Dropbox (NASDAQ:DBX) Stock Price Expected to Rise, Royal Bank Of Canada Analyst Says

Dropbox (NASDAQ:DBX) had its price objective increased by research analysts at Royal Bank Of Canada from $35.00 to $38.00 in a research note issued on Friday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Royal Bank Of Canada’s price objective would indicate a potential upside of 23.10% from the stock’s current price.

Other research analysts have also issued reports about the stock. Wall Street Zen lowered shares of Dropbox from a “buy” rating to a “hold” rating in a research report on Sunday, October 26th. UBS Group cut Dropbox from a “neutral” rating to a “sell” rating and cut their price objective for the stock from $29.00 to $27.00 in a report on Thursday, September 18th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Dropbox in a research report on Wednesday, October 8th. One equities research analyst has rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Dropbox currently has a consensus rating of “Hold” and a consensus target price of $31.75.

Dropbox Stock Up 7.7%

Shares of DBX stock traded up $2.20 during trading on Friday, hitting $30.87. The company had a trading volume of 9,066,487 shares, compared to its average volume of 3,651,583. The stock’s 50-day moving average is $29.77 and its two-hundred day moving average is $28.73. The stock has a market capitalization of $8.33 billion, a price-to-earnings ratio of 18.82, a price-to-earnings-growth ratio of 3.84 and a beta of 0.65. Dropbox has a 52 week low of $24.42 and a 52 week high of $33.33.

Dropbox (NASDAQ:DBX) last announced its earnings results on Thursday, November 6th. The company reported $0.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.64 by $0.10. Dropbox had a net margin of 19.17% and a negative return on equity of 61.31%. The business had revenue of $634.40 million during the quarter, compared to analyst estimates of $623.59 million. During the same period in the previous year, the business posted $0.60 earnings per share. Dropbox’s revenue for the quarter was down .7% on a year-over-year basis. Dropbox has set its FY 2025 guidance at EPS. Q4 2025 guidance at EPS. On average, research analysts predict that Dropbox will post 1.64 EPS for the current fiscal year.

Insider Buying and Selling

In other Dropbox news, CFO Timothy Regan sold 1,500 shares of the business’s stock in a transaction that occurred on Thursday, October 30th. The stock was sold at an average price of $28.40, for a total value of $42,600.00. Following the completion of the sale, the chief financial officer owned 468,621 shares in the company, valued at approximately $13,308,836.40. The trade was a 0.32% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Sarah Elizabeth Schubach sold 1,066 shares of the firm’s stock in a transaction that occurred on Thursday, October 30th. The stock was sold at an average price of $28.40, for a total transaction of $30,274.40. Following the completion of the transaction, the chief accounting officer owned 103,591 shares in the company, valued at $2,941,984.40. This represents a 1.02% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 318,698 shares of company stock worth $9,251,159 in the last 90 days. 29.95% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Dropbox

Several institutional investors have recently added to or reduced their stakes in DBX. Envestnet Asset Management Inc. increased its position in shares of Dropbox by 177.2% in the first quarter. Envestnet Asset Management Inc. now owns 109,549 shares of the company’s stock valued at $2,926,000 after acquiring an additional 70,023 shares during the period. Rehmann Capital Advisory Group bought a new stake in shares of Dropbox in the first quarter worth about $675,000. Banque Pictet & Cie SA purchased a new position in Dropbox during the 1st quarter valued at about $346,000. Nisa Investment Advisors LLC increased its holdings in Dropbox by 3,492.7% during the 1st quarter. Nisa Investment Advisors LLC now owns 193,611 shares of the company’s stock valued at $5,171,000 after purchasing an additional 188,222 shares during the period. Finally, SBI Securities Co. Ltd. raised its position in Dropbox by 33.4% during the 1st quarter. SBI Securities Co. Ltd. now owns 1,794 shares of the company’s stock valued at $48,000 after purchasing an additional 449 shares during the last quarter. Hedge funds and other institutional investors own 94.84% of the company’s stock.

Dropbox Company Profile

Dropbox, Inc provides a content collaboration platform worldwide. The company's platform allows individuals, families, 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. It serves customers in professional services, technology, media, education, industrial, consumer and retail, and financial services industries.