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Dropbox (DBX) Advances While Market Declines: Some Information for Investors
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In the latest trading session, Dropbox (DBX - Free Report) closed at $28.70, marking a +1.34% move from the previous day. The stock outperformed the S&P 500, which registered a daily loss of 0.22%. Meanwhile, the Dow experienced a rise of 0.08%, and the technology-dominated Nasdaq saw a decrease of 0.51%.
Heading into today, shares of the online file-sharing company had lost 1.46% over the past month, lagging the Computer and Technology sector's gain of 2.98% and the S&P 500's gain of 0.45%.
The investment community will be closely monitoring the performance of Dropbox in its forthcoming earnings report. The company is forecasted to report an EPS of $0.63, showcasing a 5% upward movement from the corresponding quarter of the prior year. Meanwhile, the latest consensus estimate predicts the revenue to be $617.77 million, indicating a 2.64% decrease compared to the same quarter of the previous year.
For the full year, the Zacks Consensus Estimates project earnings of $2.61 per share and a revenue of $2.48 billion, demonstrating changes of +4.82% and -2.57%, respectively, from the preceding year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Dropbox. These recent revisions tend to reflect the evolving nature of short-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the business performance and profit potential.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Dropbox is currently a Zacks Rank #3 (Hold).
Looking at valuation, Dropbox is presently trading at a Forward P/E ratio of 10.84. Its industry sports an average Forward P/E of 18.29, so one might conclude that Dropbox is trading at a discount comparatively.
The Internet - Services industry is part of the Computer and Technology sector. Currently, this industry holds a Zacks Industry Rank of 144, positioning it in the bottom 42% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Dropbox (DBX) Advances While Market Declines: Some Information for Investors
In the latest trading session, Dropbox (DBX - Free Report) closed at $28.70, marking a +1.34% move from the previous day. The stock outperformed the S&P 500, which registered a daily loss of 0.22%. Meanwhile, the Dow experienced a rise of 0.08%, and the technology-dominated Nasdaq saw a decrease of 0.51%.
Heading into today, shares of the online file-sharing company had lost 1.46% over the past month, lagging the Computer and Technology sector's gain of 2.98% and the S&P 500's gain of 0.45%.
The investment community will be closely monitoring the performance of Dropbox in its forthcoming earnings report. The company is forecasted to report an EPS of $0.63, showcasing a 5% upward movement from the corresponding quarter of the prior year. Meanwhile, the latest consensus estimate predicts the revenue to be $617.77 million, indicating a 2.64% decrease compared to the same quarter of the previous year.
For the full year, the Zacks Consensus Estimates project earnings of $2.61 per share and a revenue of $2.48 billion, demonstrating changes of +4.82% and -2.57%, respectively, from the preceding year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Dropbox. These recent revisions tend to reflect the evolving nature of short-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the business performance and profit potential.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Dropbox is currently a Zacks Rank #3 (Hold).
Looking at valuation, Dropbox is presently trading at a Forward P/E ratio of 10.84. Its industry sports an average Forward P/E of 18.29, so one might conclude that Dropbox is trading at a discount comparatively.
The Internet - Services industry is part of the Computer and Technology sector. Currently, this industry holds a Zacks Industry Rank of 144, positioning it in the bottom 42% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.