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Dropbox Inc Class A - Stock Quote DBX

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Morningstar's Dropbox Inc Class A Stock Analysis

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Dropbox Drops a Strong Opening Quarter in Line with Expectations; FVE $26; Shares Undervalued

Analyst Note

| Malik Ahmed Khan |

We are lowering our fair value estimate for no-moat Dropbox to $26 from $30 per share as a result of slightly reduced topline growth projections. The firm’s second quarter financial results were largely in line with our expectations as upselling activity bolstered the firm’s topline. We continue to think that the market has been overly punitive on SaaS companies in recent months, including Dropbox. With shares trading around $22, we still see modest upside for long-term investors after the market selloff.

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Dropbox Inc Class A's Company Profile

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.

Contact
1800 Owens Street
San Francisco, CA, 94158
T +1 415 857-6800
Sector Technology
Industry Software - Infrastructure
Most Recent Earnings Mar 31, 2022
Fiscal Year End Dec 31, 2022
Stock Type Speculative Growth
Employees 2,667

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