Equities analysts expect that Dropbox Inc (NASDAQ:DBX) will announce earnings per share of $0.14 for the current quarter, Zacks reports. Four analysts have issued estimates for Dropbox’s earnings. The highest EPS estimate is $0.16 and the lowest is $0.13. Dropbox reported earnings of $0.10 per share in the same quarter last year, which would indicate a positive year over year growth rate of 40%. The firm is expected to announce its next earnings report on Thursday, February 20th.
On average, analysts expect that Dropbox will report full year earnings of $0.48 per share for the current year, with EPS estimates ranging from $0.46 to $0.49. For the next year, analysts forecast that the business will report earnings of $0.57 per share, with EPS estimates ranging from $0.52 to $0.60. Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side research analysts that that provide coverage for Dropbox.
Dropbox (NASDAQ:DBX) last posted its earnings results on Thursday, November 7th. The company reported ($0.02) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.04) by $0.02. The company had revenue of $428.20 million for the quarter, compared to the consensus estimate of $423.48 million. Dropbox had a negative return on equity of 6.82% and a negative net margin of 3.49%. Dropbox’s quarterly revenue was up 18.8% compared to the same quarter last year. During the same period in the previous year, the business earned $0.11 earnings per share.
DBX has been the topic of a number of research analyst reports. Zacks Investment Research downgraded Dropbox from a “buy” rating to a “hold” rating in a research report on Thursday, November 14th. Nomura boosted their target price on Dropbox from $25.00 to $27.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. Canaccord Genuity dropped coverage on Dropbox in a research report on Friday, September 27th. Instinet upgraded Dropbox from a “neutral” rating to a “buy” rating and upped their price objective for the company from $18.92 to $25.00 in a research report on Tuesday, October 22nd. Finally, Jefferies Financial Group downgraded Dropbox from a “buy” rating to a “hold” rating and reduced their price objective for the company from $28.00 to $19.00 in a research report on Thursday. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and nine have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $27.20.
DBX traded up $0.04 during trading on Wednesday, reaching $17.86. 2,414,557 shares of the stock were exchanged, compared to its average volume of 3,606,070. The business’s 50 day moving average price is $18.00 and its two-hundred day moving average price is $20.14. The company has a debt-to-equity ratio of 0.99, a current ratio of 1.20 and a quick ratio of 1.20. The company has a market capitalization of $7.40 billion, a price-to-earnings ratio of -13.63 and a beta of 1.48. Dropbox has a 1 year low of $16.08 and a 1 year high of $26.49.
In other Dropbox news, CFO Ajay Vashee sold 27,500 shares of Dropbox stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $21.03, for a total value of $578,325.00. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CAO Timothy Regan sold 3,000 shares of the company’s stock in a transaction on Monday, October 21st. The stock was sold at an average price of $19.46, for a total value of $58,380.00. Insiders have sold 50,166 shares of company stock worth $1,018,885 over the last quarter. 31.20% of the stock is currently owned by company insiders.
Large investors have recently modified their holdings of the company. Acadian Asset Management LLC acquired a new stake in Dropbox in the second quarter valued at approximately $212,000. Allianz Asset Management GmbH bought a new position in shares of Dropbox during the 2nd quarter worth approximately $249,000. Charles Schwab Investment Management Inc. raised its holdings in shares of Dropbox by 119.7% in the second quarter. Charles Schwab Investment Management Inc. now owns 814,020 shares of the company’s stock valued at $20,392,000 after purchasing an additional 443,559 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Dropbox by 615.5% in the second quarter. Bank of New York Mellon Corp now owns 674,418 shares of the company’s stock valued at $16,894,000 after purchasing an additional 580,162 shares during the last quarter. Finally, Tiverton Asset Management LLC lifted its position in shares of Dropbox by 197.7% in the second quarter. Tiverton Asset Management LLC now owns 10,276 shares of the company’s stock worth $257,000 after purchasing an additional 6,824 shares in the last quarter. Institutional investors and hedge funds own 42.53% of the company’s stock.
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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