JPMorgan downgraded Dropbox to Neutral from Overweight with a price target of $30, down from $33, following the Q4 report. The analyst believes risk/reward is now more balanced with the shares up 72% in the past 11 months. The firm sees a lack of generative artificial intelligence-linked growth drivers for now. In addition, Dropbox has an apparent inability to execute a price increase given the emergence of “price sensitivity” among customers, the analyst tells investors in a research note.
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