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Dropbox Inc Class A DBX Stock Quote

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Morningstar‘s Stock Analysis DBX

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Dropbox Posts a Strong Quarter Amid Macroeconomic Uncertainty; Maintain Our $26 FVE

Analyst Note

| Malik Ahmed Khan |

We are maintaining our $26 fair value estimate for no-moat Dropbox as the firm closed out its third quarter with results largely in line with our expectations. Despite macroeconomic headwinds, primarily in the shape of a strengthening U.S. dollar, Dropbox continued to see top-line strength. Overall, we are pleased with Dropbox's transition from the commoditized cloud storage segment into the more holistic content collaboration platform segment. With a broader set of offerings and collaboration tools, we remain optimistic about the firm's average revenue per user and user additions. With shares trading flat afterhours, we view Dropbox as moderately undervalued.

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Key Statistics DBX

Company Profile DBX

Business Description

Dropbox is a leading provider of cloud-storage and content collaboration tools with an emphasis on individuals and SMB. The company was founded in 2007 and was a pioneer in cloud storage and cross-platform file syncing. Utilizing inorganic and organic means, the firm has been working on diversifying its product mix and pivoting away from the cloud-storage space.

1800 Owens Street
San Francisco, CA, 94158
T +1 415 857-6800
Industry Software - Infrastructure
Most Recent Earnings Sep 30, 2022
Fiscal Year End Dec 31, 2022
Employees 2,667

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