Fintel reports that on September 18, 2023, Citigroup maintained coverage of Dropbox Inc - (NASDAQ:DBX) with a Neutral recommendation.
Analyst Price Forecast Suggests 11.24% Upside
As of August 31, 2023, the average one-year price target for Dropbox Inc - is 29.98. The forecasts range from a low of 22.22 to a high of $36.75. The average price target represents an increase of 11.24% from its latest reported closing price of 26.95.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Dropbox Inc - is 2,481MM, an increase of 2.38%. The projected annual non-GAAP EPS is 1.76.
What is the Fund Sentiment?
There are 931 funds or institutions reporting positions in Dropbox Inc -. This is an increase of 51 owner(s) or 5.80% in the last quarter. Average portfolio weight of all funds dedicated to DBX is 0.23%, a decrease of 21.79%. Total shares owned by institutions increased in the last three months by 7.65% to 279,620K shares. 
The put/call ratio of DBX is 0.73, indicating a bullish outlook.
What are Other Shareholders Doing?
Ameriprise Financial holds 20,808K shares representing 5.98% ownership of the company. In it's prior filing, the firm reported owning 17,067K shares, representing an increase of 17.98%. The firm increased its portfolio allocation in DBX by 43.78% over the last quarter.
SLMCX - Columbia Seligman Communications and Information Fund holds 10,994K shares representing 3.16% ownership of the company. In it's prior filing, the firm reported owning 9,210K shares, representing an increase of 16.23%. The firm increased its portfolio allocation in DBX by 22.12% over the last quarter.
Renaissance Technologies holds 9,298K shares representing 2.67% ownership of the company. In it's prior filing, the firm reported owning 8,646K shares, representing an increase of 7.01%. The firm increased its portfolio allocation in DBX by 44.07% over the last quarter.
IJH - iShares Core S&P Mid-Cap ETF holds 8,259K shares representing 2.37% ownership of the company.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 7,904K shares representing 2.27% ownership of the company. In it's prior filing, the firm reported owning 8,089K shares, representing a decrease of 2.33%. The firm increased its portfolio allocation in DBX by 11.22% over the last quarter.
Dropbox Background Information
(This description is provided by the company.)
Dropbox is one place to keep life organized and keep work moving. With more than 700 million registered users across 180 countries, the Company is on a mission to design a more enlightened way of working. Dropbox is headquartered in San Francisco, CA.
Fintel is one of the most comprehensive investing research platforms available to individual investors, traders, financial advisors, and small hedge funds.
Our data covers the world, and includes fundamentals, analyst reports, ownership data and fund sentiment, options sentiment, insider trading, options flow, unusual options trades, and much more. Additionally, our exclusive stock picks are powered by advanced, backtested quantitative models for improved profits.
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
