3-May-2024
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PRNewswire (Thu, 11-Apr 9:00 AM ET)
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Dropbox Announces Fourth Quarter and Fiscal 2023 Results
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Business Wire (Tue, 6-Feb 9:00 AM ET)
Dropbox is a leading provider of cloud-storage and content collaboration tools with an emphasis on individuals and SMB. The company was founded in 2007 and was a pioneer in cloud storage and cross-platform file syncing. Utilizing inorganic and organic means, the firm has been working on diversifying its product mix and pivoting away from the cloud-storage space.
Dropbox - Class A trades on the NASDAQ stock market under the symbol DBX.
As of May 3, 2024, DBX stock price declined to $23.37 with 3,502,078 million shares trading.
DBX has a beta of 0.82, meaning it tends to be less sensitive to market movements. DBX has a correlation of 0.08 to the broad based SPY ETF.
DBX has a market cap of $8.04 billion. This is considered a Mid Cap stock.
Last quarter Dropbox - Class A reported $635 million in Revenue and $.50 earnings per share. This beat revenue expectation by $4 million and exceeded earnings estimates by $.02.
In the last 3 years, DBX stock traded as high as $33.43 and as low as $18.71.
The top ETF exchange traded funds that DBX belongs to (by Net Assets): RAYD, VTI, IJH, VB, COWZ.
DBX has underperformed the market in the last year with a price return of +17.6% while the SPY ETF gained +27.0%. DBX has also underperformed the stock market ETF in the last 3 month and 2 week periods returning -28.0% and +1.7%, respectively, while the SPY returned +3.7% and +3.3%, respectively.
DBX support price is $23.25 and resistance is $23.93 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that DBX stock will trade within this expected range on the day.