|Bid||23.64 x 1100|
|Ask||23.99 x 900|
|Day's Range||22.72 - 23.80|
|52 Week Range||18.50 - 43.50|
|Beta (3Y Monthly)||N/A|
|PE Ratio (TTM)||N/A|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||34.00|
Backed by A-list investors like Jeff Bezos and Bill Gates, Convoy is using technology to connect truck drivers with companies that have shipping needs. Yahoo Finance’s Alexis Christoforous speaks to Convoy CEO Dan Lewis.
Kilroy paid more than $1,300 per square foot — the highest price ever for a large San Francisco office building.
Exits from the region last quarter were valued at about $56 billion, a total topped just twice this century — in 2014 when the total was nearly $69 billion and 2012 when it was nearly $94 billion.
The cloud storage provider has delivered robust growth on the top line, but it hasn't been quite enough to justify the stock's high valuation.
It's not necessarily a surprise that Dropbox (NASDAQ:DBX) stock has fallen. Dropbox stock is an obvious candidate to be sold amid a tech selloff And, indeed, DBX stock is about 50% below its June highs and touched a post-IPO low in December. But like a number of growth stocks that have sold off, DBX stock still doesn't look cheap. Backing out a little over $1 billion in cash and investments, DBX trades at over five times analysts' average 2018 revenue estimate and about 40 times next year's consensus earnings-per-share estimate. Dropbox stock, however, is one of the more intriguing "buy the dip" candidates in high-growth tech. The company's cloud exposure makes its outlook compelling. Dropbox's revenue growth remains strong; its sales should rise about 25% this year, and analysts expect the company's top line to increase 16% next year. And Dropbox is profitable already and has solid free cash flow. InvestorPlace - Stock Market News, Stock Advice & Trading Tips * 10 Oversold Stocks Due for a Bounce DBX stock, however, is facing one big risk. And that risk will determine whether Dropbox stock looks cheap or should be cheap. ### The Case for Buying Dropbox Stock The bull case on Dropbox stock is that it's a classic software-as-a-service (SaaS) growth story, the kind investors loved until just a couple of months ago. The number of users and the revenue per user on the company's cloud platform are growing. In the third quarter, the platform's paying users rose 18% year-over-year, and its average revenue per user(ARPU) increased nearly 6%. Those users are "sticky" (they are unlikely to give up the platform) because of the sensitive and/or personal nature of much of the content that has been uploaded to the Dropbox platform. As a result, the company's users tend to stay engaged and keep providing it with recurring monthly revenue. With a base of 500 million registered users, most of whom use the free version of the site, Dropbox has a huge pool of additional, potential, paid users who could enable its growth to continue for years to come. And the company's efforts to add new services to the platform provide another catalyst. Dropbox Paper allows users to create collaborative documents. Dropbox Showcase is an improved way to share files and presentations. Both offerings should generate meaningful revenue going forward. Meanwhile, DBX stock isn't cheap on an earnings basis. But the SaaS model generates huge margin gains, which means the company's earnings growth should nicely outpace its top-line increases. As a result, Dropbox stock can quickly grow into its valuation. Indeed, analysts' average price target, which is above $34, suggests that Dropbox stock can surge about 60%. ### The Competitive Risk to Dropbox Stock But Dropbox stock is facing one clear risk: competition. In many ways, Dropbox pioneered cloud-sharing, but it's no longer alone in the space. Alphabet (NASDAQ:GOOG,GOOGL) offers Google Drive. Microsoft (NASDAQ:MSFT) has a massive installed base of consumer and commercial Office 365 users to whom it can market its OneDrive. Amazon.com (NASDAQ:AMZN) can leverage Amazon Web Services to try to capture users as well. Dropbox has carved out an impressive niche. But it will have to fend off the giants of tech to simply keep that niche intact. On this site in May, Will Healy argued that Dropbox looks like America Online (now owned by Verizon Communications (NYSE:VZ)). AOL was first to market, too, but it was quickly displaced by competitors that emerged. The obvious risk facing DBX is that Google and Microsoft, in particular, can take over Dropbox's niche. Dropbox is generating over $1 billion in revenue, but that's a pittance compared to the top lines of its larger rivals. And even if Dropbox can hold its market share, it may have to lower its prices to do so. Price cuts would lower the company's revenue growth and limit its margin expansion, likely causing its earnings growth to decelerate. ### Can DBX Be Acquired? An investor looking to buy the dip of DBX stock has to have confidence in the company's competitive position. And if DBX is able to hold its own against that competition, the fact that Dropbox is competing against giants may turn out to be a good thing for DBX stock. After all, a strong Dropbox would be a logical acquisition target, whether for rivals looking to add to their market share or new entrants to the market. Dropbox stock spiked in June, a move that appeared driven by rumors of its acquisition by Salesforce.com (NYSE:CRM). Apple (NASDAQ:AAPL) has been rumored to be interested in Dropbox as well. A near-term deal probably is unlikely; even a 50% premium would value DBX at basically the same levels for which it traded as recently as August. But if the company reports strong growth in coming quarters, Dropbox stock could become a takeover target again. Even speculation about a deal could send DBX stock higher. All told, DBX stock is intriguing, but its performance will be determined by Dropbox's competitive strength. With no sign of weakness so far, and DBX stock near its lows, betting on that strength looks like a winning proposition. As of this writing, Vince Martin has no positions in any securities mentioned. ### More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 7 Downtrodden Stocks to Fish From the Bottom * 8 Cheap Value Stocks That Just Got More Enticing * 5 Apple Suppliers Hurt by the Guidance Cut Compare Brokers The post Dropbox Stock Has a Path to a Rally appeared first on InvestorPlace.
Enterprise cloud provider Box (NYSE:BOX) was on the move on Wednesday. The BOX stock price rose nearly 9% as speculation increased that Box could be a takeover target. Box is often compared to fellow cloud play Dropbox (NASDAQ:DBX).
If you’ve been interested in Twilio (NYSE:TWLO), this might be your chance to buy some Twilio stock. Twilio is a great example. Granted, the strong relative performance of Twilio stock is no guarantee.
Most stocks from last year's class of Bay Area IPO companies ended the year in positive territory, with 23 of them closing 2018 above their IPO offering prices. Here's a look at all of them, as Wall Street volatility threatens the planned 2019 IPOs of a number of the most closely watched startups.
Four times as many new unicorns from the Bay Area got to their first $1 billion valuations this year than the number that exited through an IPO or sale. Here's a look at all 32 of them.
Our extensive research has shown that imitating the smart money can generate significant returns for retail investors, which is why we track more than 700 prominent money managers and analyze their quarterly 13F filings. The stocks that are heavily bought by hedge funds historically outperformed the market, though there is no shortage of high profile […]
Small-caps and large-caps are wildly popular among investors; however, mid-cap stocks, such as Dropbox, Inc. (NASDAQ:DBX) with a market-capitalization of US$7.9b, rarely draw their attention. Despite this, commonly overlooked mid-caps Read More...
This weekend's Barron's cover story takes a look tech's next act. Other featured articles reveal how 2018 IPOs fared and look at further headwinds for tech stocks. Also, how to find bargains in European ...
European equity raising slowed sharply in 2018, making it the biggest drag on falling global activity, Refinitiv data showed on Friday, as political uncertainty and growth concerns made it harder to persuade investors to buy stock. Global equity capital markets' (ECM) proceeds fell to $688 billion in 2018 from $781 billion in the same period of 2017 according to data as of Dec. 17. "Political uncertainty across Europe has not helped, but the real surprise was the slowdown in European macroeconomic growth," said Craig Coben, vice-chairman of global capital markets at Bank of America Merrill Lynch.
Facebook investors punished the stock Wednesday after a New York Times investigative report showed the social network had allowed more than 100 partners special access to user data.
Tech IPOs of companies valued at more than $1 billion are seeing something of a mini-boom. Called "unicorns," these initial public offerings have soared to 38 this year, the largest volume since the height dotcom bubble in 2000. This number is likely to soar even higher in 2019 even amid warning signs of a more bearish market, according to IPO market watchers, per the Wall Street Journal.
As few as 125 firms could file for initial public offerings in 2019, compared to 190 so far in 2018, manager of IPO-focused exchange-traded funds Renaissance Capital said, adding that the figure could rise to 200 if U.S. stocks resume their climb. Overall, total proceeds from IPOs in 2019 could be as much as $60 billion, up from $47 billion in 2018, according to the annual report from Renaissance Capital. "Issuance and returns were very strong until the fourth quarter (of 2018), when a global selloff caused the average IPO return to sink to a measly 5 percent," Matthew Kennedy, senior IPO market strategist at Renaissance Capital, said.
The excitement of proposed initial public offerings by ride-hailing rivals Uber and Lyft next year may not be enough to encourage other firms to follow suit, as they fear that slowing global growth and rocky stock markets dragging into next year could threaten market debut valuations. As few as 125 firms could file for initial public offerings in 2019, compared to 190 so far in 2018, manager of IPO-focused exchange-traded funds Renaissance Capital said, adding that the figure could rise to 200 if U.S. stocks resume their climb. Overall, total proceeds from IPOs in 2019 could be as much as $60 billion, up from $47 billion in 2018, according to the annual report from Renaissance Capital.
Two former Amazon employees are trying to transform the $700 billion trucking industry with a trucking app called Convoy, which leverages data.
Yahoo Finance's LIVE market coverage and analysis of what you need to watch in the stock market begins each day at 9:00 a.m. ET.
Ride-hailing company Lyft Inc beat bigger rival Uber Technologies Inc in filing for an initial public offering (IPO) on Thursday, defying the recent market jitters and taking the lead on a string of billion-dollar-plus tech companies expected to join Wall Street next year. Lyft's IPO will test investors' appetite for the most highly valued Silicon Valley companies and for the ride-hailing business, which has become a wildly popular service but remains unprofitable and has an uncertain future with the advance of self-driving cars. San Francisco-based Lyft, last valued at about $15 billion in a private fundraising round, did not specify the number of shares it was selling or the price range in a confidential filing with the U.S. Securities and Exchange Commission (SEC).
A little over 10 years ago, Dropbox (NASDAQ:DBX) began to unwind that erroneous assumption. Three charts should at least start to correct that problem, likely leading investors to wonder why in the world Dropbox stock has been steadily selling off from June’s peak after going public in March. Somehow, though, a dedicated file-sharing platform like Box (NYSE:BOX) or Dropbox seems far better equipped to handle the task.
On November 28 after markets closed, cloud content management company Box (BOX) announced its results for the third quarter of fiscal 2019 (the three months ended October 31, 2018). Microsoft (MSFT) and Alphabet (GOOGL) have lost 2.8% and 9.6%, respectively, quarter-to-date.