$0.17 Earnings Per Share Expected for Dropbox Inc (NASDAQ:DBX) This Quarter

Equities research analysts predict that Dropbox Inc (NASDAQ:DBX) will post $0.17 earnings per share (EPS) for the current fiscal quarter, Zacks reports. Three analysts have provided estimates for Dropbox’s earnings, with the lowest EPS estimate coming in at $0.15 and the highest estimate coming in at $0.18. Dropbox posted earnings per share of $0.10 in the same quarter last year, which would suggest a positive year-over-year growth rate of 70%. The company is expected to report its next earnings report on Thursday, August 13th.

According to Zacks, analysts expect that Dropbox will report full year earnings of $0.74 per share for the current fiscal year, with EPS estimates ranging from $0.68 to $0.79. For the next financial year, analysts forecast that the business will report earnings of $0.90 per share, with EPS estimates ranging from $0.78 to $0.97. Zacks’ earnings per share calculations are an average based on a survey of analysts that that provide coverage for Dropbox.

Dropbox (NASDAQ:DBX) last released its quarterly earnings data on Thursday, May 7th. The company reported $0.17 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.02) by $0.19. Dropbox had a negative net margin of 0.33% and a positive return on equity of 1.98%. The firm had revenue of $455.00 million for the quarter, compared to the consensus estimate of $451.27 million. During the same period last year, the firm earned $0.10 earnings per share. The company’s quarterly revenue was up 18.0% on a year-over-year basis.

Several brokerages have weighed in on DBX. Royal Bank of Canada raised their target price on shares of Dropbox from $28.00 to $30.00 and gave the company an “outperform” rating in a research note on Friday, May 8th. Macquarie restated a “buy” rating and issued a $35.00 target price on shares of Dropbox in a research note on Tuesday, February 25th. TheStreet upgraded shares of Dropbox from a “d” rating to a “c” rating in a research note on Friday, May 8th. Citigroup began coverage on shares of Dropbox in a research note on Friday, May 15th. They issued a “buy” rating and a $27.00 target price for the company. Finally, Canaccord Genuity restated a “buy” rating and issued a $30.00 target price on shares of Dropbox in a research note on Friday, February 21st. Two analysts have rated the stock with a sell rating, three have assigned a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $26.92.

In related news, insider Arash Ferdowsi sold 39,521 shares of the firm’s stock in a transaction on Wednesday, March 18th. The shares were sold at an average price of $17.03, for a total transaction of $673,042.63. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Ajay Vashee sold 41,250 shares of the firm’s stock in a transaction on Tuesday, April 28th. The stock was sold at an average price of $21.08, for a total transaction of $869,550.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 940,090 shares of company stock valued at $18,235,291. 31.20% of the stock is currently owned by corporate insiders.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Amalgamated Bank increased its holdings in Dropbox by 1.9% in the fourth quarter. Amalgamated Bank now owns 32,986 shares of the company’s stock valued at $591,000 after buying an additional 600 shares in the last quarter. IFM Investors Pty Ltd grew its position in shares of Dropbox by 3.5% in the first quarter. IFM Investors Pty Ltd now owns 21,616 shares of the company’s stock valued at $392,000 after purchasing an additional 738 shares during the period. Creative Planning grew its position in shares of Dropbox by 3.3% in the fourth quarter. Creative Planning now owns 24,005 shares of the company’s stock valued at $430,000 after purchasing an additional 760 shares during the period. Nissay Asset Management Corp Japan ADV grew its position in shares of Dropbox by 4.7% in the first quarter. Nissay Asset Management Corp Japan ADV now owns 24,183 shares of the company’s stock valued at $438,000 after purchasing an additional 1,076 shares during the period. Finally, Panagora Asset Management Inc. grew its position in shares of Dropbox by 1.8% in the fourth quarter. Panagora Asset Management Inc. now owns 65,901 shares of the company’s stock valued at $1,180,000 after purchasing an additional 1,168 shares during the period. 47.02% of the stock is owned by institutional investors.

Shares of NASDAQ DBX traded down $0.02 during midday trading on Tuesday, reaching $22.57. 5,315,889 shares of the company’s stock traded hands, compared to its average volume of 7,443,853. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 1.15. The stock’s 50 day simple moving average is $20.63 and its 200-day simple moving average is $18.85. Dropbox has a one year low of $14.55 and a one year high of $26.20. The company has a market cap of $9.33 billion, a price-to-earnings ratio of -1,128.50 and a beta of 0.87.

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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