Canaccord Genuity analyst Richard Davis reiterated a Buy rating on Dropbox Inc (DBX) on November 8 and set a price target of $35. The company’s shares opened today at $24.09, close to its 52-week low of $21.36.
According to TipRanks.com, Davis is a top 25 analyst with an average return of 35.9% and a 77.5% success rate. Davis covers the Technology sector, focusing on stocks such as Ceridian HCM Holding Inc, Altair Engineering Inc, and Upland Software.
Currently, the analyst consensus on Dropbox Inc is a Moderate Buy with an average price target of $34.13, representing a 41.7% upside. In a report issued on November 9, RBC Capital also maintained a Buy rating on the stock with a $37 price target.
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Based on Dropbox Inc’s latest earnings release for the quarter ending September 30, the company reported a quarterly GAAP net loss of $5.8 million. In comparison, last year the company had a GAAP net loss of $14.1 million.
Based on the recent corporate insider activity of 39 insiders, corporate insider sentiment is negative on the stock.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
Dropbox, Inc. is a collaboration platform that’s transforming the way people and teams work together. It offers following products: Dropbox Basic, Plus, Professional and Business. The Dropbox Basic is the simple, powerful home for photos, videos, docs, and other files.
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