Categories AlphaGraphs, Analysis, Earnings, Technology
Partnerships likely to drive Dropbox higher post Q2
Dropbox (NASDAQ: DBX) will report second-quarter 2019 financial results after the regular trading hours on Thursday, August 8. When it last reported results, the file hosting service provider exceeded earnings estimate as solid user growth pushed up revenues. The stronger-than-expected results had spurred a stock rally.
EARNINGS OUT: Dropbox beats Q2 earnings estimate, revenues in line
When the company reports the second-quarter results, analysts expect an 18% jump in revenues to $400.9 million, as the company continues to expand its user base.
However, the bottom-line is projected to shrink to 8 cents per share from 11 cents per share in the year-ago period due to the continuous flow of investments into technologies such as artificial intelligence, aimed at improving the service.
The San Francisco, California-based firm has also been rampantly forging partnerships and making acquisitions to enhance its products and also to win new customers.
READ: Microsoft acquires advertising startup PromoteIQ for undisclosed amount
The recent acquisition of HelloSign is expected to give a boost to Dropbox in the electronic signature market. The strategic partnerships with Salesforce (NYSE: CRM), Microsoft (NASDAQ: MSFT), Atlassian (NASDAQ: TEAM) and Adobe (NASDAQ: ADBE) are also simplifying workflow and improving customer experience. Happy customers mean better retention rates.
Shares of Dropbox, which went public last year, have been mostly trading sidewise this year. Currently, the stock is up about 5%.
The stock has a 12-month average price target of $33.50, which is at a 55% upside from Tuesday’s trading price. DBX has a Strong Buy rating in the market.
Most Popular
CVX Earnings: Chevron reports lower revenue and profit for Q3 2024
Energy exploration company Chevron Corporation (NYSE: CVX) on Friday announced third-quarter 2024 financial results, reporting a decline in net profit and revenues. Net income attributable to Chevron Corporation dropped to
Key highlights from Exxon Mobil Corporation’s (XOM) Q3 2024 earnings results
Exxon Mobil Corporation (NYSE: XOM) reported its third quarter 2024 earnings results today. Total revenues and other income remained relatively flat at $90 billion compared to the same period a
AAPL Earnings: Apple Q4 2024 sales rise 6% YoY, beat estimates
Apple Inc. (NASDAQ: AAPL) reported an increase in revenues for the fourth quarter of 2024. The top line came in above estimates. The gadget giant generated revenues of $94.9 billion
Comments
Comments are closed.