Why Shares of Dropbox Plunged 23.1% After Earnings
Shares of cloud storage company (NASDAQ: DBX) fell as much as 23.1% on Friday after the company reported earnings results. Shares were hitting their low around 3 p.m. ET. Results weren't all that bad for the fourth quarter, but investors are focused on guidance and analyst reactions today.
Dropbox reported a 6% increase in revenue to $635 million and net income of $227.3 million, or $0.66 per share. Non-GAAP (adjusted) earnings per share were $0.50.
This topped analyst estimates of $632 million in revenue and $0.48 in earnings per share.
Source Fool.com
Dropbox Inc Stock
€29.15
-1.270%
Currently there is a rather positive sentiment for Dropbox Inc with 6 Buy predictions and 3 Sell predictions.
However, we have a potential of -7.36% for Dropbox Inc as the target price of 27 € is below the current price of 29.15 €.
