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MarketScreener Homepage  >  Equities  >  Nasdaq  >  Dropbox, Inc.    DBX

DROPBOX, INC.

(DBX)
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Dropbox shares rise after upbeat results, share buyback plan

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02/20/2020 | 06:59pm EDT
Illustration photo of the DropBox logo

Dropbox Inc on Thursday reported a better-than-expected quarterly profit, raised its outlook for operating margin and announced a $600 million (465.8 million pounds) share buyback, sending its shares up 11% in trading after the bell.

The company raised its operating margin target between 28% and 30%, which it expects to achieve by 2024, up from its initial range of 20% to 22%.

"The big story is the $600 million buyback, which is a clear indication that Dropbox views their stock as undervalued and that management is bullish on the future of the company," said Rishi Jaluria, an analyst from brokerage D.A. Davidson & Co.

He added that the move was "pretty unusual" given that the company went public less than two years ago.

The company, which counts National Geographic and Spotify Technology SA among its customers, said it had 14.3 million paid subscribers at the end of the fourth quarter.

Analysts had expected 14.2 million subscribers, according to research firm FactSet.

Dropbox has been trying to attract customers through tools that allow users to create and share documents across platforms, including Google Docs and Microsoft Office.

The company has also benefited from its "freemium" model, where consumers can use its basic services for free but have to pay for additional services.

Excluding items, it earned 16 cents per share, above expectations of 14 cents per share.

Average revenue per user rose to $125 from $119.6 a year earlier, while analysts had estimated $124.8 for the quarter ended Dec. 31.

Revenue rose 18.6% to $446 million, edging past the average analyst estimate of $443.3 million, according to IBES data from Refinitiv.

(Reporting by Neha Malara in Bengaluru; Editing by Shailesh Kuber)

Stocks mentioned in the article
ChangeLast1st jan.
ALPHABET INC. 8.28% 1183.19 Delayed Quote.-18.42%
DROPBOX, INC. 0.56% 18.06 Delayed Quote.0.28%
MICROSOFT CORPORATION 7.48% 165.33 Delayed Quote.-2.41%
SPOTIFY TECHNOLOGY S.A. 0.33% 122.52 Delayed Quote.-18.34%
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Financials (USD)
Sales 2020 1 881 M
EBIT 2020 319 M
Net income 2020 -11,7 M
Finance 2020 1 111 M
Yield 2020 -
P/E ratio 2020 -651x
P/E ratio 2021 222x
EV / Sales2020 3,47x
EV / Sales2021 2,96x
Capitalization 7 636 M
Chart DROPBOX, INC.
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Technical analysis trends DROPBOX, INC.
Short TermMid-TermLong Term
TrendsNeutralBearishNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 15
Average target price 26,54  $
Last Close Price 18,23  $
Spread / Highest target 103%
Spread / Average Target 45,6%
Spread / Lowest Target -28,7%
EPS Revisions
Managers
NameTitle
Andrew W. Houston Chairman, President & Chief Executive Officer
Olivia Nottebohm Chief Operating Officer
Ajay V. Vashee Chief Financial Officer
Bharat Mediratta Chief Technology Officer & Senior VP-Platform
Condoleezza Rice Lead Independent Non-Executive Director
Sector and Competitors
1st jan.Capitalization (M$)
DROPBOX, INC.0.28%7 581