Royal Bank Of Canada Issues Positive Forecast for Dropbox (NASDAQ:DBX) Stock Price

Dropbox (NASDAQ:DBX) had its price objective increased by Royal Bank Of Canada from $35.00 to $38.00 in a report published on Friday,Benzinga reports. The firm currently has an outperform rating on the stock.

Other equities analysts have also issued research reports about the stock. Wall Street Zen lowered shares of Dropbox from a “buy” rating to a “hold” rating in a research report on Sunday, October 26th. UBS Group lowered Dropbox from a “neutral” rating to a “sell” rating and cut their price objective for the company from $29.00 to $27.00 in a research report on Thursday, September 18th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Dropbox in a report on Wednesday, October 8th. One analyst has rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Dropbox presently has a consensus rating of “Hold” and an average price target of $31.75.

Dropbox Price Performance

Shares of NASDAQ DBX traded up $2.20 during mid-day trading on Friday, reaching $30.87. The company’s stock had a trading volume of 9,066,755 shares, compared to its average volume of 3,030,412. Dropbox has a 52 week low of $24.42 and a 52 week high of $33.33. The stock has a fifty day moving average of $29.80 and a two-hundred day moving average of $28.76. The firm has a market capitalization of $8.33 billion, a PE ratio of 17.44, a P/E/G ratio of 3.78 and a beta of 0.65.

Dropbox (NASDAQ:DBX) last posted its quarterly earnings results on Thursday, November 6th. The company reported $0.74 EPS for the quarter, topping analysts’ consensus estimates of $0.64 by $0.10. Dropbox had a negative return on equity of 55.28% and a net margin of 19.87%.The company had revenue of $634.40 million for the quarter, compared to analysts’ expectations of $623.59 million. During the same period in the previous year, the firm earned $0.60 EPS. The firm’s revenue was down .7% compared to the same quarter last year. Dropbox has set its FY 2025 guidance at EPS. Q4 2025 guidance at EPS. Analysts anticipate that Dropbox will post 1.64 EPS for the current fiscal year.

Insider Buying and Selling

In other Dropbox news, CEO Andrew Houston sold 101,167 shares of the business’s stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $29.64, for a total transaction of $2,998,589.88. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Ashraf Alkarmi sold 10,098 shares of the company’s stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $27.30, for a total value of $275,675.40. Following the sale, the insider owned 469,333 shares in the company, valued at approximately $12,812,790.90. This trade represents a 2.11% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 318,698 shares of company stock valued at $9,251,159 in the last quarter. 29.95% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of DBX. Syon Capital LLC raised its stake in shares of Dropbox by 27.9% in the third quarter. Syon Capital LLC now owns 15,450 shares of the company’s stock valued at $467,000 after acquiring an additional 3,366 shares during the period. Skandinaviska Enskilda Banken AB publ grew its holdings in Dropbox by 76.0% during the 3rd quarter. Skandinaviska Enskilda Banken AB publ now owns 195,769 shares of the company’s stock valued at $5,914,000 after purchasing an additional 84,558 shares during the last quarter. State of New Jersey Common Pension Fund D raised its position in Dropbox by 9.8% in the 3rd quarter. State of New Jersey Common Pension Fund D now owns 75,108 shares of the company’s stock worth $2,269,000 after purchasing an additional 6,733 shares during the period. Illinois Municipal Retirement Fund lifted its stake in Dropbox by 7.6% in the third quarter. Illinois Municipal Retirement Fund now owns 273,835 shares of the company’s stock worth $8,273,000 after purchasing an additional 19,240 shares during the last quarter. Finally, LSV Asset Management boosted its position in shares of Dropbox by 38.1% during the third quarter. LSV Asset Management now owns 11,613,642 shares of the company’s stock valued at $350,848,000 after buying an additional 3,205,140 shares during the period. Institutional investors own 94.84% of the company’s stock.

Dropbox Company Profile

Dropbox, Inc provides a content collaboration platform worldwide. The company's platform allows individuals, families, 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. It serves customers in professional services, technology, media, education, industrial, consumer and retail, and financial services industries.