Dropbox Inc. (NASDAQ:DBX) closed Thursday at $20.44 per share, down from $21.09 a day earlier. While Dropbox Inc. has underperformed by -3.08%, investors are advised to look at stock chart patterns for technical insight. Within its last year performance, DBX fell by -33.16%, with highs and lows ranging from $31.55 to $19.07, whereas the simple moving average fell by -9.99% in the last 200 days.
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On September 13, 2022, KeyBanc Capital Markets started tracking Dropbox Inc. (NASDAQ: DBX) recommending Overweight. A report published by BofA Securities on September 06, 2022, Initiated its previous ‘Buy’ rating for DBX. Citigroup also rated DBX shares as ‘Neutral’, setting a target price of $24 on the company’s shares in an initiating report dated September 01, 2022. Berenberg Initiated an Hold rating on December 02, 2021, and assigned a price target of $25. RBC Capital Mkts initiated its ‘Outperform’ rating for DBX, as published in its report on June 11, 2021. Goldman’s report from May 14, 2021 suggests a price prediction of $26 for DBX shares, giving the stock a ‘Sell’ rating. KeyBanc Capital Markets also rated the stock as ‘Sector Weight’.
Analysis of Dropbox Inc. (DBX)
Further, the quarter-over-quarter increase in sales is 7.90%, showing a positive trend in the upcoming months.
There are several well-rounded types of analysis and research techniques that can be used to gain a clear view of Dropbox Inc.’s future performance, with equity being one of the most critical indicators. The goal here is to ensure that your current return on equity of -93.50% is sufficient for you to turn a profit off your investment. Taking into account the quick ratio of the company, currently set at 1.40, you can see that the company can cover any debts it may have, which can easily be seen in the annual report of the company.
As an indicator of volatility for any stock, average volume can also be very valuable, and DBX is recording an average volume of 2.30M. On a monthly basis, the volatility of the stock is set at 2.55%, whereas on a weekly basis, it is put at 2.76%, with a loss of -6.32% over the past seven days. Furthermore, long-term investors anticipate a median target price of $28.21, showing growth from the present price of $20.44, which can serve as yet another indication of whether DBX is worth investing in or should be passed over.
How Do You Analyze Dropbox Inc. Shares?
Dropbox Inc. (DBX) is based in the USA and is one of the most prominent companies operating in the Software – Infrastructure market. When comparing Dropbox Inc. shares with other companies under Technology, the P/E value is an influential factor to note. This is because it represents an indication of the future growth of the company in terms of investors’ expectations. Ultimately, the value of the latter should demonstrate steady, rapid growth, which is an accurate measure of the company’s progress. In addition to the value of 19.39, there is a growth in quarterly earnings of -36.80%.
Apart from looking at the fundamentals, you should also pay attention to the number of company employees who own shares. This is because the values should be in line with investors’ expectations. As such, the current holdings of company stock inside the company are set at 0.90%. This can enable you to see the extent to which executives own the company’s stock. As opposed to executive stock, institutional ownership accounts for 82.80% of the company’s shares, contributing to an indication of company value, since large shareholders may signify strength within the organization.
Are institutional investors increasing their holdings in DBX shares?
The recent increase in stakes in DBX appears to be a result of several institutional investors and hedge funds increasing their positions. The Vanguard Group, Inc.’s position in DBX has decreased by -0.49% in the first quarter. The company now owns 30,460,821 shares of the stock, with a value of $651.56 million, following the sale of -149,802 additional shares during the last quarter. Columbia Management Investment Ad made another increased to its shares in DBX during the first quarter, upping its stake by 8.29%. During the last quarter, the company dropped down 1,239,763 additional shares for a total stake of worth $346.24 million, bringing number of shares owned by the company to 16,186,917.
During the first quarter, BlackRock Fund Advisors subtracted a -952,183 position in DBX. Pictet Asset Management SA purchased an additional 65785.0 shares in the last quarter, increasing its holdings by 0.61%, now holding 10.77 million shares worth $230.32 million. At the end of the first quarter, Renaissance Technologies LLC increased its DBX holdings by 16.69% and now holds 9.58 million DBX shares valued at $204.92 million with the added 1.37 million shares during the period. DBX shares are owned by institutional investors to the tune of 82.80% at present.