Fintel reports that on February 16, 2024, Goldman Sachs downgraded their outlook for Dropbox (NasdaqGS:DBX) from Neutral to Sell .

Analyst Price Forecast Suggests 1.43% Downside

As of January 19, 2024, the average one-year price target for Dropbox is 32.07. The forecasts range from a low of 26.26 to a high of $37.80. The average price target represents a decrease of 1.43% from its latest reported closing price of 32.54.

See our leaderboard of companies with the largest price target upside.

The projected annual revenue for Dropbox is 2,641MM, an increase of 5.57%. The projected annual non-GAAP EPS is 1.99.

What is the Fund Sentiment?

There are 1013 funds or institutions reporting positions in Dropbox. This is an increase of 15 owner(s) or 1.50% in the last quarter. Average portfolio weight of all funds dedicated to DBX is 0.23%, a decrease of 0.33%. Total shares owned by institutions increased in the last three months by 2.18% to 276,708K shares. The put/call ratio of DBX is 1.03, indicating a bearish outlook.

What are Other Shareholders Doing?

Ameriprise Financial holds 19,145K shares representing 5.54% ownership of the company. In it's prior filing, the firm reported owning 20,064K shares, representing a decrease of 4.80%. The firm decreased its portfolio allocation in DBX by 82.88% over the last quarter.

SLMCX - Columbia Seligman Communications and Information Fund holds 10,750K shares representing 3.11% ownership of the company. In it's prior filing, the firm reported owning 10,746K shares, representing an increase of 0.04%. The firm decreased its portfolio allocation in DBX by 1.66% over the last quarter.

Renaissance Technologies holds 10,151K shares representing 2.94% ownership of the company. In it's prior filing, the firm reported owning 9,551K shares, representing an increase of 5.92%. The firm increased its portfolio allocation in DBX by 4.47% over the last quarter.

IJH - iShares Core S&P Mid-Cap ETF holds 8,059K shares representing 2.33% ownership of the company. In it's prior filing, the firm reported owning 8,259K shares, representing a decrease of 2.48%. The firm decreased its portfolio allocation in DBX by 2.36% over the last quarter.

VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 7,910K shares representing 2.29% ownership of the company. In it's prior filing, the firm reported owning 7,904K shares, representing an increase of 0.07%. The firm increased its portfolio allocation in DBX by 6.05% 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.