Dropbox Inc. (NASDAQ: DBX) stock jumped 1.99% on Thursday to $22.51 against a previous-day closing price of $22.07. With 3.47 million shares changed hands, the volume of the stock remained lighter than its average volume of 3.56 million shares. During the session, the Software – Infrastructure company that operates in wider Technology sector, reached to the highest price of $22.56 whereas the lowest price it dropped to was $22.06. The 52-week range on DBX shows that it touched its highest point at $24.99 and its lowest point at $18.71 during that stretch. It currently has a 1-year price target of $26.62. Beta for the stock currently stands at 0.82.
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Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of DBX was down-trending over the past week, with a drop of -0.27%, but this was up by 7.75% over a month. Three-month performance surged to 9.27% while six-month performance rose 0.72%. The stock gained 16.94% in the past year, while it has gained 0.58% so far this year. A look at the trailing 12-month EPS for DBX yields 1.84 with Next year EPS estimates of 2.07. For the next quarter, that number is 0.46. This implies an EPS growth rate of 82.00% for this year and 11.83% for next year. EPS is expected to grow by 12.07% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of 76.40%.
Float and Shares Shorts:
At present, 347.10 million DBX shares are outstanding with a float of 266.79 million shares on hand for trading. On May 14, 2023, short shares totaled 14.56 million, which was 4.17% higher than short shares on Apr 13, 2023. In addition to Mr. Andrew W. Houston as the firm’s Co-Founder, Interim Pres, CEO & Chairman, Mr. Timothy J. Regan CPA serves as its Chief Financial Officer.
Institutional Ownership:
Through their ownership of 87.05% of DBX’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 6.38% of DBX, in contrast to 46.90% held by mutual funds. Shares owned by individuals account for 38.04%. As the largest shareholder in DBX with 10.18% of the stake, The Vanguard Group, Inc. holds 28,097,972 shares worth 28,097,972. A second-largest stockholder of DBX, Columbia Management Investment Ad, holds 16,432,289 shares, controlling over 5.95% of the firm’s shares. BlackRock Fund Advisors is the third largest shareholder in DBX, holding 13,014,158 shares or 4.72% stake. With a 3.34% stake in DBX, the Columbia Seligman Technology & In is the largest stakeholder. A total of 9,209,709 shares are owned by the mutual fund manager. The Vanguard Total Stock Market ETF, which owns about 2.96% of DBX stock, is the second-largest Mutual Fund holder. It holds 8,161,476 shares valued at 166.0 million. Pictet – Robotics holds 2.86% of the stake in DBX, owning 7,889,920 shares worth 160.48 million.
An Overview of Recent Financials:
Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. In its fiscal quarter reported on Mar 30, 2023, DBX reported revenue of $572.70M and operating income of $91.60M. The EBITDA in the recently reported quarter was $139.50M and diluted EPS was $0.17.
Analysts Ratings:
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for DBX since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With DBX analysts setting a high price target of $34.00 and a low target of $18.00, the average target price over the next 12 months is $27.06. Based on these targets, DBX could surge 51.04% to reach the target high and fall by -20.04% to reach the target low. Reaching the average price target will result in a growth of 20.21% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy.
Summary of Insider Activity:
Insiders traded DBX stock several times over the past three months with 2 Buys and 6 Sells. In these transactions, 379,271 shares were bought while 41,634 shares were sold. The number of buy transactions has increased to 3 while that of sell transactions has risen to 41 over the past year. The total number of shares bought during that period was 541,771 while 1,105,301 shares were sold.
