S&P 500   3,841.47
DOW   30,996.98
QQQ   325.42
S&P 500   3,841.47
DOW   30,996.98
QQQ   325.42
S&P 500   3,841.47
DOW   30,996.98
QQQ   325.42
S&P 500   3,841.47
DOW   30,996.98
QQQ   325.42
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$498.06 Million in Sales Expected for Dropbox, Inc. (NASDAQ:DBX) This Quarter

Last updated on Thursday, November 26, 2020 | 2020 MarketBeat

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.

About Dropbox

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.

See Also: Reverse Stock Split

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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.

The second reason is that it allows investors to buy partial (or fractional) shares. Although Robinhood is often associated with penny stocks, the app lets investors buy shares of “pricey” stocks like Tesla (NASDAQ:TSLA) without having to pay for a full share right away.

And data shows that Robinhood investors have a healthier risk appetite than other investors. And that appetite has increased since the start of the pandemic. This lines up to the time when investors had more time on their hands.

With that said, many Robinhood investors have been, quite frankly, using the app to engage in a legal form of gambling. I say this because trying to dive quickly in and out of the market in an attempt to capture a profit may work. But historically, it’s a path to ruin.

However there are two sides to every story. And the same is true of Robinhood investors. There are many examples of where these investors have gotten it right. In this presentation, we’ll show you eight examples of stocks that the market and Robinhood investors have gotten exactly right.

View the "8 Stocks That Robinhood Investors Got Right".

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