Dropbox (DBX) Now Covered by Jefferies Group

Equities research analysts at Jefferies Group initiated coverage on shares of Dropbox (NASDAQ:DBX) in a research report issued to clients and investors on Tuesday, The Fly reports. The firm set a “hold” rating on the stock.

Other research analysts have also recently issued research reports about the company. DA Davidson lifted their target price on Dropbox from $22.00 to $36.00 and gave the company a “buy” rating in a research report on Monday. Nomura began coverage on Dropbox in a research report on Thursday, April 12th. They issued a “reduce” rating and a $21.00 target price on the stock. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and seven have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $28.50.

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Shares of NASDAQ DBX opened at $29.02 on Tuesday. Dropbox has a 52 week low of $27.75 and a 52 week high of $34.83.

In other Dropbox news, insider Arash Ferdowsi sold 2,333,333 shares of Dropbox stock in a transaction dated Tuesday, March 27th. The stock was sold at an average price of $20.07, for a total value of $46,829,993.31. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

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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.

The Fly

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