Dropbox Inc (DBX) Expected to Post Earnings of $0.06 Per Share

Equities research analysts predict that Dropbox Inc (NASDAQ:DBX) will post $0.06 earnings per share for the current fiscal quarter, Zacks Investment Research reports. Seven analysts have issued estimates for Dropbox’s earnings, with the highest EPS estimate coming in at $0.07 and the lowest estimate coming in at $0.05. The company is expected to issue its next earnings report after the market closes on Thursday, November 8th.

On average, analysts expect that Dropbox will report full-year earnings of $0.31 per share for the current financial year, with EPS estimates ranging from $0.29 to $0.33. For the next financial year, analysts anticipate that the firm will post earnings of $0.40 per share, with EPS estimates ranging from $0.35 to $0.45. Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side research analysts that that provide coverage for Dropbox.

Dropbox (NASDAQ:DBX) last announced its quarterly earnings results on Thursday, August 9th. The company reported $0.11 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.06 by $0.05. The company had revenue of $339.20 million for the quarter, compared to analyst estimates of $330.90 million. During the same quarter in the prior year, the business earned $0.06 earnings per share. Dropbox’s revenue was up 27.2% compared to the same quarter last year.

Several equities research analysts recently commented on the stock. Jefferies Financial Group upgraded shares of Dropbox from a “hold” rating to a “buy” rating and set a $31.00 price target on the stock in a research note on Wednesday, August 1st. They noted that the move was a valuation call. Zacks Investment Research lowered shares of Dropbox from a “buy” rating to a “hold” rating in a research note on Monday, July 16th. Nomura upgraded shares of Dropbox from a “reduce” rating to a “neutral” rating and lifted their price objective for the company from $21.00 to $25.00 in a research note on Tuesday, October 2nd. Canaccord Genuity lifted their price objective on shares of Dropbox from $36.00 to $38.00 and gave the company a “buy” rating in a research note on Friday, August 10th. Finally, Monness Crespi & Hardt assumed coverage on shares of Dropbox in a research note on Monday, August 27th. They issued a “neutral” rating on the stock. Five investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $34.57.

In other news, CFO Ajay Vashee sold 13,731 shares of the business’s stock in a transaction dated Friday, August 24th. The shares were sold at an average price of $27.23, for a total transaction of $373,895.13. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 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. Over the last 90 days, insiders sold 469,194 shares of company stock worth $12,546,564.

Several institutional investors have recently modified their holdings of the company. Tower Research Capital LLC TRC increased its stake in shares of Dropbox by 56.3% during the second quarter. Tower Research Capital LLC TRC now owns 8,018 shares of the company’s stock worth $260,000 after acquiring an additional 2,888 shares during the period. Trustcore Financial Services LLC increased its stake in shares of Dropbox by 702.0% during the second quarter. Trustcore Financial Services LLC now owns 4,010 shares of the company’s stock worth $130,000 after acquiring an additional 3,510 shares during the period. Castle Rock Wealth Management LLC increased its stake in shares of Dropbox by 55.1% during the second quarter. Castle Rock Wealth Management LLC now owns 10,643 shares of the company’s stock worth $345,000 after acquiring an additional 3,782 shares during the period. First Hawaiian Bank acquired a new position in shares of Dropbox during the third quarter worth about $118,000. Finally, Legal & General Group Plc acquired a new position in shares of Dropbox during the first quarter worth about $158,000. Institutional investors and hedge funds own 14.23% of the company’s stock.

NASDAQ:DBX traded up $0.79 during midday trading on Tuesday, hitting $22.80. 2,296,390 shares of the company were exchanged, compared to its average volume of 4,686,949. Dropbox has a fifty-two week low of $21.36 and a fifty-two 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.

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.

Further Reading: Trading Strategy Examples and Plans

Get a free copy of the Zacks research report on Dropbox (DBX)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Dropbox (NASDAQ:DBX)

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