Dropbox, Inc. (NASDAQ:DBX) Receives an Average “Moderate Buy” Rating from Analysts


Dropbox, Inc. (NASDAQ: DBXGet a rating) has been assigned a consensus “moderate buy” recommendation by the seven rating agencies that currently cover the stock, Marketbeat.com reports. Two investment analysts rated the stock with a hold recommendation and four gave the company a buy recommendation. The 12-month average target price among brokerages that have updated their coverage on the stock over the past year is $28.50.

DBX has been the subject of several research reports. Bank of America launched coverage on Dropbox in a research note on Tuesday, September 6. They issued a “buy” rating and a price target of $34.00 on the stock. Citigroup began covering Dropbox in a report on Thursday, September 1. They set a “neutral” rating and a target price of $24.00 for the company. KeyCorp launched coverage on Dropbox in a Monday, September 12 report. They set an “overweight” rating and a target price of $30.00 for the company. Finally, Jefferies Financial Group reduced its target price on Dropbox from $30.00 to $28.00 and set a “buy” rating for the company in a research note on Monday.

Dropbox price performance

DBX NASDAQ opened at $22.02 on Monday. The stock has a market capitalization of $8.27 billion, a price-earnings ratio of 24.74, a PEG ratio of 2.81 and a beta of 0.81. Dropbox has a one-year minimum of $19.07 and a one-year maximum of $31.47. The company’s fifty-day moving average is $21.41 and its 200-day moving average is $21.82.

Drop box (NASDAQ: DBXGet a rating) last reported quarterly earnings data on Thursday, August 4. The company reported earnings per share (EPS) of $0.20 for the quarter, missing analyst consensus estimates of $0.21 per ($0.01). Dropbox had a net margin of 15.19% and a negative return on equity of 94.26%. The company posted revenue of $572.70 million in the quarter, versus a consensus estimate of $571.27 million. In the same quarter a year earlier, the company posted earnings per share of $0.24. The company’s revenue increased 7.9% year over year. Research analysts expect Dropbox to post EPS of 0.83 for the current fiscal year.

Insider trading at Dropbox

In related news, CFO Timothy Regan sold 3,000 shares in a trade on Tuesday, October 25. The stock was sold at an average price of $21.75, for a total transaction of $65,250.00. Following the sale, the CFO now directly owns 497,787 shares of the company, valued at $10,826,867.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, available at this link. In other Dropbox news, CFO Timothy Regan sold 3,000 shares in a trade dated Tuesday, October 25. The stock was sold at an average price of $21.75, for a total value of $65,250.00. Following the transaction, the CFO now owns 497,787 shares of the company, valued at $10,826,867.25. The transaction was disclosed in a document filed with the SEC, accessible via this hyperlink. Also, the president Timothy H. Young sold 15,000 shares of the company in a transaction dated Monday, October 24. The stock was sold at an average price of $21.51, for a total value of $322,650.00. Following completion of the transaction, the President now directly owns 1,539,623 shares of the company, valued at approximately $33,117,290.73. Disclosure of this sale can be found here. In the past three months, insiders have sold 363,496 shares of the company valued at $7,554,387. Insiders hold 25.05% of the shares of the company.

Dropbox Institutional Commerce

Several institutional investors and hedge funds have recently increased or reduced their stake in DBX. Ellevest Inc. increased its position in Dropbox shares by 6,231.6% in Q2. Ellevest Inc. now owns 1,203 shares of the company worth $25,000 after acquiring 1,184 additional shares in the last quarter. Covestor Ltd increased its stake in Dropbox by 446.6% during the 1st quarter. Covestor Ltd now owns 1,372 shares in the company worth $32,000 after buying an additional 1,121 shares in the last quarter. Allworth Financial LP increased its stake in Dropbox by 184.9% during the third quarter. Allworth Financial LP now owns 1,701 shares of the company worth $35,000 after buying an additional 1,104 shares in the last quarter. Prospera Financial Services Inc bought a new position in Dropbox during Q1 worth $40,000. Finally, Spire Wealth Management increased its stake in Dropbox by 112.7% in the 1st quarter. Spire Wealth Management now owns 1,808 shares of the company worth $42,000 after buying 958 additional shares in the last quarter. Institutional investors hold 60.57% of the company’s shares.

Dropbox company profile

(Get a rating)

Dropbox, Inc provides a worldwide content collaboration platform. Its 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. As of December 31, 2021, the company has approximately 700 million registered users.

Further reading

Analyst recommendations for Dropbox (NASDAQ: DBX)

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