Dropbox Inc (DBX) Receives $33.71 Consensus Target Price from Analysts

Shares of Dropbox Inc (NASDAQ:DBX) have been given an average rating of “Buy” by the seventeen brokerages that are covering the stock, Marketbeat reports. Four research analysts have rated the stock with a hold recommendation and twelve have assigned a buy recommendation to the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $33.43.

A number of equities analysts have recently issued reports on DBX shares. Zacks Investment Research upgraded shares of Dropbox from a “hold” rating to a “buy” rating and set a $25.00 price objective for the company in a research note on Friday. Jefferies Financial Group dropped their price objective on shares of Dropbox to $32.00 in a research note on Friday, February 22nd. William Blair started coverage on shares of Dropbox in a research note on Tuesday, December 11th. They issued an “outperform” rating for the company. Bank of America upgraded shares of Dropbox from a “neutral” rating to a “buy” rating and set a $33.00 price objective for the company in a research note on Friday, February 22nd. Finally, ValuEngine cut shares of Dropbox from a “buy” rating to a “hold” rating in a research note on Monday, February 4th.

In other news, CFO Ajay Vashee sold 13,731 shares of the company’s stock in a transaction dated Friday, December 28th. The shares were sold at an average price of $21.00, for a total value of $288,351.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Yamini Rangan sold 5,633 shares of the company’s stock in a transaction dated Wednesday, February 20th. The stock was sold at an average price of $26.00, for a total transaction of $146,458.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 101,961 shares of company stock valued at $2,308,488.



Several institutional investors and hedge funds have recently bought and sold shares of DBX. Quantamental Technologies LLC bought a new stake in Dropbox during the 4th quarter worth about $33,000. Pearl River Capital LLC bought a new stake in Dropbox during the 4th quarter worth about $35,000. Advisory Services Network LLC grew its holdings in Dropbox by 272.7% during the 4th quarter. Advisory Services Network LLC now owns 2,050 shares of the company’s stock worth $42,000 after acquiring an additional 1,500 shares during the last quarter. Capital Investment Advisory Services LLC bought a new stake in Dropbox during the 4th quarter worth about $57,000. Finally, First Interstate Bank bought a new stake in Dropbox during the 4th quarter worth about $82,000. 32.08% of the stock is currently owned by institutional investors and hedge funds.

NASDAQ:DBX traded up $0.18 during trading hours on Friday, hitting $22.31. 2,352,985 shares of the company traded hands, compared to its average volume of 2,768,239. The stock has a market cap of $9.10 billion and a P/E ratio of -17.03. Dropbox has a twelve month low of $18.50 and a twelve month high of $43.50. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.45 and a quick ratio of 1.45.

Dropbox (NASDAQ:DBX) last released its earnings results on Thursday, February 21st. The company reported ($0.02) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.05) by $0.03. The firm had revenue of $375.90 million during the quarter, compared to analysts’ expectations of $369.64 million. Dropbox had a negative net margin of 34.84% and a negative return on equity of 77.19%. As a group, equities research analysts anticipate that Dropbox will post -0.14 EPS for the current year.

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 has strategic partnership with Zoom Video Communications, Inc Dropbox Inc was founded in 2007 and is headquartered in San Francisco, California.

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Analyst Recommendations for Dropbox (NASDAQ:DBX)

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