The price of Dropbox Inc. (NASDAQ:DBX) shares last traded on Wall Street fell -2.10% to $27.51.
Based on available information, 15 analysts follow Dropbox Inc. (NASDAQ:DBX). The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $34.00 and a low of $18.00, we find $27.20. Given the previous closing price of $28.10, this indicates a potential downside of -3.2 percent. DBX stock price is now 11.36% away from the 50-day moving average and 22.05% away from the 200-day moving average. The market capitalization of the company currently stands at $9.79B.
Among analysts, 6 rate the stock a hold while 6 rate it a buy. Brokers who have rated the stock have averaged $27.64 as their price target over the next twelve months.
With the price target enhanced from $22 to $25, Goldman Upgraded its rating from Sell to Neutral for Dropbox Inc. (NASDAQ: DBX).
In other news, Regan Timothy, Chief Financial Officer sold 3,231 shares of the company’s stock on Jul 18. The stock was sold for $90,468 at an average price of $28.00. Upon completion of the transaction, the Chief Financial Officer now directly owns 621,329 shares in the company, valued at $17.09 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Jul 11, Chief Legal Officer Volkmer Bart sold 10,000 shares of the business’s stock. A total of $275,486 was realized by selling the stock at an average price of $27.55. This leaves the insider owning 331,307 shares of the company worth $9.11 million. Insiders disposed of 1,646,097 shares of company stock worth roughly $45.28 million over the past 1 year. A total of 3.90% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in DBX stock. A new stake in Dropbox Inc. shares was purchased by DDD PARTNERS, LLC during the first quarter worth $11,799,000. TWINBEECH CAPITAL LP invested $9,976,000 in shares of DBX during the first quarter. In the first quarter, BNP PARIBAS ASSET MANAGEMENT HOLDING S.A. acquired a new stake in Dropbox Inc. valued at approximately $9,563,000. CONNOR, CLARK & LUNN INVESTMENT MANAGEMENT LTD. acquired a new stake in DBX for approximately $9,364,000. VINVA INVESTMENT MANAGEMENT LTD purchased a new stake in DBX valued at around $4,803,000 in the second quarter. In total, there are 680 active investors with 82.90% ownership of the company’s stock.
A candlestick chart of Dropbox Inc. (NASDAQ: DBX) showed a price of $27.90 on Thursday morning. During the past 12 months, Dropbox Inc. has had a low of $18.71 and a high of $28.68. According to the stock market information, the enterprise value for the company is $10.64B, which is based on a 14.97 price-to-earnings ratio, a 1.24 price-to-earnings-growth ratio, and a beta of 0.90. The fifty day moving average price for DBX is $24.82 and a two-hundred day moving average price translates $22.57 for the stock.
The latest earnings results from Dropbox Inc. (NASDAQ: DBX) was released for Mar, 2023. According to the Software – Infrastructure Company, earnings per share came in at $0.42, beating analysts’ expectations of $0.36 by 0.06. This compares to $0.21 EPS in the same period last year. The net profit margin was 22.90% and return on equity was -120.00% for DBX. The company reported revenue of $611.1 million for the quarter, compared to $562.4 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 8.66 percent. For the current quarter, analysts expect DBX to generate $613.78M in revenue.
Dropbox Inc.(DBX) Company Profile
Dropbox, Inc. provides a content collaboration platform worldwide. The company’s platform allows individuals, families, 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. It serves customers in professional services, technology, media, education, industrial, consumer and retail, and financial services industries. The company was formerly known as Evenflow, Inc. and changed its name to Dropbox, Inc. in October 2009. Dropbox, Inc. was incorporated in 2007 and is headquartered in San Francisco, California.
