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.
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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