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Dropbox (DBX) Stock Moves -0.72%: What You Should Know
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The latest trading session saw Dropbox (DBX - Free Report) ending at $23.49, denoting a -0.72% adjustment from its last day's close. The stock outperformed the S&P 500, which registered a daily loss of 2.32%. On the other hand, the Dow registered a loss of 1.25%, and the technology-centric Nasdaq decreased by 3.64%.
Heading into today, shares of the online file-sharing company had gained 7.84% over the past month, outpacing the Computer and Technology sector's gain of 0.49% and the S&P 500's gain of 1.79% in that time.
The investment community will be closely monitoring the performance of Dropbox in its forthcoming earnings report. The company is scheduled to release its earnings on August 8, 2024. The company is predicted to post an EPS of $0.52, indicating a 1.96% growth compared to the equivalent quarter last year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $629.65 million, up 1.15% from the year-ago period.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $2.12 per share and revenue of $2.54 billion. These totals would mark changes of +7.07% and +1.66%, respectively, from last year.
Investors might also notice recent changes to analyst estimates for Dropbox. These revisions typically reflect the latest short-term business trends, which can change frequently. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. 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, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. Right now, Dropbox possesses a Zacks Rank of #3 (Hold).
With respect to valuation, Dropbox is currently being traded at a Forward P/E ratio of 11.16. This denotes a discount relative to the industry's average Forward P/E of 23.85.
We can also see that DBX currently has a PEG ratio of 0.98. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. As the market closed yesterday, the Internet - Services industry was having an average PEG ratio of 2.27.
The Internet - Services industry is part of the Computer and Technology sector. This industry, currently bearing a Zacks Industry Rank of 167, finds itself in the bottom 34% echelons 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.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
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Dropbox (DBX) Stock Moves -0.72%: What You Should Know
The latest trading session saw Dropbox (DBX - Free Report) ending at $23.49, denoting a -0.72% adjustment from its last day's close. The stock outperformed the S&P 500, which registered a daily loss of 2.32%. On the other hand, the Dow registered a loss of 1.25%, and the technology-centric Nasdaq decreased by 3.64%.
Heading into today, shares of the online file-sharing company had gained 7.84% over the past month, outpacing the Computer and Technology sector's gain of 0.49% and the S&P 500's gain of 1.79% in that time.
The investment community will be closely monitoring the performance of Dropbox in its forthcoming earnings report. The company is scheduled to release its earnings on August 8, 2024. The company is predicted to post an EPS of $0.52, indicating a 1.96% growth compared to the equivalent quarter last year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $629.65 million, up 1.15% from the year-ago period.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $2.12 per share and revenue of $2.54 billion. These totals would mark changes of +7.07% and +1.66%, respectively, from last year.
Investors might also notice recent changes to analyst estimates for Dropbox. These revisions typically reflect the latest short-term business trends, which can change frequently. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. 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, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. Right now, Dropbox possesses a Zacks Rank of #3 (Hold).
With respect to valuation, Dropbox is currently being traded at a Forward P/E ratio of 11.16. This denotes a discount relative to the industry's average Forward P/E of 23.85.
We can also see that DBX currently has a PEG ratio of 0.98. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. As the market closed yesterday, the Internet - Services industry was having an average PEG ratio of 2.27.
The Internet - Services industry is part of the Computer and Technology sector. This industry, currently bearing a Zacks Industry Rank of 167, finds itself in the bottom 34% echelons 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.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.