Dropbox, Inc. (NASDAQ:DBX) Receives $29.78 Average PT from Brokerages

Shares of Dropbox, Inc. (NASDAQ:DBX) have been assigned an average recommendation of “Hold” from the ten ratings firms that are covering the firm, MarketBeat Ratings reports. Three analysts have rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating on the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $29.78.

Several research analysts have recently weighed in on the company. KeyCorp boosted their target price on Dropbox from $32.00 to $37.00 and gave the stock an “overweight” rating in a report on Friday, January 19th. The Goldman Sachs Group cut Dropbox from a “neutral” rating to a “sell” rating and dropped their target price for the company from $26.00 to $24.00 in a report on Friday, February 16th. Citigroup reduced their price target on Dropbox from $31.00 to $27.00 and set a “neutral” rating on the stock in a report on Friday, March 22nd. Bank of America lowered shares of Dropbox from a “buy” rating to an “underperform” rating and dropped their price objective for the company from $34.00 to $28.00 in a report on Friday, February 16th. Finally, JPMorgan Chase & Co. downgraded shares of Dropbox from an “overweight” rating to a “neutral” rating and reduced their target price for the stock from $33.00 to $30.00 in a research note on Friday, February 16th.

Dropbox Price Performance

Shares of DBX stock opened at $23.37 on Friday. Dropbox has a 1-year low of $19.55 and a 1-year high of $33.43. The company has a market cap of $8.04 billion, a price-to-earnings ratio of 17.70, a PEG ratio of 2.62 and a beta of 0.70. The stock has a 50 day simple moving average of $23.76 and a 200-day simple moving average of $27.15.

Dropbox (NASDAQ:DBX) last released its quarterly earnings results on Thursday, February 15th. The company reported $0.25 earnings per share for the quarter, missing the consensus estimate of $0.26 by ($0.01). The company had revenue of $635.00 million for the quarter, compared to analyst estimates of $630.77 million. Dropbox had a negative return on equity of 120.82% and a net margin of 18.13%. Analysts anticipate that Dropbox will post 1.14 earnings per share for the current fiscal year.

Insider Activity

In other Dropbox news, insider Bart Volkmer sold 7,039 shares of the firm’s stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $24.02, for a total transaction of $169,076.78. Following the sale, the insider now owns 233,988 shares of the company’s stock, valued at $5,620,391.76. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Dropbox news, insider Bart Volkmer sold 7,039 shares of the firm’s stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $24.02, for a total transaction of $169,076.78. Following the transaction, the insider now owns 233,988 shares of the company’s stock, valued at $5,620,391.76. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Andrew Houston sold 82,000 shares of Dropbox stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $23.44, for a total value of $1,922,080.00. Following the sale, the chief executive officer now owns 8,266,666 shares in the company, valued at approximately $193,770,651.04. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 271,721 shares of company stock worth $6,443,955. 26.40% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. GAMMA Investing LLC purchased a new stake in shares of Dropbox during the fourth quarter worth approximately $25,000. Contravisory Investment Management Inc. acquired a new position in Dropbox in the 4th quarter valued at $26,000. Fifth Third Bancorp raised its position in Dropbox by 424.2% during the 3rd quarter. Fifth Third Bancorp now owns 1,085 shares of the company’s stock worth $30,000 after buying an additional 878 shares during the last quarter. Principal Securities Inc. acquired a new stake in shares of Dropbox in the 4th quarter worth $34,000. Finally, Sound Income Strategies LLC purchased a new stake in shares of Dropbox in the first quarter valued at about $28,000. 94.84% of the stock is owned by hedge funds and other institutional investors.

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.