Growth Story Still Intact For Dropbox Inc (DBX)

Dropbox Inc (DBX) concluded trading on Wednesday at a closing price of $23.48, with 3.12 million shares of worth about $73.2 million changed hands on the day. Half year performance of the stock remained negative as price took a plunge of -13.99% during that period and on April 3, 2024 the price saw a loss of about -1.76%. Currently the company’s common shares owned by public are about 256.00M shares, out of which, 252.21M shares are available for trading.

However, the stock later moved at a day high price of 23.91, or with a loss of -1.76%. Stock saw a price change of -3.97% in past 5 days and over the past one month there was a price change of -2.57%. Year-to-date (YTD), DBX shares are showing a performance of -20.35% which increased to 8.60% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $19.55 but also hit the highest price of $33.43 during that period. The average intraday trading volume for Dropbox Inc shares is 4.18 million. The stock is currently trading -2.70% below its 20-day simple moving average (SMA20), while that difference is down -13.89% for SMA50 and it goes to -14.81% lower than SMA200.

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Dropbox Inc (NASDAQ: DBX) currently have 256.00M outstanding shares and institutions hold larger chunk of about 72.43% of that.

The stock has a current market capitalization of $8.08B and its 3Y-monthly beta is at 0.70. PE ratio of stock for trailing 12 months is 17.87, while it has posted earnings per share of $1.31 in the same period. Its PEG reads 2.29 and has Quick Ratio of 1.24. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for DBX, volatility over the week remained 1.73% while standing at 1.91% over the month.

Analysts are in expectations that Dropbox Inc (DBX) stock would likely to be making an EPS of $0.5 in the current quarter, while forecast for next quarter EPS is $0.5 and it is $2.17 for next year. For the current quarter EPS, analysts have given the company a lowest target $0.47 which is $0.52 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of $0.42 in the same quarter a year ago. Stock’s fiscal year EPS is expected to rise by 1.76% while it is estimated to increase by 7.48% in next year.

Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by JP Morgan on February 16, 2024 offering a Neutral rating for the stock and assigned a target price range of between $33 and $30 to it. On February 16, 2024, Goldman Downgrade their recommendations, while on February 16, 2024, BofA Securities Downgrade their ratings for the stock with a price target of $28. Stock get a Buy rating from UBS on December 15, 2023.

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