Finally, Bank of America started coverage on Dropbox in a research note on Tuesday, April 17th. They issued a “neutral” rating and a $31.00 target price for the company. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and ten have assigned a buy rating to the stock. Dropbox presently has a consensus rating of “Buy” and an average target price of $34.29.

Shares of NASDAQ:DBX opened at $28.97 on Monday. Dropbox has a twelve month low of $26.61 and a twelve month high of $43.50. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of -0.14.

Hedge funds have recently made changes to their positions in the stock. JPMorgan Chase & Co. acquired a new stake in Dropbox in the first quarter worth about $24,775,000. LPL Financial LLC acquired a new stake in Dropbox in the first quarter worth about $886,000. American Century Companies Inc. acquired a new stake in Dropbox in the first quarter worth about $2,031,000. BlackRock Inc. acquired a new stake in Dropbox in the first quarter worth about $327,409,000. Finally, Franklin Resources Inc. acquired a new stake in Dropbox in the first quarter worth about $1,728,000. Hedge funds and other institutional investors own 13.78% of the company’s stock.

Dropbox Company Profile

Dropbox Inc provides a collaboration platform worldwide. Its platform allows individuals, teams, and organizations to create, access, and share content online. The company was formerly known as Evenflow, Inc and changed its name to Dropbox, Inc in October 2009. Dropbox Inc was founded in 2007 and is headquartered in San Francisco, California.

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Earnings History and Estimates for Dropbox (NASDAQ:DBX)

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