Dropbox (NASDAQ:DBX) Announces Earnings Results

Dropbox (NASDAQ:DBX) announced its quarterly earnings results on Thursday. The company reported $0.13 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.17, Briefing.com reports. The firm had revenue of $428.20 million for the quarter, compared to analysts’ expectations of $423.48 million. Dropbox had a negative net margin of 2.91% and a negative return on equity of 6.57%. Dropbox’s revenue was up 18.8% compared to the same quarter last year. During the same period in the previous year, the company posted $0.11 earnings per share.

DBX traded down $1.16 during trading on Friday, hitting $19.80. The company had a trading volume of 9,567,800 shares, compared to its average volume of 3,590,478. The company has a market cap of $8.63 billion, a PE ratio of -15.11 and a beta of 1.56. The business has a 50-day moving average of $19.73 and a 200-day moving average of $21.72. Dropbox has a 1-year low of $17.20 and a 1-year high of $27.15. The company has a debt-to-equity ratio of 0.99, a current ratio of 1.18 and a quick ratio of 1.18.

A number of brokerages have weighed in on DBX. Bank of America dropped coverage on shares of Dropbox in a research report on Friday, August 9th. Instinet raised shares of Dropbox from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $18.92 to $25.00 in a research report on Tuesday, October 22nd. Nomura boosted their target price on shares of Dropbox from $25.00 to $27.00 and gave the stock a “buy” rating in a research report on Friday. William Blair dropped coverage on shares of Dropbox in a research report on Friday, August 9th. Finally, TheStreet cut shares of Dropbox from a “c-” rating to a “d+” rating in a research report on Friday, August 9th. One equities research analyst has rated the stock with a sell rating and eleven have assigned a buy rating to the company. Dropbox presently has an average rating of “Buy” and an average price target of $28.10.

In related news, CAO Timothy Regan sold 3,000 shares of the company’s stock in a transaction dated Monday, October 21st. The shares were sold at an average price of $19.46, for a total value of $58,380.00. Also, Director Condoleezza Rice sold 23,943 shares of the company’s stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $18.38, for a total transaction of $440,072.34. The disclosure for this sale can be found here. Insiders sold 84,276 shares of company stock valued at $1,666,898 in the last ninety days. Corporate insiders own 31.20% of the company’s stock.

Dropbox Company Profile

Dropbox, Inc provides a collaboration platform worldwide. Its 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. The company has approximately 500 million registered users across 180 countries.

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Earnings History for Dropbox (NASDAQ:DBX)

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