RBC Capital raised the firm’s price target on Dropbox (DBX) to $38 from $35 and keeps an Outperform rating on the shares. The company reported decent Q3 results with revenue, billings, and operating margin exceeding Street estimates, while annual recurring revenue came in about 0.4% below, the analyst tells investors in a research note.
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Read More on DBX:
- Dropbox: Balancing Strong Execution with Growth Challenges Amid Competitive Pressures
- Dropbox’s Hold Rating: Balancing Solid Financials with Strategic Uncertainties
- Dropbox’s Growth Concerns and Flat Outlook Justify Hold Rating Despite Strong Q3 Performance
- Dropbox Reports Strong Margins Amid Revenue Dip
- Dropbox cuts FY25 CapEx view to $20M-$25M from $25M-$30M