Dropbox (DBX) Coverage Initiated at KeyCorp

Equities research analysts at KeyCorp started coverage on shares of Dropbox (NASDAQ:DBX) in a research report issued to clients and investors on Tuesday, The Fly reports. The firm set an “overweight” rating on the stock.

A number of other analysts have also recently weighed in on the company. Nomura started coverage on Dropbox in a research report on Thursday, April 12th. They set a “reduce” rating and a $21.00 price target on the stock. DA Davidson increased their price target on Dropbox from $22.00 to $36.00 and gave the stock a “buy” rating in a research report on Monday. Macquarie started coverage on Dropbox in a research report on Tuesday. They set an “outperform” rating on the stock. Bank of America began coverage on Dropbox in a research report on Tuesday. They set a “neutral” rating on the stock. Finally, JPMorgan Chase began coverage on Dropbox in a report on Tuesday. They issued an “overweight” rating for the company. One analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $28.50.

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Shares of Dropbox stock opened at $29.02 on Tuesday. Dropbox has a twelve month low of $27.75 and a twelve month high of $34.83.

In related news, insider Arash Ferdowsi sold 2,333,333 shares of the stock in a transaction that occurred on Tuesday, March 27th. The stock was sold at an average price of $20.07, for a total value of $46,829,993.31. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

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Dropbox Company Profile

Dropbox Inc provides a collaboration platform worldwide. Its platform allows individuals, teams, and organizations to create, access, and share content online. The company was formerly known as Evenflow, Inc and changed its name to Dropbox, Inc in October 2009. Dropbox Inc was founded in 2007 and is headquartered in San Francisco, California.

The Fly

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