Brokerages Expect Dropbox, Inc. (NASDAQ:DBX) Will Announce Quarterly Sales of $524.00 Million

Equities analysts expect Dropbox, Inc. (NASDAQ:DBX) to announce $524.00 million in sales for the current quarter, Zacks Investment Research reports. Four analysts have made estimates for Dropbox’s earnings, with the lowest sales estimate coming in at $523.49 million and the highest estimate coming in at $524.80 million. Dropbox posted sales of $467.40 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 12.1%. The business is expected to issue its next earnings report on Thursday, August 5th.

On average, analysts expect that Dropbox will report full year sales of $2.12 billion for the current financial year, with estimates ranging from $2.12 billion to $2.13 billion. For the next fiscal year, analysts forecast that the company will post sales of $2.32 billion, with estimates ranging from $2.30 billion to $2.33 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research firms that that provide coverage for Dropbox.

Dropbox (NASDAQ:DBX) last posted its quarterly earnings results on Thursday, May 6th. The company reported $0.35 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.15 by $0.20. Dropbox had a negative net margin of 12.59% and a positive return on equity of 43.70%. The firm had revenue of $511.60 million for the quarter, compared to the consensus estimate of $505.17 million. During the same quarter in the previous year, the company earned $0.17 earnings per share. The business’s revenue was up 12.4% compared to the same quarter last year.

A number of equities research analysts have weighed in on the stock. Zacks Investment Research downgraded shares of Dropbox from a “buy” rating to a “hold” rating in a research note on Tuesday, May 18th. DA Davidson reissued a “buy” rating on shares of Dropbox in a report on Wednesday, May 5th. TheStreet cut Dropbox from a “c-” rating to a “d+” rating in a report on Thursday, May 13th. Finally, The Goldman Sachs Group began coverage on Dropbox in a report on Friday, May 14th. They issued a “sell” rating and a $26.00 price target for the company. One research analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $26.75.

In related news, CFO Timothy Regan sold 4,147 shares of the business’s stock in a transaction that occurred on Wednesday, June 2nd. The stock was sold at an average price of $28.95, for a total value of $120,055.65. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Bart Volkmer sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, May 13th. The shares were sold at an average price of $24.49, for a total value of $244,900.00. The disclosure for this sale can be found here. Insiders have sold a total of 62,825 shares of company stock valued at $1,669,749 over the last 90 days. Corporate insiders own 23.75% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the stock. Wealthcare Advisory Partners LLC acquired a new position in shares of Dropbox in the 1st quarter valued at approximately $25,000. Ironwood Wealth Management LLC. bought a new stake in shares of Dropbox during the 4th quarter worth approximately $28,000. Westside Investment Management Inc. raised its stake in shares of Dropbox by 1,100.0% during the 1st quarter. Westside Investment Management Inc. now owns 1,200 shares of the company’s stock worth $31,000 after purchasing an additional 1,100 shares in the last quarter. Cullen Frost Bankers Inc. bought a new stake in shares of Dropbox during the 1st quarter worth approximately $61,000. Finally, Oder Investment Management LLC bought a new stake in shares of Dropbox during the 4th quarter worth approximately $63,000. Institutional investors and hedge funds own 66.65% of the company’s stock.

DBX traded down $0.22 during trading on Tuesday, reaching $29.53. 150,787 shares of the company’s stock were exchanged, compared to its average volume of 7,258,696. Dropbox has a fifty-two week low of $17.66 and a fifty-two week high of $29.86. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.89 and a quick ratio of 1.89. The firm has a 50 day moving average of $26.66. The company has a market cap of $11.85 billion, a P/E ratio of -49.25, a P/E/G ratio of 1.10 and a beta of 0.89.

About Dropbox

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. As of December 31, 2020, the company had approximately 700 million registered users across 180 countries.

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