Dropbox shares up as Q1 results beat expectations

Dropbox

10/05/2024 15:19

** Shares of Dropbox  DBX.O  up ~2% in choppy early trading
after the file hosting service co reports stronger-than-expected
Q1 results
    ** Its stock was last at $23.60
    ** Based on late Thurs report, DBX posted Q1 rev up 3.3%
yr/yr at $631.30 mln vs Wall St expectations of $628.67 mln, per
LSEG data
    ** Analysts at Jefferies in a note write that DBX delivered
a "modest top line and bottom line beat," but add that
"questions around growth still remain." 
    ** Jefferies has a "hold" rating on DBX; overall analyst
recommendations on the stock are three "buy", six "hold" and
three "sell" ratings, per LSEG 
    ** Median PT of $28 down for $30 a month ago
    ** Including session move, DBX is down ~20% YTD vs >9% gain
in the Nasdaq  .IXIC 

 (Reporting by Caroline Valetkevitch)
 ((caroline.valetkevitch@thomsonreuters.com))