Analysts Anticipate Dropbox Inc (DBX) to Announce $0.06 Earnings Per Share

Brokerages expect that Dropbox Inc (NASDAQ:DBX) will announce $0.06 earnings per share for the current quarter, according to Zacks Investment Research. Seven analysts have issued estimates for Dropbox’s earnings, with estimates ranging from $0.05 to $0.08. Dropbox reported earnings of $0.08 per share in the same quarter last year, which would suggest a negative year-over-year growth rate of 25%. The firm is expected to announce its next earnings results on Thursday, May 9th.

According to Zacks, analysts expect that Dropbox will report full-year earnings of $0.39 per share for the current financial year, with EPS estimates ranging from $0.31 to $0.49. For the next fiscal year, analysts forecast that the business will report earnings of $0.57 per share, with EPS estimates ranging from $0.49 to $0.72. Zacks’ EPS calculations are a mean average based on a survey of sell-side analysts that follow Dropbox.

Dropbox (NASDAQ:DBX) last posted its quarterly earnings data on Thursday, February 21st. The company reported ($0.02) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.05) by $0.03. Dropbox had a negative net margin of 34.84% and a negative return on equity of 77.19%. The firm had revenue of $375.90 million for the quarter, compared to the consensus estimate of $369.64 million.

A number of research firms have commented on DBX. Zacks Investment Research downgraded shares of Dropbox from a “buy” rating to a “hold” rating in a research note on Tuesday, April 9th. ValuEngine downgraded shares of Dropbox from a “buy” rating to a “hold” rating in a research note on Monday, February 4th. Bank of America upgraded shares of Dropbox from a “neutral” rating to a “buy” rating and set a $33.00 price objective on the stock in a research note on Friday, February 22nd. Finally, Jefferies Financial Group reduced their price objective on shares of Dropbox to $32.00 in a research note on Friday, February 22nd. Five investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $33.23.

NASDAQ DBX traded down $0.65 during trading hours on Wednesday, reaching $21.15. 3,982,348 shares of the company traded hands, compared to its average volume of 2,624,733. Dropbox has a 12 month low of $18.50 and a 12 month high of $43.50. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.45 and a quick ratio of 1.45. The company has a market capitalization of $8.77 billion and a price-to-earnings ratio of -16.15.

In other news, insider Yamini Rangan sold 5,633 shares of the firm’s stock in a transaction dated Wednesday, February 20th. The shares were sold at an average price of $26.00, for a total value of $146,458.00. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Quentin Clark sold 16,666 shares of the firm’s stock in a transaction dated Monday, March 25th. The stock was sold at an average price of $21.60, for a total transaction of $359,985.60. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 90,711 shares of company stock worth $2,074,056.

Large investors have recently modified their holdings of the stock. Quantamental Technologies LLC bought a new stake in Dropbox in the 4th quarter valued at about $33,000. Pearl River Capital LLC bought a new stake in Dropbox in the 4th quarter valued at about $35,000. Advisory Services Network LLC lifted its position in Dropbox by 272.7% in the 4th quarter. Advisory Services Network LLC now owns 2,050 shares of the company’s stock valued at $42,000 after purchasing an additional 1,500 shares during the last quarter. Capital Investment Advisory Services LLC bought a new stake in Dropbox in the 4th quarter valued at about $57,000. Finally, First Interstate Bank bought a new stake in Dropbox in the 4th quarter valued at about $82,000. Hedge funds and other institutional investors own 31.97% 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 has strategic partnership with Zoom Video Communications, Inc Dropbox Inc was founded in 2007 and is headquartered in San Francisco, California.

Recommended Story: What is the outlook for the FAANG stocks?

Get a free copy of the Zacks research report on Dropbox (DBX)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Dropbox (NASDAQ:DBX)

Receive News & Ratings for Dropbox Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Dropbox and related companies with MarketBeat.com's FREE daily email newsletter.