Shares of Dropbox Inc (NASDAQ:DBX) have received an average recommendation of “Buy” from the eleven research firms that are presently covering the stock, MarketBeat reports. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average 12 month target price among brokerages that have covered the stock in the last year is $31.86.
Several equities research analysts recently commented on the company. TheStreet lowered Primeenergy Resources from a “b-” rating to a “c” rating in a research report on Friday, July 5th. Zacks Investment Research upgraded HB Fuller from a “sell” rating to a “hold” rating in a research report on Wednesday, July 3rd.
In other Dropbox news, insider Quentin Clark sold 16,666 shares of the stock in a transaction that occurred on Wednesday, April 24th. The stock was sold at an average price of $23.51, for a total value of $391,817.66. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, General Counsel Bart Volkmer sold 12,176 shares of the stock in a transaction that occurred on Wednesday, May 22nd. The stock was sold at an average price of $23.33, for a total value of $284,066.08. The disclosure for this sale can be found here. In the last quarter, insiders sold 110,959 shares of company stock worth $2,606,881. Corporate insiders own 31.20% of the company’s stock.
Large investors have recently made changes to their positions in the business. Tortoise Index Solutions LLC bought a new position in Dropbox in the first quarter worth approximately $29,000. Ellevest Inc. bought a new position in shares of Dropbox in the first quarter valued at approximately $40,000. Advisory Services Network LLC lifted its holdings in shares of Dropbox by 272.7% in the fourth quarter. Advisory Services Network LLC now owns 2,050 shares of the company’s stock valued at $42,000 after purchasing an additional 1,500 shares in the last quarter. Icon Wealth Partners LLC bought a new position in shares of Dropbox in the first quarter valued at approximately $82,000. Finally, Evolution Wealth Advisors LLC lifted its holdings in shares of Dropbox by 2,087.0% in the first quarter. Evolution Wealth Advisors LLC now owns 4,374 shares of the company’s stock valued at $95,000 after purchasing an additional 4,174 shares in the last quarter. Institutional investors and hedge funds own 28.72% of the company’s stock.
Shares of Dropbox stock traded down $0.07 on Thursday, hitting $24.98. 2,279,688 shares of the company’s stock traded hands, compared to its average volume of 3,636,328. Dropbox has a one year low of $18.50 and a one year high of $34.95. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.16 and a quick ratio of 1.16. The firm’s fifty day moving average price is $24.28. The company has a market cap of $11.74 billion, a P/E ratio of -19.07 and a beta of 1.40.
Dropbox (NASDAQ:DBX) last announced its earnings results on Thursday, May 9th. The company reported ($0.01) EPS for the quarter, beating the consensus estimate of ($0.06) by $0.05. Dropbox had a negative return on equity of 3.50% and a negative net margin of 1.85%. The company had revenue of $385.60 million for the quarter, compared to analyst estimates of $381.58 million. During the same quarter in the prior year, the company earned $0.08 EPS. The firm’s revenue for the quarter was up 21.9% compared to the same quarter last year. As a group, analysts expect that Dropbox will post -0.12 EPS for the current year.
Dropbox Company Profile
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. The company has approximately 500 million registered users across 180 countries.
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