Wall Street brokerages forecast that Dropbox, Inc. (NASDAQ:DBX) will report sales of $498.06 million for the current quarter, according to Zacks Investment Research. Three analysts have provided estimates for Dropbox's earnings. The lowest sales estimate is $498.00 million and the highest is $498.18 million. Dropbox reported sales of $446.00 million during the same quarter last year, which indicates a positive year over year growth rate of 11.7%. The business is scheduled to report its next earnings report on Thursday, February 18th.
On average, analysts expect that Dropbox will report full year sales of $1.91 billion for the current year. For the next year, analysts forecast that the company will report sales of $2.12 billion, with estimates ranging from $2.09 billion to $2.14 billion. Zacks Investment Research's sales averages are an average based on a survey of research firms that follow Dropbox.
Dropbox (NASDAQ:DBX) last released its quarterly earnings data on Thursday, November 5th. The company reported $0.26 earnings per share (EPS) for the quarter, beating the Zacks' consensus estimate of $0.18 by $0.08. Dropbox had a net margin of 4.47% and a return on equity of 15.02%. The firm had revenue of $487.40 million for the quarter, compared to the consensus estimate of $483.64 million. During the same period last year, the firm earned $0.13 earnings per share. The company's quarterly revenue was up 13.8% on a year-over-year basis.
A number of equities analysts have recently issued reports on the stock. Bank of America downgraded shares of Dropbox from a "buy" rating to a "neutral" rating and dropped their price objective for the company from $32.00 to $25.00 in a research note on Friday, July 31st. Zacks Investment Research raised shares of Dropbox from a "hold" rating to a "buy" rating and set a $21.00 target price for the company in a research report on Wednesday, November 11th. Finally, BidaskClub cut shares of Dropbox from a "sell" rating to a "strong sell" rating in a research report on Thursday, August 27th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and nine have given a buy rating to the company. Dropbox presently has an average rating of "Buy" and an average price target of $27.56.
NASDAQ DBX opened at $19.11 on Thursday. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.30 and a current ratio of 1.30. The firm's 50 day moving average price is $19.28 and its 200-day moving average price is $20.74. Dropbox has a 52-week low of $14.55 and a 52-week high of $24.14. The company has a market cap of $7.90 billion, a PE ratio of 100.58, a P/E/G ratio of 2.02 and a beta of 0.84.
In related news, insider Bart Volkmer sold 10,000 shares of the firm's stock in a transaction on Thursday, November 12th. The shares were sold at an average price of $18.76, for a total transaction of $187,600.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Timothy Regan sold 1,941 shares of the firm's stock in a transaction on Monday, October 26th. The stock was sold at an average price of $19.60, for a total transaction of $38,043.60. The disclosure for this sale can be found here. In the last ninety days, insiders sold 18,141 shares of company stock valued at $351,806. Corporate insiders own 30.81% of the company's stock.
Several institutional investors have recently modified their holdings of the stock. Public Employees Retirement System of Ohio raised its holdings in shares of Dropbox by 3.4% during the third quarter. Public Employees Retirement System of Ohio now owns 94,711 shares of the company's stock worth $1,824,000 after purchasing an additional 3,119 shares during the last quarter. Neo Ivy Capital Management grew its position in Dropbox by 325.7% during the third quarter. Neo Ivy Capital Management now owns 34,272 shares of the company's stock valued at $660,000 after buying an additional 26,222 shares during the period. California State Teachers Retirement System grew its position in Dropbox by 7.7% during the third quarter. California State Teachers Retirement System now owns 472,300 shares of the company's stock valued at $9,096,000 after buying an additional 33,953 shares during the period. Levin Capital Strategies L.P. acquired a new stake in Dropbox during the third quarter valued at $240,000. Finally, Garde Capital Inc. grew its position in Dropbox by 6.8% during the third quarter. Garde Capital Inc. now owns 10,444 shares of the company's stock valued at $201,000 after buying an additional 666 shares during the period. 50.48% of the stock is owned by hedge funds and other institutional investors.
Dropbox, Inc provides a collaboration platform worldwide. The company's 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. As of December 31, 2019, it had approximately 600 million registered users across 180 countries.
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8 Stocks That Robinhood Investors Got Right
The online investing app Robinhood has been a clear pandemic winner. As more Americans were forced to work from home, many made the decision to begin testing their investing skills by trading stocks. Robinhood appeals to millennial and/or novice investors for several reasons. First, the app makes it fun. You might say it “gamefies” stock trading. With commission-free trades, investors have an incentive to trade frequently. And many users of the app do just that.
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