$0.08 EPS Expected for Dropbox Inc (DBX) This Quarter

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Brokerages forecast that Dropbox Inc (NASDAQ:DBX) will post earnings per share (EPS) of $0.08 for the current quarter, Zacks reports. Seven analysts have made estimates for Dropbox’s earnings, with the lowest EPS estimate coming in at $0.06 and the highest estimate coming in at $0.09. The company is scheduled to announce its next earnings report on Thursday, February 14th.

On average, analysts expect that Dropbox will report full year earnings of $0.38 per share for the current financial year, with EPS estimates ranging from $0.36 to $0.39. For the next fiscal year, analysts forecast that the company will post earnings of $0.45 per share, with EPS estimates ranging from $0.36 to $0.53. Zacks’ earnings per share calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Dropbox.

Dropbox (NASDAQ:DBX) last released its quarterly earnings data on Thursday, November 8th. The company reported ($0.01) earnings per share for the quarter, missing the consensus estimate of $0.06 by ($0.07). The company had revenue of $360.30 million for the quarter, compared to the consensus estimate of $352.74 million. Dropbox had a negative return on equity of 158.23% and a negative net margin of 38.83%. Dropbox’s revenue was up 25.7% on a year-over-year basis.

Several analysts have recently commented on DBX shares. William Blair started coverage on Dropbox in a research report on Tuesday, December 11th. They issued an “outperform” rating for the company. Zacks Investment Research cut Dropbox from a “buy” rating to a “hold” rating in a research report on Wednesday, November 21st. Canaccord Genuity decreased their target price on Dropbox from $38.00 to $35.00 and set a “buy” rating for the company in a research report on Friday, November 9th. Nomura raised Dropbox from a “reduce” rating to a “neutral” rating and raised their target price for the stock from $21.00 to $25.00 in a research report on Tuesday, October 2nd. Finally, Monness Crespi & Hardt started coverage on Dropbox in a research report on Monday, August 27th. They issued a “neutral” rating for the company. Five analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $33.93.

In related news, General Counsel Bart Volkmer sold 4,303 shares of the stock in a transaction on Tuesday, November 20th. The stock was sold at an average price of $21.00, for a total transaction of $90,363.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Ajay Vashee sold 13,731 shares of the stock in a transaction on Monday, September 24th. The stock was sold at an average price of $26.10, for a total value of $358,379.10. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 292,096 shares of company stock valued at $7,329,748.

Several large investors have recently made changes to their positions in DBX. Janney Montgomery Scott LLC purchased a new stake in shares of Dropbox during the second quarter worth $331,000. Raymond James Financial Services Advisors Inc. purchased a new stake in shares of Dropbox during the second quarter worth $254,000. TD Asset Management Inc. raised its holdings in shares of Dropbox by 42.3% during the second quarter. TD Asset Management Inc. now owns 27,263 shares of the company’s stock worth $884,000 after acquiring an additional 8,100 shares in the last quarter. First Trust Advisors LP purchased a new stake in shares of Dropbox during the second quarter worth $6,417,000. Finally, Victory Capital Management Inc. raised its holdings in shares of Dropbox by 1.1% during the second quarter. Victory Capital Management Inc. now owns 574,901 shares of the company’s stock worth $18,638,000 after acquiring an additional 6,100 shares in the last quarter. Institutional investors and hedge funds own 21.57% of the company’s stock.

DBX opened at $21.46 on Friday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.43 and a current ratio of 1.43. Dropbox has a fifty-two week low of $19.54 and a fifty-two week high of $43.50.

About Dropbox

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.

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