Dropbox (DBX) Earns Neutral Rating from Analysts at Goldman Sachs

Equities researchers at Goldman Sachs started coverage on shares of Dropbox (NASDAQ:DBX) in a report released on Tuesday, The Fly reports. The brokerage set a “neutral” rating on the stock.

A number of other brokerages have also weighed in on DBX. Nomura began coverage on Dropbox in a research note on Thursday, April 12th. They issued a “reduce” rating and a $21.00 target price on the stock. DA Davidson upped their target price on Dropbox from $22.00 to $36.00 and gave the stock a “buy” rating in a research note on Monday. Finally, Jefferies Group began coverage on Dropbox in a research note on Tuesday. They issued a “hold” rating on the stock. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and seven have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $28.50.

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

In other news, insider Arash Ferdowsi sold 2,333,333 shares of the stock in a transaction dated Tuesday, March 27th. The stock was sold at an average price of $20.07, for a total transaction of $46,829,993.31. The sale was disclosed in a document filed with the SEC, 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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