Dropbox (DBX) to Release Quarterly Earnings on Thursday

Dropbox (NASDAQ:DBX) will be announcing its earnings results after the market closes on Thursday, May 9th. Analysts expect the company to announce earnings of $0.49 per share for the quarter. Investors interested in listening to the company’s conference call can do so using this link.

Dropbox (NASDAQ:DBX) last issued its earnings results on Thursday, February 15th. The company reported $0.25 earnings per share for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.01). The business had revenue of $635.00 million during the quarter, compared to analyst estimates of $630.77 million. Dropbox had a net margin of 18.13% and a negative return on equity of 120.82%. On average, analysts expect Dropbox to post $1 EPS for the current fiscal year and $1 EPS for the next fiscal year.

Dropbox Stock Performance

Shares of DBX stock opened at $23.61 on Wednesday. Dropbox has a fifty-two week low of $21.19 and a fifty-two week high of $33.43. The company has a market cap of $8.12 billion, a PE ratio of 17.89, a P/E/G ratio of 2.62 and a beta of 0.70. The stock’s fifty day moving average price is $23.75 and its two-hundred day moving average price is $27.10.

Insider Activity

In other news, CEO Andrew Houston sold 82,000 shares of the business’s stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $23.44, for a total transaction of $1,922,080.00. Following the completion of the transaction, the chief executive officer now directly owns 8,266,666 shares in the company, valued at approximately $193,770,651.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Andrew Houston sold 82,000 shares of the company’s stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $23.44, for a total value of $1,922,080.00. Following the completion of the transaction, the chief executive officer now directly owns 8,266,666 shares in the company, valued at $193,770,651.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Timothy Regan sold 3,000 shares of the company’s stock in a transaction on Tuesday, April 30th. The stock was sold at an average price of $23.60, for a total transaction of $70,800.00. Following the completion of the transaction, the chief financial officer now owns 591,995 shares of the company’s stock, valued at $13,971,082. The disclosure for this sale can be found here. Insiders sold 271,721 shares of company stock worth $6,443,955 in the last three months. Corporate insiders own 26.40% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently issued reports on DBX. KeyCorp raised their target price on Dropbox from $32.00 to $37.00 and gave the stock an “overweight” rating in a research report on Friday, January 19th. JPMorgan Chase & Co. downgraded Dropbox from an “overweight” rating to a “neutral” rating and cut their price target for the company from $33.00 to $30.00 in a research note on Friday, February 16th. The Goldman Sachs Group downgraded Dropbox from a “neutral” rating to a “sell” rating and cut their target price for the stock from $26.00 to $24.00 in a research note on Friday, February 16th. JMP Securities cut shares of Dropbox from an “outperform” rating to a “market perform” rating in a report on Friday, February 16th. Finally, Citigroup lowered their price target on shares of Dropbox from $31.00 to $27.00 and set a “neutral” rating on the stock in a report on Friday, March 22nd. Three equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $29.78.

About Dropbox

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.