Analysts Set Dropbox, Inc. (NASDAQ:DBX) Target Price at $27.00

Shares of Dropbox, Inc. (NASDAQ:DBX) have earned an average rating of “Reduce” from the six brokerages that are covering the stock, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, three have issued a hold recommendation and one has given a buy recommendation to the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $27.00.

Several brokerages have recently commented on DBX. Royal Bank Of Canada reiterated an “outperform” rating on shares of Dropbox in a research report on Monday, June 1st. Weiss Ratings restated a “hold (c)” rating on shares of Dropbox in a research note on Monday, May 4th. Wall Street Zen raised shares of Dropbox from a “hold” rating to a “buy” rating in a report on Sunday, June 28th. Finally, Citigroup boosted their target price on shares of Dropbox from $27.00 to $28.00 and gave the company a “neutral” rating in a research note on Monday, May 11th.

Insider Buying and Selling at Dropbox

In related news, CAO Sarah Elizabeth Schubach sold 1,305 shares of the stock in a transaction dated Tuesday, June 30th. The shares were sold at an average price of $27.11, for a total transaction of $35,378.55. Following the sale, the chief accounting officer owned 127,204 shares in the company, valued at $3,448,500.44. This represents a 1.02% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Andrew Houston sold 30,332 shares of the stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $27.50, for a total transaction of $834,130.00. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 129,082 shares of company stock worth $3,489,910. 35.48% of the stock is owned by company insiders.

Hedge Funds Weigh In On Dropbox

Several hedge funds and other institutional investors have recently modified their holdings of the company. Palisade Asset Management LLC acquired a new position in Dropbox during the 3rd quarter valued at about $30,000. Kestra Advisory Services LLC acquired a new position in Dropbox during the 4th quarter worth $31,000. Larson Financial Group LLC grew its stake in shares of Dropbox by 228.0% in the fourth quarter. Larson Financial Group LLC now owns 1,138 shares of the company’s stock worth $32,000 after purchasing an additional 791 shares in the last quarter. Geneos Wealth Management Inc. increased its holdings in shares of Dropbox by 78.0% during the second quarter. Geneos Wealth Management Inc. now owns 1,273 shares of the company’s stock valued at $36,000 after purchasing an additional 558 shares during the period. Finally, Caitong International Asset Management Co. Ltd acquired a new position in shares of Dropbox during the fourth quarter valued at $38,000. Institutional investors and hedge funds own 94.84% of the company’s stock.

Dropbox Stock Performance

Shares of Dropbox stock opened at $29.19 on Monday. The firm has a market cap of $6.81 billion, a PE ratio of 15.95, a price-to-earnings-growth ratio of 3.11 and a beta of 0.66. The firm’s 50-day simple moving average is $27.85 and its 200-day simple moving average is $26.02. Dropbox has a 1 year low of $21.69 and a 1 year high of $32.40.

Dropbox (NASDAQ:DBX) last posted its quarterly earnings results on Thursday, May 7th. The company reported $0.76 EPS for the quarter, topping analysts’ consensus estimates of $0.71 by $0.05. The business had revenue of $629.50 million during the quarter, compared to the consensus estimate of $620.56 million. Dropbox had a negative return on equity of 30.01% and a net margin of 18.71%.The company’s revenue for the quarter was up .8% compared to the same quarter last year. During the same period last year, the firm earned $0.70 earnings per share. On average, equities analysts predict that Dropbox will post 2.09 earnings per share for the current year.

About Dropbox

Dropbox, Inc (NASDAQ: DBX) is a leading provider of cloud-based file storage, collaboration, and productivity tools. Founded in 2007 and headquartered in San Francisco, California, the company offers a suite of services designed to help individuals and organizations securely store, share, and manage digital content. Dropbox has grown from a simple file-syncing application into an integrated collaboration platform used by millions of customers around the globe.

At its core, Dropbox provides cloud storage plans tailored for consumers and businesses.