During the recent session, Dropbox, Inc. (NASDAQ:DBX)’s traded shares were 2,091,621, with the beta value of the company hitting 0. At the last check, the stock’s price was $27.83, reflecting an intraday gain of 0.76% or $0.21. The 52-week high for the DBX share is $28.33, that puts it down -1.8% from that peak though still a striking +37.77% gain since the share price plummeted to a 52-week low of $17.32. The company’s market capitalization is $11.2 Billion, and the average intraday trading volume over the past 10 days was 4.95 Million shares, and the average trade volume was 8.31 Million shares over the past three months.
Dropbox, Inc. (DBX) received a consensus recommendation of Overweight from analysts. That translates to a mean rating of 2.2. DBX has a Sell rating from none of the analyst(s) out of 12 analysts who have looked at this stock. 2 analyst(s) recommend to Hold the stock while none of them suggest Overweight, and 8 recommend a Buy rating for it. 2 analyst(s) has rated the stock Underweight. Company’s earnings per share (EPS) for the current quarter are expected to be $0.3.
Dropbox, Inc. (NASDAQ:DBX): Trading Information
Dropbox, Inc. (DBX) registered a 0.76% upside in the last session and has traded in the green over the past 5 sessions. The stock spiked 1.33% in intraday trading to $28.14 this Wednesday, Apr 07, hitting a weekly high. The stock’s 5-day price performance is 4.13%, and it has moved by 16.84% in 30 days. Based on these gigs, the overall price performance for the year is 25.1%. The short interest in Dropbox, Inc. (NASDAQ:DBX) is 27.03 Million shares and it means that shorts have 3.25 day(s) to cover.
The consensus price target of analysts on Wall Street is $30.38, which implies an increase of 9.16% to the stock’s current value. The extremes of the forecast give a target low and a target high price of $23 and $37 respectively. As a result, DBX is trading at a discount of 32.95% off the target high and -17.36% off the low.
Dropbox, Inc. (DBX) projections and forecasts
Statistics show that Dropbox, Inc. has outperformed its competitors in share price, compared to the industry in which it operates. Dropbox, Inc. (DBX) shares have gone up +41.57% during the last six months, with a year-to-date growth rate more than the industry average at 34.41% against 7.2%. Yet analysts are ramping up their growth forecast for the fiscal year 2021. Revenue is predicted to grow 76.5% this quarter and then jump 40.9% in the quarter after that. In the rating firms’ projections, revenue will increase 10.1% compared to the previous financial year.
Revenue for the current quarter is expected to be $505.18 Million as predicted by 9 analyst(s). Meanwhile, a consensus of 8 analyst(s) estimates revenue growth to $517.65 Million by the end of June 2021. As per earnings report from last fiscal year’s results, sales for the corresponding quarters totaled $455Million and $465.29 Million respectively. In this case, analysts expect current quarter sales to grow by 11% and then jump by 11.3% in the coming quarter.
An analysis of the company’s performance over the past 5 years shows that the company’s earnings grew an estimated 5.7%. While earnings are projected to return -383.2% in 2021, the next five years will return 16.8% per annum.
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Dropbox, Inc. (NASDAQ:DBX)’s Biggest Investors
Dropbox, Inc. insiders own 4.9% of total outstanding shares while institutional holders control 82.59%, with the float percentage being 86.84%. Vanguard Group, Inc. (The) is the largest shareholder of the company, while 619 institutions own stock in it. As of Dec 30, 2020, the company held over 30.14 Million shares (or 9.1% of all shares), a total value of $668.84 Million in shares.
The next largest institutional holding, with 17.06 Million shares, is of Renaissance Technologies, LLC’s that is approximately 5.15% of outstanding shares. At the market price on Dec 30, 2020, these shares were valued at $378.6 Million.
Also, the Mutual Funds coming in first place with the largest holdings of Dropbox, Inc. (DBX) shares are Vanguard Total Stock Market Index Fund and Columbia Fds Ser Tr II-Columbia Seligman Communications & Information. Data provided on Dec 30, 2020 indicates that Vanguard Total Stock Market Index Fund owns about 8,491,513 shares. This amounts to just over 2.56 percent of the company’s overall shares, with a $188.43 Million market value. The same data shows that the other fund manager holds slightly less at 7.74 Million, or about 2.34% of the stock, which is worth about $154.52 Million.