27.80 -0.47 (-1.66%)
After hours: 7:20PM EDT
|Bid||27.90 x 1100|
|Ask||28.10 x 1400|
|Day's Range||27.18 - 28.34|
|52 Week Range||26.61 - 43.50|
|PE Ratio (TTM)||N/A|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||35.23|
U.S. startup incubator Y Combinator said it is establishing a China unit, its first dedicated overseas office, which will be headed by Baidu Inc's former chief operating officer Qi Lu. "China has been an important missing piece of our puzzle -the entrepreneurial energy and talent there is an amazing force. Qi will be able to take what makes YC work and adapt it for China," Sam Altman, president of YC Group said in a blog post.
has largely flown under the radar amid a selloff due to uncertainty following the departure of company COO Dennis Woodside. The cloud storage leader announced during its August 9 earnings presentation that it has completed implementation of its "Magic Pocket" system, a new cloud infrastructure that helps to reduce the amount of real estate the backbone of its storage capabilities utilizes. CEO Drew Houston explained the new tool and its use of SMR technology at length in the call.
While the sustained upward trend is encouraging, the growth registered below analyst expectations, leaving some concerned about sustaining growth momentum. Karl Keirstead, analyst at Deutsche Bank, flagged his concerns in a note on August 10. The rate represents a contrast from the growth experienced in 2015 and 2016, wherein Dropbox added 2.3 million paid accounts.
Stocks were heavily lower amid geopolitical tensions centered on Turkey. IBD 50 stock Planet Fitness is breaking out past a rare entry.
Dow Jones futures fell on Turkey contagion fears and Intel. Tesla rose and fell on a report that its board will meet bankers next week. IBD 50 stocks Trade Desk and Planet Fitness soared on earnings. Recent IPO Dropbox plunged on weak sales.
Dropbox Inc (NASDAQ: DBX) shares moved lower in reaction to second-quarter results that came in better-than-expected but were accompanied by an announcement of Chief Operating Officer Dennis Woodside's departure. Should investors take advantage of the dip? Macquarie Capital Markets' Sarah Hindlian maintained an Outperform on Dropbox's stock with a price target lifted from $36 to $38. Canaccord Genuity's Richard Davis maintained a Buy with a price target lifted from $36 to $38.
Analysts say that Friday's share price decline in Dropbox Inc. -- which plunged more than 9% in afternoon trading in part on concerns over the departure of Chief Operating Officer Dennis Woodside -- is only temporary. "This is like putting a beach ball underwater," says Canaccord Genuity analyst Richard Davis.
will have to deal with some of the largest tech companies in the world as it ascends to be one of the largest cloud computing companies int the world, a cause for more long-term concern than the recent executive departure. In the second quarter, Dropbox had 11.9 million paying users, a 16% increase from a year before. As the company continues to grow its paying user base and expand a number of products features, it will be increasingly pitted against bigger competitors for market share.
Dropbox Inc. reported better-than-expected quarterly earnings and revenue Thursday, as the cloud-storage company grew its paying customer base and earned more from each user than Wall Street projected.
Despite better-than-expected earnings results, Dropbox Inc. ( DBX) shares were down 7.3% early in Friday's session after the company announced that its chief operating officer is leaving. COO Dennis Woodside, who played a key role in the company’s initial public offering earlier this year, is stepping down next month, although he will remain on as an advisor through the end of the year. Woodside has been with Dropbox for four years.
Dropbox, Inc. is a file hosting service company based in San Francisco, California. The company specializes in cloud-based storage, synchronization, and personal cloud and client software. Along with the valuation and IPO pricing, Dropbox also announced a $100 million pre-IPO private placement to Salesforce Ventures ( CRM), reported CNBC.
Last night, Dropbox (NASDAQ:DBX) reported earnings and there was after-hour jubilation but it died quickly. DBX stock is down 7.5% in early morning trading. Luckily for the bulls, coming into the earnings event, DBX stock rallied 30% in the past seven days.
As Dropbox Inc. explained its Q2 earnings on Thursday, CEO Drew Houston dropped a bombshell: Dennis Woodside is stepping down from his role as chief operating officer. “It's hard to overstate Dennis's impact on Dropbox,” said Houston, according to a earnings call transcript, noting that when Woodside started back in 2014, the company only had $200 million in revenue. “And during his time here, we've grown into a publicly traded company with over $1 billion in annual revenue and a dozen offices around the world,” Houston added.
was down sharply in pre-market trading, apparently on the COO stepping down and an expiration of the post-IPO lock-up on insiders selling shares. In this limited daily bar chart of DBX, below, we can see that prices were largely stable between $28 and $34 with some brief moves outside that range. Prices briefly probed the downside at the end of July but then came back to the trading range and the 50-day moving average line this month.
The cloud storage company's second-quarter results were solid all around, fueled by growth in paying users and average revenue per paying user.
Dropbox reported upside across the board, with 27-percent year-over-year growth, operating margins of 14.1 percent and an adjusted free cash flow margin of 25.1 percent on the product front, Davis said in a Friday note. The retirement of COO Dennis Woodside could impact the stock, Davis said, although he termed any move on the news as an overreaction.
is trading down some 8% in premarket trading after a mixed earnings report -- good quarterly results, but word that the chief operating offer is leaving. Starting with the good, the digital file storage company reported that it had 11.9 million paid subscribers at the end of June, a 20% increase over the previous year and higher than the 11.73 million Wall Street was expecting. The company also announced that Chief Operating Officer Dennis Woodside is leaving the company after playing a critical role in the company's initial public offering in March.