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Shares of Dropbox (DBX) have gained 0% over the past four weeks to close the last trading session at $23.49, but there could still be a solid upside left in the stock if short-term price targets of Wall Street analysts are any indication. Going by the price targets, the mean estimate of $30.11 indicates a potential upside of 28.2%.The mean estimate comprises nine short-term price targets with a standard deviation of $4.57. While the lowest estimate of $24 indicates a 2.2% increase from the current price lev ...

Investors and founders are busier, showing significant quarterly and yearly growth in future dealmaking metricsSAN FRANCISCO, April 11, 2024 /PRNewswire/ -- 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, spiki ...

NEW YORK--(BUSINESS WIRE)--Half Moon Capital, LLC is releasing its open letter to the Board of Directors of Dropbox (Nasdaq:DBX) and seeks to engage constructively on corrective course. February 28, 2024 Members of the Board, Half Moon Capital, LLC, is a long-term investor in Dropbox, Inc. (“Dropbox” or the “Company”). We have engaged in meaningful discussions with the Company since initiating our investment in June 2022. As paying users of the recently “deemphasized” Family Plan, and shareholders of D ...

Key PointsShares have been plummeting since their earnings report showed further signs of revenue growth slowing. However, the stock is now well below all the refreshed analyst price targets and is looking extremely oversold. Much work remains to be done to turn things around, but in the meantime, this is a bargain worth taking a risk on.5 stocks we like better than DropboxWhen does a falling knife become just too tempting not to try and catch? With the broader equity market surging to record highs on the b ...

Shares of cloud storage company Dropbox (DBX -23.92%) fell as much as 23.1% on Friday after the company reported earnings results. Shares were hitting their low around 3 p.m. ET. Results weren't all that bad for the fourth quarter, but investors are focused on guidance and analyst reactions today. Results and guidance for Dropbox Dropbox reported a 6% increase in revenue to $635 million and net income of $227.3 million, or $0.66 per share. Non-GAAP (adjusted) earnings per share were $0.50. This topped analy ...

Dropbox (DBX) reported fourth-quarter 2023 non-GAAP earnings of 50 cents per share, beating the Zacks Consensus Estimate by 4.17% and increasing 25% year over year.Revenues of $635 million increased 6% year over year and beat the consensus mark by 0.67%.Total annual recurring revenues came in at $2.523 billion, up 0.3% year over year.Quarter DetailsDropbox exited the fourth quarter of 2023 with 18.12 million paying users, marking a sequential decline of roughly 0.05 million. The average revenue per paying u ...

Financial Data and Key Metrics - Total revenue for Q4 2023 increased 6% year-over-year to $635 million, beating the guidance range of $629 million to $632 million [69] - The company exited Q4 with 18.12 million paying users, reflecting a sequential decline of roughly 50,000 paying users due to factors such as the de-emphasis of the family plan and macro headwinds [70] - Non-GAAP operating margin for Q4 was 32.2%, up 200 basis points year-over-year, driven by efficiency in spending [128] - Free cash flow for Q4 was $190 million, compared to $182 million in Q4 2022 [72] - The company repurchased nearly 4 million shares in Q4, spending approximately $106 million [129] Business Line Data and Key Metrics - The File Sync and Share (FSS) business saw seasonally low activity in Q4, with FormSwift also experiencing a seasonal low point [70][24] - The Teams business faced challenges due to macro headwinds, with customers reducing licenses and showing higher price sensitivity [55][70] - Dropbox Dash, the AI-powered universal search product, is still in its early stages, with the company focusing on product-market fit and adoption before monetization [75][64] Market Data and Key Metrics - The company noted a challenging macroeconomic environment, particularly for SMBs, with customers becoming more price-sensitive and reducing licenses [55][70] - The tech sector, in particular, saw headcount reductions, which impacted Dropbox's Teams business [55][70] - The company expects to add paying users in 2024, but at lower levels than prior years due to continued headwinds [105] Company Strategy and Industry Competition - Dropbox is focusing on improving the user experience, particularly in the FSS business, by streamlining workflows and improving team onboarding [60][61] - The company is investing in AI-powered products like Dash, aiming to solve challenges related to cloud-based content organization and search [63][64] - Dropbox is also iterating on pricing and packaging for its Teams plans, with a focus on multi-product bundles and improving customer awareness of its capabilities beyond storage [58][59] Management Commentary on Operating Environment and Future Outlook - Management acknowledged a challenging Q4, with some expected headwinds such as seasonality and macro pressures, but also noted progress in improving profitability and investing in long-term growth initiatives [84][85] - The company is optimistic about the potential of AI-powered products like Dash, but expects it will take time before these initiatives contribute meaningfully to top-line results [67][75] - Dropbox is committed to returning a significant portion of its free cash flow to shareholders through share repurchases, with the intention of reducing share count [102] Other Important Information - The company executed a buyout of approximately 40% of its remaining sublease space in San Francisco, resulting in a $159 million gain in Q4 2023 [100][71] - Dropbox expects finance lease additions to increase in 2024, driven by a hardware refresh cycle and one-time storage quota grants for advanced plan customers [106][181] - The company announced a partnership with McLaren Formula 1 racing to drive awareness of its platform's capabilities, including secure file sharing and video collaboration [95] Summary of Q&A Session Question: How is Dropbox measuring the success of Dash? - Dropbox is measuring Dash's success through product quality, onboarding success, engagement, retention, and eventually monetization [112][113][114] Question: What are the learnings from the pricing and packaging changes? - The company learned that while some changes led to higher attachment rates for multiple products, others resulted in decreased new subscriptions for Teams SKUs [147][148] Question: How is the macro environment impacting Dropbox's business? - The macro environment has led to increased price sensitivity and reduced license counts, particularly in the tech sector, with SMBs facing down-sell pressure [150][151][163] Question: What is the outlook for M&A? - Dropbox sees M&A as an opportunity to accelerate its roadmap, particularly in AI, but remains disciplined in its approach due to the current market environment [138][139][140] Question: What is the guidance for free cash flow in 2024? - The company expects free cash flow to be in the range of $910 million to $950 million, below its long-term target due to slower billings growth, FX headwinds, and investments in Dash [175][134]

Dropbox (DBX) came out with quarterly earnings of $0.50 per share, beating the Zacks Consensus Estimate of $0.48 per share. This compares to earnings of $0.40 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 4.17%. A quarter ago, it was expected that this online file-sharing company would post earnings of $0.48 per share when it actually produced earnings of $0.56, delivering a surprise of 16.67%.Over the last four quarters, th ...

Dropbox Safe Harbor Statement Forward-looking statements are based on information available at the time those statements are made or management's good-faith beliefs and assumptions as of that time with respect to future events, and are subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed in, or suggested by, the forward-looking statements. In light of these risks and uncertainties, the events and circumstances contemplated by the forward ...