Dropbox (NASDAQ:DBX) announced its quarterly earnings results on Thursday. The company reported $0.13 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.04) by $0.17, Briefing.com reports. Dropbox had a negative return on equity of 6.57% and a negative net margin of 2.91%. The business had revenue of $428.20 million for the quarter, compared to the consensus estimate of $423.48 million. During the same period last year, the business posted $0.11 EPS. The business’s revenue was up 18.8% compared to the same quarter last year.
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DBX stock traded down $1.16 on Friday, hitting $19.80. 9,567,800 shares of the company’s stock were exchanged, compared to its average volume of 3,590,478. The stock has a market cap of $8.63 billion, a P/E ratio of -15.11 and a beta of 1.56. Dropbox has a 12-month low of $17.20 and a 12-month high of $27.15. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.18 and a current ratio of 1.18. The firm has a 50 day moving average price of $19.73 and a two-hundred day moving average price of $21.72.
A number of brokerages have recently issued reports on DBX. Nomura lifted their price target on Dropbox from $25.00 to $27.00 and gave the company a “buy” rating in a report on Friday. Macquarie dropped coverage on Dropbox in a research note on Thursday, September 26th. Canaccord Genuity dropped coverage on Dropbox in a research note on Friday, September 27th. Instinet upgraded Dropbox from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $18.92 to $25.00 in a research note on Tuesday, October 22nd. Finally, William Blair dropped coverage on Dropbox in a research note on Friday, August 9th. One equities research analyst has rated the stock with a sell rating and eleven have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $28.10.
In related news, CTO Quentin Clark sold 8,333 shares of the company’s stock in a transaction dated Thursday, October 24th. The stock was sold at an average price of $20.06, for a total value of $167,159.98. Also, General Counsel Bart Volkmer sold 16,584 shares of the company’s stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $21.00, for a total value of $348,264.00. Insiders sold a total of 84,276 shares of company stock valued at $1,666,898 in the last ninety days. 31.20% of the stock is currently owned by insiders.
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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