Why Dropbox Stock (DBX) Is Dropping Today

DBX stock fell more than 0.6% on Friday

Dropbox stock (NYSE:DBX) was sliding late in the day Friday as the company received an update from analysts regarding what they expect the company’s earnings to look like during its next quarterly call.

DropboxMultiple Wall Street analysts unveiled their outlook for the Silicon Valley-based file-sharing business, noting that they project its earnings to be 6 cents per share for its current quarter. This is the average estimate based on what seven analysts polled by Zacks Investment Research are calling for, with the highest earnings estimate at 7 cents per share and the lowest one at 5 cents per share.

Dropbox stock saw some activity following the announcements as the company is expected to unveil its earnings results for the current quarter on Thursday, November 8. On average, analysts see the company as bringing in earnings of 31 cents per share for its fiscal 2018, with full-year earnings guidances sitting between 29 and 33 cents per share.

For the following year, Wall Street analysts see the company’s earnings as being at around 40 cents per share on average, with earnings estimates ranging from 35  to 45 cents per share. Dropbox last reported its quarterly earnings on August 9, when it brought in 11 cents per share, beating the Thomson Reuters forecast of 6 cents per share.

DBX stock fell about 0.6% on Friday following the price target updates from analysts.

Article printed from InvestorPlace Media, https://investorplace.com/2018/10/dropbox-stock-dbx/.

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