Shares of Dropbox Inc (NASDAQ:DBX) have been assigned a consensus rating of “Buy” from the fifteen research firms that are covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, four have issued a hold rating and ten have given a buy rating to the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $34.23.

A number of equities analysts recently commented on the stock. Jefferies Financial Group raised their price target on shares of Dropbox to $37.00 and gave the stock a “buy” rating in a research report on Friday, August 10th. Zacks Investment Research lowered shares of Dropbox from a “buy” rating to a “hold” rating in a research report on Monday, July 16th. JMP Securities raised their price target on shares of Dropbox from $35.00 to $37.00 and gave the stock an “outperform” rating in a research report on Friday, August 10th. Canaccord Genuity raised their target price on shares of Dropbox from $36.00 to $38.00 and gave the company a “buy” rating in a report on Friday, August 10th. Finally, Royal Bank of Canada raised shares of Dropbox from a “sector perform” rating to an “outperform” rating and set a $33.00 target price on the stock in a report on Friday, August 10th.

Shares of DBX opened at $26.08 on Friday. Dropbox has a fifty-two week low of $24.78 and a fifty-two week high of $43.50. The company has a current ratio of 1.39, a quick ratio of 1.39 and a debt-to-equity ratio of 0.12.

Dropbox (NASDAQ:DBX) last released its quarterly earnings results on Thursday, August 9th. The company reported $0.11 EPS for the quarter, topping analysts’ consensus estimates of $0.06 by $0.05. The business had revenue of $339.20 million for the quarter, compared to the consensus estimate of $330.90 million. During the same period in the prior year, the business posted $0.06 earnings per share. Dropbox’s revenue was up 27.2% compared to the same quarter last year. equities research analysts anticipate that Dropbox will post 0.31 earnings per share for the current fiscal year.

In other news, CEO Andrew Houston sold 61,728 shares of the business’s stock in a transaction that occurred on Friday, August 24th. The shares were sold at an average price of $27.16, for a total value of $1,676,532.48. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Condoleezza Rice sold 25,000 shares of the business’s stock in a transaction that occurred on Friday, August 24th. The stock was sold at an average price of $27.23, for a total transaction of $680,750.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 304,399 shares of company stock worth $8,282,591.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Trustcore Financial Services LLC increased its stake in shares of Dropbox by 702.0% in the 2nd quarter. Trustcore Financial Services LLC now owns 4,010 shares of the company’s stock valued at $130,000 after acquiring an additional 3,510 shares in the last quarter. Legal & General Group Plc bought a new stake in shares of Dropbox in the 1st quarter valued at $158,000. Galileo PTC Ltd bought a new stake in shares of Dropbox in the 1st quarter valued at $207,000. Advisors Asset Management Inc. bought a new stake in shares of Dropbox in the 2nd quarter valued at $221,000. Finally, Alkeon Capital Management LLC bought a new stake in shares of Dropbox in the 1st quarter valued at $232,000. Hedge funds and other institutional investors own 13.82% of the company’s stock.

Dropbox Company Profile

Dropbox Inc provides a collaboration platform worldwide. Its platform allows individuals, teams, and organizations to create, access, and share content online. The company was formerly known as Evenflow, Inc and changed its name to Dropbox, Inc in October 2009. Dropbox Inc was founded in 2007 and is headquartered in San Francisco, California.

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Analyst Recommendations for Dropbox (NASDAQ:DBX)

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