Dropbox (DBX) Scheduled to Post Earnings on Thursday

Dropbox (NASDAQ:DBX) is scheduled to be announcing its earnings results after the market closes on Thursday, November 8th. Analysts expect the company to announce earnings of $0.06 per share for the quarter.

Dropbox (NASDAQ:DBX) last announced its earnings results on Thursday, August 9th. The company reported $0.11 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.06 by $0.05. The company had revenue of $339.20 million during the quarter, compared to analyst estimates of $330.90 million. During the same quarter last year, the business earned $0.06 EPS. The firm’s revenue for the quarter was up 27.2% compared to the same quarter last year. On average, analysts expect Dropbox to post $0 EPS for the current fiscal year and $0 EPS for the next fiscal year.

Shares of NASDAQ DBX opened at $24.05 on Wednesday. Dropbox has a 52-week low of $21.36 and a 52-week high of $43.50. The company has a current ratio of 1.39, a quick ratio of 1.39 and a debt-to-equity ratio of 0.12.

In related news, CFO Ajay Vashee sold 13,731 shares of the business’s stock in a transaction dated Wednesday, October 24th. The shares were sold at an average price of $22.78, for a total transaction of $312,792.18. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Quentin Clark sold 16,666 shares of the business’s stock in a transaction dated Friday, August 24th. The stock was sold at an average price of $27.23, for a total transaction of $453,815.18. The disclosure for this sale can be found here. Insiders have sold 469,194 shares of company stock worth $12,546,564 over the last 90 days.

An institutional investor recently bought a new position in Dropbox stock. Bank of New York Mellon Corp bought a new position in shares of Dropbox Inc (NASDAQ:DBX) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 35,777 shares of the company’s stock, valued at approximately $1,160,000. 14.68% of the stock is owned by hedge funds and other institutional investors.

Several analysts have recently issued reports on DBX shares. Jefferies Financial Group lifted their target price on shares of Dropbox to $37.00 and gave the company a “buy” rating in a research report on Friday, August 10th. Royal Bank of Canada upgraded shares of Dropbox from a “sector perform” rating to an “outperform” rating and set a $33.00 target price on the stock in a research report on Friday, August 10th. JMP Securities lifted their target price on shares of Dropbox from $35.00 to $37.00 and gave the company an “outperform” rating in a research report on Friday, August 10th. Monness Crespi & Hardt started coverage on shares of Dropbox in a research report on Monday, August 27th. They issued a “neutral” rating on the stock. Finally, Zacks Investment Research upgraded shares of Dropbox from a “hold” rating to a “buy” rating and set a $35.00 target price on the stock in a research report on Monday, August 13th. Five analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $34.57.

TRADEMARK VIOLATION NOTICE: This news story was posted by Enterprise Leader and is the sole property of of Enterprise Leader. If you are viewing this news story on another site, it was copied illegally and reposted in violation of United States & international copyright & trademark legislation. The original version of this news story can be viewed at https://theenterpriseleader.com/2018/11/07/dropbox-dbx-scheduled-to-post-earnings-on-thursday.html.

Dropbox Company Profile

Dropbox Inc provides a collaboration platform worldwide. Its platform allows individuals, teams, and organizations to create, access, and share content online. The company was formerly known as Evenflow, Inc and changed its name to Dropbox, Inc in October 2009. Dropbox Inc has strategic partnership with Zoom Video Communications, Inc Dropbox Inc was founded in 2007 and is headquartered in San Francisco, California.

See Also: What is Cost of Debt?

Receive News & Ratings for Dropbox Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Dropbox and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply