Jefferies Financial Group reaffirmed their buy rating on shares of Dropbox (NASDAQ:DBX) in a report issued on Tuesday morning, BenzingaRatingsTable reports. Jefferies Financial Group currently has a $32.00 price objective on the stock. Jefferies Financial Group also issued estimates for Dropbox’s Q3 2019 earnings at ($0.04) EPS, Q4 2019 earnings at ($0.01) EPS, FY2019 earnings at ($0.10) EPS, Q1 2020 earnings at $0.00 EPS, Q2 2020 earnings at ($0.02) EPS, Q3 2020 earnings at $0.01 EPS, Q4 2020 earnings at $0.04 EPS and FY2020 earnings at $0.03 EPS.
A number of other equities analysts have also recently issued reports on the stock. Canaccord Genuity dropped coverage on shares of Dropbox in a report on Friday, September 27th. DA Davidson dropped coverage on shares of Dropbox in a report on Friday, August 9th. TheStreet cut shares of Dropbox from a c- rating to a d+ rating in a report on Friday, August 9th. ValuEngine raised shares of Dropbox from a hold rating to a buy rating in a report on Wednesday, October 2nd. Finally, Zacks Investment Research cut shares of Dropbox from a buy rating to a hold rating in a report on Wednesday, August 14th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and nine have given a buy rating to the company. The stock presently has a consensus rating of Buy and an average target price of $28.56.
Shares of NASDAQ DBX opened at $19.27 on Tuesday. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.99. The firm’s 50-day moving average price is $19.27 and its two-hundred day moving average price is $22.02. Dropbox has a 52-week low of $17.20 and a 52-week high of $27.15. The stock has a market capitalization of $7.96 billion, a P/E ratio of -14.71 and a beta of 1.57.
Dropbox (NASDAQ:DBX) last issued its earnings results on Thursday, August 8th. The company reported $0.10 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.05) by $0.15. Dropbox had a negative net margin of 2.91% and a negative return on equity of 6.57%. The firm had revenue of $401.50 million for the quarter, compared to analysts’ expectations of $401.09 million. During the same quarter last year, the company posted $0.11 earnings per share. Dropbox’s revenue was up 18.4% on a year-over-year basis. As a group, equities research analysts expect that Dropbox will post -0.12 earnings per share for the current year.
In other news, Director Condoleezza Rice sold 23,943 shares of Dropbox stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $18.38, for a total transaction of $440,072.34. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Timothy Regan sold 4,125 shares of Dropbox stock in a transaction that occurred on Wednesday, July 17th. The shares were sold at an average price of $25.60, for a total value of $105,600.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 93,742 shares of company stock worth $1,956,472. Corporate insiders own 31.20% of the company’s stock.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Meridian Wealth Management LLC bought a new stake in shares of Dropbox during the second quarter valued at approximately $34,000. Glen Harbor Capital Management LLC raised its holdings in shares of Dropbox by 203.0% during the second quarter. Glen Harbor Capital Management LLC now owns 1,600 shares of the company’s stock valued at $40,000 after buying an additional 1,072 shares during the last quarter. CSat Investment Advisory L.P. bought a new stake in shares of Dropbox during the second quarter valued at approximately $45,000. Livforsakringsbolaget Skandia Omsesidigt bought a new stake in shares of Dropbox during the second quarter valued at approximately $55,000. Finally, Tyers Asset Management LLC raised its holdings in Dropbox by 203.0% during the second quarter. Tyers Asset Management LLC now owns 2,200 shares of the company’s stock worth $55,000 after purchasing an additional 1,474 shares in the last quarter. 40.48% of the stock is currently owned by institutional investors.
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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