Dropbox (DBX) Coverage Initiated by Analysts at Macquarie

Macquarie initiated coverage on shares of Dropbox (NASDAQ:DBX) in a research note published on Tuesday morning, MarketBeat.com reports. The firm issued an outperform rating and a $34.00 target price on the stock.

A number of other brokerages also recently issued reports on DBX. DA Davidson dropped coverage on shares of Dropbox in a research note on Monday, April 16th. They set a $22.00 price objective on the stock. Nomura initiated coverage on shares of Dropbox in a research note on Thursday, April 12th. They issued a reduce rating and a $21.00 price target on the stock. Jefferies Group initiated coverage on shares of Dropbox in a research note on Tuesday. They issued a hold rating and a $31.00 price target on the stock. Finally, Goldman Sachs initiated coverage on shares of Dropbox in a research note on Tuesday. They issued a neutral rating and a $27.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and eight have assigned a buy rating to the stock. The stock presently has an average rating of Buy and an average price target of $33.15.

Shares of Dropbox stock opened at $28.92 on Tuesday. Dropbox has a 12-month low of $27.75 and a 12-month high of $34.83.

In related news, insider Arash Ferdowsi sold 2,333,333 shares of the firm’s stock in a transaction that occurred on Tuesday, March 27th. The shares were sold at an average price of $20.07, for a total value of $46,829,993.31. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

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Dropbox Company Profile

Dropbox Inc provides a collaboration platform worldwide. Its platform allows individuals, teams, and organizations to create, access, and share content online. The company was formerly known as Evenflow, Inc and changed its name to Dropbox, Inc in October 2009. Dropbox Inc was founded in 2007 and is headquartered in San Francisco, California.

Analyst Recommendations for Dropbox (NASDAQ:DBX)

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