PREVIEW: Dropbox shares dip ahead of quarterly report
09/05/2024 19:35
** Shares in Dropbox Inc DBX.O down 0.6% on Thursday ahead of
quarterly report due after market close
** Wall Street sees the provider of services such as secure
document sharing reporting Q1 adj EPS of $0.50 vs $0.42 in
year-ago quarter on rev of $628.67 mln, which would be up 2.9%
y/y, according to the latest data from LSEG
** DBX met or beat consensus Street estimate for EPS,
revenue in all of the last 8 quarters
** But in the day after DBX last quarterly report its shares
fell more than 22% for a record one-day price decline
** Stock last traded at $23.15 compared with median PT of
$28, according to LSEG, which shows ratings from 12 analysts: 3
'buy,' 6 'hold' and 3 'sell' ratings
** YTD shares in DBX last down 21.5% vs a 17.5% gain for the
S&P 400 information technology sector index .SPMDCT
(Reporting By Sinéad Carew)
((sinead.carew@thomsonreuters.com; +13322191897;))