In yesterday’s Wall Street session, Dropbox Inc. (NASDAQ:DBX) shares traded at $26.66, down -1.41% from the previous session.
As of this writing, 15 analysts cover 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 $35.00 and a low of $22.00, we find $30.00. Given the previous closing price of $27.04, this indicates a potential upside of 10.95 percent. DBX stock price is now 0.25% away from the 50-day moving average and 15.17% away from the 200-day moving average. The market capitalization of the company currently stands at $9.22B.
There are 7 analysts who have given it a hold rating, whereas 6 have given it a buy rating. Brokers who have rated the stock have averaged $29.68 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 3,000 shares of the company’s stock on Aug 15. The stock was sold for $84,496 at an average price of $28.17. Upon completion of the transaction, the Chief Financial Officer now directly owns 514,252 shares in the company, valued at $13.71 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Aug 10, Chief Executive Officer Houston Andrew sold 162,500 shares of the business’s stock. A total of $4,498,796 was realized by selling the stock at an average price of $27.68. Insiders disposed of 1,566,653 shares of company stock worth roughly $41.77 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 LSV ASSET MANAGEMENT during the first quarter worth $18,339,000. WILBANKS SMITH & THOMAS ASSET MANAGEMENT LLC invested $11,418,000 in shares of DBX during the first quarter. In the first quarter, RETIREMENT SYSTEMS OF ALABAMA acquired a new stake in Dropbox Inc. valued at approximately $9,344,000. TEXAS PERMANENT SCHOOL FUND CORP acquired a new stake in DBX for approximately $6,383,000. MUTUAL OF AMERICA CAPITAL MANAGEMENT LLC purchased a new stake in DBX valued at around $5,262,000 in the second quarter. In total, there are 650 active investors with 82.90% ownership of the company’s stock.
Thursday morning saw Dropbox Inc. (NASDAQ: DBX) opened at $27.01. 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 $10.20B, which is based on a 14.86 price-to-earnings ratio, a 1.16 price-to-earnings-growth ratio, and a beta of 0.89. The fifty day moving average price for DBX is $26.65 and a two-hundred day moving average price translates $23.17 for the stock.
The latest earnings results from Dropbox Inc. (NASDAQ: DBX) was released for Jun, 2023. According to the Software – Infrastructure Company, earnings per share came in at $0.51, beating analysts’ expectations of $0.45 by 0.06. This compares to $0.17 EPS in the same period last year. The net profit margin was 21.60% and return on equity was -124.90% for DBX. The company reported revenue of $622.5 million for the quarter, compared to $572.7 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 8.7 percent. For the current quarter, analysts expect DBX to generate $627.74M 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.
