Shares of Dropbox, Inc. (NASDAQ:DBX) have been assigned an average recommendation of “Buy” from the thirteen brokerages that are currently covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, four have given a hold rating and eight have assigned a buy rating to the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $33.40.
Several research firms recently issued reports on DBX. KeyCorp began coverage on shares of Dropbox in a report on Tuesday. They set an “overweight” rating and a $40.00 price objective for the company. Jefferies Group began coverage on shares of Dropbox in a report on Tuesday. They set a “hold” rating and a $31.00 price objective for the company. Canaccord Genuity began coverage on shares of Dropbox in a report on Tuesday. They set a “buy” rating and a $35.00 price objective for the company. Goldman Sachs began coverage on shares of Dropbox in a report on Tuesday. They set a “neutral” rating and a $27.00 price objective for the company. Finally, Deutsche Bank began coverage on shares of Dropbox in a report on Tuesday. They set a “buy” rating and a $36.00 price objective for the company.
In related news, insider Arash Ferdowsi sold 2,333,333 shares of the company’s stock in a transaction on Tuesday, March 27th. The shares were sold at an average price of $20.07, for a total transaction of $46,829,993.31. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
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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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