Streetbeat News

DBX

Dropbox, Inc.

https://www.dropbox.com

Industry

Software - Infrastructure

Dropbox, Inc. provides a content collaboration platform worldwide. Its 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. As of December 31, 2021, the company had approximately 700 million registered users. It serves customers in professional services, technology, media, education, industrial, consumer and retail, and financial services industries. The company was formerly known as Evenflow, Inc. and changed its name to Dropbox, Inc. in October 2009. Dropbox, Inc. was incorporated in 2007 and is headquartered in San Francisco, California.

Open

24.93

Mkt cap

7.7B

Volume

3.5M

High

25.64

P/E Ratio

18.30

52-wk high

33.33

Low

24.75

Div yield

N/A

52-wk low

20.68

Dropbox's (NYSE:DBX) short interest has decreased by 7.46% since the last report, with 18.24 million shares sold short, representing 8.43% of its float. This decline in short interest could indicate a more bullish sentiment among investors towards DBX, despite it having a higher short interest than its peer group average of 6.03%. The article suggests that while a decrease in short interest does not guarantee a stock price increase, it is an important indicator of market sentiment.

Portfolio Pulse from Benzinga Insights

February 09, 2024 | 4:30 pm

In Tuesday's after-market session, several information technology stocks experienced movement. Ascent Solar Technologies, Movella Holdings, FOXO Technologies, Xunlei, Addvantage Technologies, and Expensify saw gains, with Ascent Solar leading at a 5.7% increase. On the downside, Meta Materials, Infrared Cameras Holdings, WiSA Technologies, Cyngn, Texas Instruments, and Dropbox experienced declines, with Meta Materials dropping the most at 13.2%. Texas Instruments' Q4 earnings were released the same day.

Portfolio Pulse from Benzinga Insights

January 23, 2024 | 9:30 pm

Keybanc analyst Thomas Blakey has maintained an Overweight rating on Dropbox (NASDAQ:DBX) and increased the price target from $32 to $37, indicating a positive outlook on the company's stock.

Portfolio Pulse from Benzinga Newsdesk

January 19, 2024 | 2:57 pm

Insiders at Williams-Sonoma, Commercial Metals, Dropbox, and Walgreens Boots Alliance have recently sold shares of their companies. Williams-Sonoma CEO sold 20,000 shares after an analyst upgrade and price target increase. Commercial Metals' Executive Chairman sold 142,806 shares following an announcement of a share repurchase program increase. Dropbox's Chief Legal Officer and CFO sold shares as the company launched a new AI-powered search feature. Walgreens Boots Alliance's Director sold 15,209 shares after reporting a sales increase that beat consensus.

Portfolio Pulse from Avi Kapoor

January 19, 2024 | 12:28 pm

Dropbox Inc. (DBX) introduced an AI-powered search feature for subscribers, developed in partnership with OpenAI, backed by Microsoft Corp. (MSFT). The feature, enabled by default, raised privacy concerns among users, including Amazon.com Inc.'s (AMZN) CTO Werner Vogels. Dropbox CEO Drew Houston denied sharing user data with third parties, but the option to disable the AI search has been hidden, causing further controversy.

Portfolio Pulse from Rounak Jain

December 19, 2023 | 11:02 am

UBS analyst Rich Hilliker has initiated coverage on Dropbox (NASDAQ:DBX) with a Buy rating and set a price target of $36 for the company's stock.

Portfolio Pulse from Benzinga Newsdesk

December 15, 2023 | 10:21 am

Dropbox (NASDAQ:DBX) reported Q3 earnings of $0.56 per share, beating the analyst consensus estimate of $0.49 by 14.29%. This is a 30.23% increase from the same period last year. The company also reported quarterly sales of $633.00 million, beating the analyst consensus estimate of $628.94 million by 0.64%. This is a 7.11% increase from the same period last year.

Portfolio Pulse from Benzinga Newsdesk

November 02, 2023 | 8:25 pm

US stocks are expected to start strong on Thursday, following the Federal Reserve's decision to pause, which has boosted market optimism. Traders are also anticipating positive earnings reports, including Apple's Q4 report. The decline in bond yields, driven by rising rate-cut expectations, could be viewed favorably by investors. Traders will also be monitoring job market data ahead of Friday’s crucial non-farm payrolls report for September. Several companies including Roku, Fastly, Etsy, Clorox, Lemonade, PayPal, Qualcomm, Starbucks, and Tandem Diabetes Care have seen significant premarket movements following their earnings releases.

Portfolio Pulse from Shanthi Rexaline

November 02, 2023 | 11:19 am

The third-quarter earnings season has been mixed, with some high-profile companies like Meta Platforms and Alphabet disappointing investors, while others like Microsoft and Amazon have calmed nerves with positive results. Energy giants Exxon Mobil and Chevron reported below-consensus earnings, dragging down the profit growth of S&P 500 companies. This week, tech companies like Apple, AMD, and Qualcomm are set to release their earnings, which could influence the near-term trajectory of the equity market. The market is also awaiting the Fed decision due Wednesday.

Portfolio Pulse from Shanthi Rexaline

October 30, 2023 | 7:40 am

Dropbox Inc. has entered into a lease amendment for its corporate headquarters, surrendering 165,244 square feet of office space and paying $79.0 million in termination payments. The termination payment of $28.1 million paid in Q4 2023 was not previously factored into the company's full-year free cash flow guidance range of $820 million to $840 million.

Portfolio Pulse from Benzinga Newsdesk

October 20, 2023 | 8:09 pm

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