Wall Street brokerages expect Dropbox Inc (NASDAQ:DBX) to report $0.06 earnings per share (EPS) for the current quarter, according to Zacks Investment Research. Seven analysts have issued estimates for Dropbox’s earnings. The highest EPS estimate is $0.08 and the lowest is $0.05. The firm is expected to report its next quarterly earnings results on Thursday, August 9th.
On average, analysts expect that Dropbox will report full-year earnings of $0.28 per share for the current fiscal year, with EPS estimates ranging from $0.23 to $0.34. For the next fiscal year, analysts expect that the company will post earnings of $0.40 per share, with EPS estimates ranging from $0.30 to $0.48. Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side research analysts that cover Dropbox.
Dropbox (NASDAQ:DBX) last posted its quarterly earnings results on Thursday, May 10th. The company reported $0.08 EPS for the quarter, beating the consensus estimate of $0.05 by $0.03. The business had revenue of $316.30 million during the quarter, compared to analysts’ expectations of $309.23 million. The firm’s quarterly revenue was up 27.6% compared to the same quarter last year. During the same quarter last year, the firm earned $0.02 EPS.
Several research firms have recently weighed in on DBX. Canaccord Genuity began coverage on Dropbox in a research note on Tuesday, April 17th. They issued a “buy” rating and a $35.00 price objective on the stock. Deutsche Bank began coverage on Dropbox in a research note on Tuesday, April 17th. They issued a “buy” rating and a $36.00 price objective on the stock. DA Davidson dropped coverage on Dropbox in a research note on Monday, April 16th. They issued a $22.00 price objective on the stock. Zacks Investment Research raised Dropbox from a “hold” rating to a “buy” rating and set a $34.00 price objective on the stock in a research note on Tuesday, May 22nd. Finally, Jefferies Financial Group began coverage on Dropbox in a research note on Tuesday, April 17th. They issued a “hold” rating and a $31.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and nine have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $33.43.
A number of hedge funds have recently bought and sold shares of DBX. BlackRock Inc. purchased a new stake in Dropbox during the 1st quarter worth approximately $327,409,000. Institutional Venture Management XIII LLC bought a new stake in shares of Dropbox in the 1st quarter valued at approximately $112,004,000. Baillie Gifford & Co. bought a new stake in shares of Dropbox in the 1st quarter valued at approximately $68,311,000. Federated Investors Inc. PA bought a new stake in shares of Dropbox in the 1st quarter valued at approximately $40,573,000. Finally, Massachusetts Financial Services Co. MA bought a new stake in shares of Dropbox in the 1st quarter valued at approximately $37,382,000. Institutional investors own 13.88% of the company’s stock.
DBX opened at $31.22 on Monday. Dropbox has a 12 month low of $27.75 and a 12 month high of $43.50.
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.
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