Dropbox Inc. [DBX] Revenue clocked in at $1.91 billion, up 4.46% YTD: What’s Next?

Dropbox Inc. [NASDAQ: DBX] gained 3.02% on the last trading session, reaching $23.18 price per share at the time. The company report on February 23, 2021 that Dropbox, Inc. Announces $1.135 Billion Convertible Notes Offering.

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Dropbox, Inc. (“Dropbox”) (NASDAQ: DBX) announced its intention to offer, subject to market conditions and other factors, $567.5 million aggregate principal amount of convertible senior notes due March 1, 2026 (the “2026 Notes”) and $567.5 million aggregate principal amount of convertible senior notes due March 1, 2028 (the “2028 Notes” and, together with the 2026 Notes, the “Notes”) in a private placement to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the “Act”). Dropbox also expects to grant the initial purchasers of the Notes a 13-day option to purchase up to an additional $56.75 million aggregate principal amount of 2026 Notes and up to an additional $56.75 million aggregate principal amount of 2028 Notes.

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The Notes will be senior, unsecured obligations of Dropbox, and interest will be payable semi-annually in arrears. For each series of Notes, upon conversion, Dropbox will pay cash up to the aggregate principal amount of Notes to be converted and pay or deliver, as the case may be, cash, shares of Dropbox’s Class A common stock (“Class A common stock”) or a combination of cash and shares of Dropbox’s Class A common stock, at Dropbox’s election, in respect of the remainder. The interest rate, conversion rate, and other terms of the Notes are to be determined upon pricing of the offering.

Dropbox Inc. represents 414.10 million in outstanding shares, while the company has a total market value of $9.96 billion with the latest information. DBX stock price has been found in the range of $21.63 to $23.235.

If compared to the average trading volume of 7.46M shares, DBX reached a trading volume of 12167980 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about Dropbox Inc. [DBX]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for DBX shares is $28.88 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on DBX stock is a recommendation set at 2.10. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

KeyBanc Capital Markets have made an estimate for Dropbox Inc. shares, keeping their opinion on the stock as Sector Weight, with their previous recommendation back on January 15, 2021. While these analysts kept the previous recommendation, BofA Securities dropped their target price from $32 to $25. The new note on the price target was released on July 31, 2020, representing the official price target for Dropbox Inc. stock. Previously, the target price had yet another raise from $22 to $28, while Jefferies kept a Buy rating on DBX stock.

The Average True Range (ATR) for Dropbox Inc. is set at 1.05, with the Price to Sales ratio for DBX stock in the period of the last 12 months amounting to 5.20. The Price to Book ratio for the last quarter was 11.25, with the Price to Cash per share for the same quarter was set at 2.85. Price to Free Cash Flow for DBX in the course of the last twelve months was 24.35 with Quick ratio for the last quarter at 1.30.

Trading performance analysis for DBX stock

Dropbox Inc. [DBX] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -5.35. With this latest performance, DBX shares gained by 4.60% in over the last four-week period, additionally plugging by 15.21% over the last 6 months – not to mention a rise of 6.53% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for DBX stock in for the last two-week period is set at 48.46, with the RSI for the last a single of trading hit 45.43, and the three-weeks RSI is set at 50.36 for Dropbox Inc. [DBX]. The present Moving Average for the last 50 days of trading for this stock 23.18, while it was recorded at 23.52 for the last single week of trading, and 21.35 for the last 200 days.

Dropbox Inc. [DBX]: A deeper dive into fundamental analysis

Operating Margin for any stock indicates how profitable investing would be, and Dropbox Inc. [DBX] shares currently have an operating margin of +6.33 and a Gross Margin at +78.04. Dropbox Inc.’s Net Margin is presently recorded at -13.39.

Return on Total Capital for DBX is now 7.42, given the latest momentum, and Return on Invested Capital for the company is -17.53. Return on Equity for this stock declined to -44.88, with Return on Assets sitting at -10.08. When it comes to the capital structure of this company, Dropbox Inc. [DBX] has a Total Debt to Total Equity ratio set at 335.38. Additionally, DBX Total Debt to Total Capital is recorded at 77.03, with Total Debt to Total Assets ending up at 46.90. Long-Term Debt to Equity for the company is recorded at 278.97, with the Long-Term Debt to Total Capital now at 64.07.

Receivables Turnover for the company is 43.75 with a Total Asset Turnover recorded at a value of 0.75.Dropbox Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.30 and a Current Ratio set at 1.30.

Dropbox Inc. [DBX]: An earnings per share (EPS) analysis

With the latest financial reports released by the company, Dropbox Inc. posted 0.17/share EPS, while the average EPS was predicted by analysts to be reported at 0.14/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 21.40%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for DBX. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Dropbox Inc. go to 16.80%.

An analysis of insider ownership at Dropbox Inc. [DBX]

There are presently around $5,819 million, or 81.50% of DBX stock, in the hands of institutional investors. The top three institutional holders of DBX stocks are: VANGUARD GROUP INC with ownership of 30,141,324, which is approximately 4.863% of the company’s market cap and around 0.80% of the total institutional ownership; RENAISSANCE TECHNOLOGIES LLC, holding 17,061,743 shares of the stock with an approximate value of $395.49 million in DBX stocks shares; and BLACKROCK INC., currently with $367.77 million in DBX stock with ownership of nearly -2.231% of the company’s market capitalization.

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Positions in Dropbox Inc. stocks held by institutional investors increased at the end of February and at the time of the February reporting period, where 242 institutional holders increased their position in Dropbox Inc. [NASDAQ:DBX] by around 41,283,608 shares. Additionally, 183 investors decreased positions by around 47,371,500 shares, while 63 investors held positions by with 162,394,009 shares. The mentioned changes placed institutional holdings at 251,049,117 shares, according to the latest SEC report filing. DBX stock had 100 new institutional investments in for a total of 5,869,762 shares, while 68 institutional investors sold positions of 24,046,579 shares during the same period.

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