Dropbox Inc [DBX] is -20.32% lower this YTD. Is it still time to buy?

Dropbox Inc [NASDAQ: DBX] gained 0.56% on the last trading session, reaching $23.49 price per share at the time. The company report on April 11, 2024 at 9:00 AM that Investor Activity Surpasses 2021 Engagement Levels, Hits Q1 Record High According to DocSend 2024 Data.

Investors and founders are busier, showing significant quarterly and yearly growth in future dealmaking metrics.

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DocSend, a secure document sharing platform and Dropbox (NASDAQ: DBX) company, today released a data analysis showing that investor pitch deck engagement was higher for most of Q1 than all six previous years tracked — including record-breaking 2021 — according to its Pitch Deck Interest (PDI) metrics. Investor activity hit a weekly Q1 record high, spiking by 21.7% in early March. Founder pitch deck supply surged by over 20% compared to Q1 2021, signaling fertile ground for VCs looking to invest.

If compared to the average trading volume of 4.22M shares, DBX reached a trading volume of 2502135 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 $30.30 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 2.79. 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.

JP Morgan have made an estimate for Dropbox Inc shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on February 16, 2024. The new note on the price target was released on February 16, 2024, representing the official price target for Dropbox Inc stock. Previously, the target price had yet another drop from $26 to $24, while Goldman kept a Sell rating on DBX stock. On February 16, 2024, analysts decreased their price target for DBX shares from 34 to 28.

The Average True Range (ATR) for Dropbox Inc is set at 0.48, with the Price to Sales ratio for DBX stock in the period of the last 12 months amounting to 3.23. Price to Free Cash Flow for DBX in the course of the last twelve months was 10.64 with Quick ratio for the last quarter at 1.24.

Trading performance analysis for DBX stock

Dropbox Inc [DBX] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 1.12. With this latest performance, DBX shares dropped by -1.47% in over the last four-week period, additionally sinking by -15.90% over the last 6 months – not to mention a rise of 13.15% 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 35.56, with the RSI for the last a single of trading hit 37.16, and the three-weeks RSI is set at 35.73 for Dropbox Inc [DBX]. The present Moving Average for the last 50 days of trading for this stock 26.00, while it was recorded at 23.34 for the last single week of trading, and 27.47 for the last 200 days.

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

Dropbox Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.24 and a Current Ratio set at 1.24.

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

With the latest financial reports released by the company, Dropbox Inc posted 0.42/share EPS, while the average EPS was predicted by analysts to be reported at 0.36/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 16.70%. 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 7.80%.

An analysis of Institutional ownership at Dropbox Inc [DBX]

The top three institutional holders of DBX stocks are: VANGUARD GROUP INC with ownership of 1.32 billion shares, which is approximately 8.4983%. BLACKROCK INC., holding 1.04 billion shares of the stock with an approximate value of $200.69 billion in DBX stocks shares; and BERKSHIRE HATHAWAY INC, currently with $174.35 billion in DBX stock with ownership which is approximately 5.8386%.