In analysts report sent to investors on Friday morning, Dropbox Inc (DBX) shares have had their "Buy" Rating maintained by equity research analysts at Canaccord Genuity. They issued an outperform rating and a $34.00 price target for the company. Macquarie started coverage on Dropbox in a report on Tuesday, April 17th. They issued an overweight rating and a $32.00 target price on the stock. Stock Slips as Company Reports First Earnings Since IPO" on May 11, 2018, also Benzinga.com with their article: "Dropbox Quiet Period Expires And Analysts Speak Up" published on April 17, 2018, Seekingalpha.com published: "Why Did Tech Rally? They set a $22.00 target price on the stock. Goldman Sachs initiated the stock with "Hold" rating in Tuesday, April 17 report. They set a neutral rating and a $27.00 price target on the stock. Deutsche Bank initiated the stock with "Buy" rating in Tuesday, April 17 report. They issued a hold rating and a $31.00 price objective on the stock. The brokerage now has a "buy" rating on the stock. The stock is now about 1 percent above the debut price of $29 per share.
DBX traded up $0.60 during trading on Tuesday, reaching $32.00.
Earnings: Excluding certain items, 8 cents per share vs. 5 cents per share as expected by analysts, according to Thomson Reuters.
Analysts have high expectations of Dropbox.
Dropbox reported better-than-expected first quarter results in its first earnings report as a public company after the bell on Thursday. It now has negative earnings. The stock was sold at an average price of $20.07, for a total value of $46,829,993.31. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Several institutional investors and hedge funds have recently modified their holdings of the stock.
Overall, Dropbox lost $465.5 million, compared with $33.1 million a year earlier, driven by a large increase in stock-based compensation following its March initial public offering. (NASDAQ:DBX) news were published by: Nasdaq.com which released: "Dropbox Inc".
With so much good news in its first earnings report, you would expect Dropbox's share price to see some bullish activity. Massachusetts Financial Services Co. Eaton Vance Management acquired a new position in shares of Dropbox in the first quarter worth $291,000.
It may be highly valued given its lack of earnings, but Dropbox's business model provides it with a lot of avenues to grow and its solid reputation in the industry gives it a big advantage over its peers. The firm was formerly known as Evenflow, Inc. and changed its name to Dropbox, Inc.in October 2009. Dropbox Inc was founded in 2007 and is headquartered in San Francisco, California.
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