1 Steadily Growing Cloud Stock Investors Shouldn't Overlook
When most people hear the name (NASDAQ: DBX), they probably remember a tech darling of yesteryear that was swept away by competitors like Microsoft, Alphabet, and Apple. And they wouldn't be entirely wrong either, as Dropbox's current market cap of $9 billion still sits below the $10 billion private market valuation it received in 2014.
But these numbers don't tell the whole story. In fact, since its IPO a little over five years ago, Dropbox has quietly grown its users, revenues, and profits every single year. Let's take a look at why Dropbox is consistently able to grow despite daunting competition from the world's largest tech giants.
When Dropbox first went public in Feb. 2018, the company boasted a paying subscriber base of 11 million people. Fast forward five years, and Dropbox is now nearing 18 million paying subscribers for just over a 10% compound annual growth rate. While that might not be the kind of astounding user adoption that many tech investors are accustomed to today, the growth has been remarkably consistent. Dropbox has now gradually increased its paying subscriber base for 25 straight quarters in a row.
Source Fool.com
Dropbox Inc Stock
Currently there is a rather positive sentiment for Dropbox Inc with 7 Buy predictions and 3 Sell predictions.
As a result the target price of 28 € shows a positive potential of 28.62% compared to the current price of 21.77 € for Dropbox Inc.
