Dropbox Inc (NASDAQ:DBX) Given Average Recommendation of “Buy” by Analysts

Dropbox Inc (NASDAQ:DBX) has received an average recommendation of “Buy” from the eleven ratings firms that are covering the company, MarketBeat reports. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $31.86.

Several research analysts recently issued reports on the company. TheStreet lowered Primeenergy Resources from a “b-” rating to a “c” rating in a research report on Friday, July 5th. Zacks Investment Research upgraded shares of HB Fuller from a “sell” rating to a “hold” rating in a research report on Wednesday, July 3rd.

Shares of Dropbox stock traded down $0.68 during trading on Thursday, reaching $25.45. 3,888,263 shares of the company were exchanged, compared to its average volume of 3,648,288. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 0.78. Dropbox has a twelve month low of $18.50 and a twelve month high of $34.95. The business’s 50-day simple moving average is $24.12. The stock has a market cap of $12.21 billion, a price-to-earnings ratio of -19.43 and a beta of 1.40.

Dropbox (NASDAQ:DBX) last released its earnings results on Thursday, May 9th. The company reported ($0.01) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.06) by $0.05. Dropbox had a negative return on equity of 3.50% and a negative net margin of 1.85%. The company had revenue of $385.60 million during the quarter, compared to analysts’ expectations of $381.58 million. During the same period last year, the firm earned $0.08 EPS. The business’s revenue for the quarter was up 21.9% on a year-over-year basis. On average, analysts expect that Dropbox will post -0.12 earnings per share for the current fiscal year.

In related news, insider Yamini Rangan sold 4,129 shares of the business’s stock in a transaction dated Thursday, June 13th. The shares were sold at an average price of $23.95, for a total value of $98,889.55. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Quentin Clark sold 16,666 shares of the business’s stock in a transaction dated Monday, June 24th. The shares were sold at an average price of $25.01, for a total transaction of $416,816.66. The disclosure for this sale can be found here. In the last quarter, insiders have sold 111,959 shares of company stock worth $2,628,791. Corporate insiders own 31.20% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. BlackRock Inc. grew its stake in shares of Dropbox by 22.7% in the 4th quarter. BlackRock Inc. now owns 12,611,171 shares of the company’s stock valued at $257,646,000 after buying an additional 2,332,796 shares during the period. Private Advisor Group LLC raised its stake in shares of Dropbox by 11.3% during the fourth quarter. Private Advisor Group LLC now owns 12,214 shares of the company’s stock valued at $250,000 after acquiring an additional 1,240 shares during the last quarter. Bank of New York Mellon Corp raised its stake in shares of Dropbox by 186.9% during the fourth quarter. Bank of New York Mellon Corp now owns 101,536 shares of the company’s stock valued at $2,075,000 after acquiring an additional 66,146 shares during the last quarter. Advisor Group Inc. raised its stake in shares of Dropbox by 13.2% during the fourth quarter. Advisor Group Inc. now owns 47,932 shares of the company’s stock valued at $979,000 after acquiring an additional 5,576 shares during the last quarter. Finally, Standard Life Aberdeen plc bought a new position in shares of Dropbox during the fourth quarter valued at about $839,000. 28.72% of the stock is owned by institutional investors.

Dropbox Company Profile

Dropbox, Inc provides a collaboration platform worldwide. Its platform allows individuals, teams, and organizations to collaborate and sign up for free through its Website or app, as well as upgrade to a paid subscription plan for premium features. The company has approximately 500 million registered users across 180 countries.

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Analyst Recommendations for Dropbox (NASDAQ:DBX)

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