Dropbox (NASDAQ:DBX – Get Free Report) had its price target reduced by analysts at Citigroup from $26.00 to $25.00 in a research note issued to investors on Wednesday, Benzinga reports. The firm presently has a “neutral” rating on the stock. Citigroup’s price target points to a potential upside of 11.51% from the stock’s previous close.
Dropbox Trading Up 2.7 %
NASDAQ:DBX opened at $22.42 on Wednesday. The stock has a market capitalization of $7.40 billion, a price-to-earnings ratio of 14.85, a PEG ratio of 1.52 and a beta of 0.68. The firm has a fifty day simple moving average of $22.70 and a two-hundred day simple moving average of $25.87. Dropbox has a 12 month low of $20.68 and a 12 month high of $33.43.
Dropbox (NASDAQ:DBX – Get Free Report) last released its quarterly earnings data on Thursday, May 9th. The company reported $0.41 earnings per share for the quarter, beating analysts’ consensus estimates of $0.28 by $0.13. Dropbox had a net margin of 20.50% and a negative return on equity of 148.13%. The firm had revenue of $631.30 million for the quarter, compared to analyst estimates of $628.81 million. Equities analysts predict that Dropbox will post 1.26 earnings per share for the current fiscal year.
Insider Buying and Selling
Institutional Investors Weigh In On Dropbox
Several institutional investors have recently added to or reduced their stakes in DBX. GAMMA Investing LLC bought a new position in Dropbox in the 4th quarter worth $25,000. Contravisory Investment Management Inc. bought a new position in shares of Dropbox in the 4th quarter worth about $26,000. Sound Income Strategies LLC bought a new position in shares of Dropbox in the 1st quarter worth about $28,000. Cary Street Partners Investment Advisory LLC increased its stake in shares of Dropbox by 29,175.0% in the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 1,171 shares of the company’s stock worth $32,000 after acquiring an additional 1,167 shares in the last quarter. Finally, Principal Securities Inc. bought a new position in shares of Dropbox in the 4th quarter worth about $34,000. Hedge funds and other institutional investors own 94.84% of the company’s stock.
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.
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