Equities research analysts expect Dropbox Inc (NASDAQ:DBX) to post earnings of $0.11 per share for the current quarter, according to Zacks Investment Research. Four analysts have made estimates for Dropbox’s earnings, with estimates ranging from $0.10 to $0.11. Dropbox also reported earnings per share of $0.11 in the same quarter last year. The firm is scheduled to issue its next earnings results on Thursday, November 14th.
According to Zacks, analysts expect that Dropbox will report full year earnings of $0.44 per share for the current financial year, with EPS estimates ranging from $0.42 to $0.46. For the next year, analysts expect that the business will report earnings of $0.56 per share, with EPS estimates ranging from $0.50 to $0.60. Zacks Investment Research’s EPS calculations are a mean average based on a survey of analysts that follow Dropbox.
Dropbox (NASDAQ:DBX) last announced its earnings results on Thursday, August 8th. The company reported $0.10 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.05) by $0.15. Dropbox had a negative return on equity of 6.57% and a negative net margin of 2.91%. The firm had revenue of $401.50 million during the quarter, compared to analyst estimates of $401.09 million. During the same quarter in the prior year, the company earned $0.11 EPS. The business’s revenue was up 18.4% compared to the same quarter last year.
A number of research analysts recently weighed in on the company. Sanford C. Bernstein assumed coverage on Dropbox in a research report on Wednesday, August 7th. They set an “underperform” rating and a $19.00 price objective for the company. Jefferies Financial Group reaffirmed a “buy” rating and set a $32.00 price objective on shares of Dropbox in a research report on Tuesday. Bank of America dropped coverage on Dropbox in a research report on Friday, August 9th. Royal Bank of Canada dropped coverage on Dropbox in a research report on Thursday, September 26th. Finally, TheStreet lowered Dropbox from a “c-” rating to a “d+” rating in a research report on Friday, August 9th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and nine have given a buy rating to the company’s stock. Dropbox has an average rating of “Buy” and a consensus target price of $28.56.
Shares of NASDAQ:DBX opened at $19.27 on Wednesday. Dropbox has a 52-week low of $17.20 and a 52-week high of $27.15. The firm has a market capitalization of $7.96 billion, a P/E ratio of -14.71 and a beta of 1.57. The stock has a 50 day moving average price of $19.27 and a 200-day moving average price of $22.02. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.18 and a current ratio of 1.18.
In other Dropbox news, insider Timothy Regan sold 4,125 shares of Dropbox stock in a transaction on Wednesday, July 17th. The stock was sold at an average price of $25.60, for a total value of $105,600.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Quentin Clark sold 16,674 shares of Dropbox stock in a transaction on Wednesday, July 24th. The stock was sold at an average price of $24.56, for a total value of $409,513.44. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 93,742 shares of company stock valued at $1,956,472. 31.20% of the stock is owned by corporate insiders.
Several institutional investors have recently bought and sold shares of the business. River & Mercantile Asset Management LLP increased its holdings in shares of Dropbox by 0.8% in the 2nd quarter. River & Mercantile Asset Management LLP now owns 491,255 shares of the company’s stock worth $12,308,000 after purchasing an additional 4,000 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp purchased a new position in shares of Dropbox in the 2nd quarter worth $924,000. Harbourvest Partners LLC purchased a new position in shares of Dropbox in the 2nd quarter worth $383,000. Rehmann Capital Advisory Group purchased a new position in shares of Dropbox in the 2nd quarter worth $377,000. Finally, BlackRock Inc. boosted its stake in shares of Dropbox by 35.8% in the 2nd quarter. BlackRock Inc. now owns 18,369,211 shares of the company’s stock worth $460,147,000 after buying an additional 4,847,447 shares during the last quarter. 40.48% of the stock is owned by institutional investors and hedge funds.
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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