Dropbox, Inc. (NASDAQ:DBX) Receives $29.78 Consensus PT from Analysts

Shares of Dropbox, Inc. (NASDAQ:DBX) have been assigned a consensus rating of “Hold” from the ten analysts that are presently covering the company, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a sell recommendation, four have issued a hold recommendation and three have given a buy recommendation to the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $29.78.

DBX has been the subject of a number of analyst reports. The Goldman Sachs Group downgraded shares of Dropbox from a “neutral” rating to a “sell” rating and lowered their target price for the stock from $26.00 to $24.00 in a research note on Friday, February 16th. JPMorgan Chase & Co. lowered Dropbox from an “overweight” rating to a “neutral” rating and cut their target price for the stock from $33.00 to $30.00 in a research report on Friday, February 16th. Bank of America cut shares of Dropbox from a “buy” rating to an “underperform” rating and cut their price objective for the stock from $34.00 to $28.00 in a report on Friday, February 16th. KeyCorp upped their target price on shares of Dropbox from $32.00 to $37.00 and gave the company an “overweight” rating in a report on Friday, January 19th. Finally, JMP Securities lowered shares of Dropbox from an “outperform” rating to a “market perform” rating in a research note on Friday, February 16th.

Dropbox Trading Up 0.3 %

Shares of Dropbox stock opened at $23.61 on Friday. Dropbox has a twelve month low of $21.19 and a twelve month high of $33.43. The firm’s 50-day moving average price is $23.75 and its 200 day moving average price is $27.10. The firm has a market capitalization of $8.12 billion, a PE ratio of 17.89, a P/E/G ratio of 2.62 and a beta of 0.70.

Dropbox (NASDAQ:DBX) last issued its earnings results on Thursday, February 15th. The company reported $0.25 earnings per share for the quarter, missing the consensus estimate of $0.26 by ($0.01). Dropbox had a negative return on equity of 120.82% and a net margin of 18.13%. The company had revenue of $635.00 million for the quarter, compared to analyst estimates of $630.77 million. On average, sell-side analysts predict that Dropbox will post 1.14 EPS for the current fiscal year.

Insider Activity

In other Dropbox news, CFO Timothy Regan sold 3,000 shares of the company’s stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $24.02, for a total value of $72,060.00. Following the transaction, the chief financial officer now owns 403,720 shares in the company, valued at approximately $9,697,354.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, CFO Timothy Regan sold 3,000 shares of the stock in a transaction on Friday, March 15th. The shares were sold at an average price of $24.02, for a total transaction of $72,060.00. Following the transaction, the chief financial officer now owns 403,720 shares in the company, valued at approximately $9,697,354.40. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Bart Volkmer sold 7,039 shares of the company’s stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $24.02, for a total value of $169,076.78. Following the sale, the insider now directly owns 233,988 shares of the company’s stock, valued at approximately $5,620,391.76. The disclosure for this sale can be found here. Insiders have sold 271,721 shares of company stock worth $6,443,955 over the last 90 days. 26.40% of the stock is owned by company insiders.

Hedge Funds Weigh In On Dropbox

A number of institutional investors have recently made changes to their positions in the business. Stratos Wealth Partners LTD. raised its stake in shares of Dropbox by 1.8% in the 4th quarter. Stratos Wealth Partners LTD. now owns 23,086 shares of the company’s stock valued at $681,000 after buying an additional 415 shares in the last quarter. iA Global Asset Management Inc. increased its stake in shares of Dropbox by 6.1% in the 3rd quarter. iA Global Asset Management Inc. now owns 7,207 shares of the company’s stock valued at $196,000 after acquiring an additional 417 shares during the last quarter. Parallel Advisors LLC raised its holdings in Dropbox by 7.4% in the fourth quarter. Parallel Advisors LLC now owns 6,642 shares of the company’s stock worth $196,000 after purchasing an additional 459 shares during the period. Cooper Financial Group grew its stake in Dropbox by 3.1% in the first quarter. Cooper Financial Group now owns 15,581 shares of the company’s stock valued at $379,000 after acquiring an additional 462 shares during the period. Finally, Daiwa Securities Group Inc. increased its stake in Dropbox by 2.7% during the 3rd quarter. Daiwa Securities Group Inc. now owns 19,167 shares of the company’s stock worth $522,000 after purchasing an additional 500 shares in the last quarter. 94.84% of the stock is currently owned by institutional investors.

Dropbox 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.