RBC Capital raised the firm’s price target on Dropbox (DBX) to $35 from $32 and keeps an Outperform rating on the shares. The company reported another mixed quarter, as revenue upside was muted and annual recurring revenue growth decelerated 130 bps, but Dropbox noted strong top of funnel activity alongside retention efforts improving, the analyst tells investors in a research note.
Confident Investing Starts Here:
- Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions
- Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on DBX:
- Dropbox: Balancing Profitability with Growth Challenges Amidst Fair Valuation
- Dropbox price target raised to $31 from $30 at UBS
- Dropbox price target raised to $32 from $30 at Citi
- Dropbox: Balancing Strong Performance with Caution Amid Macroeconomic Risks
- Dropbox’s Mixed Financial Signals Lead to Hold Rating Amid Strong Margins and Strategic Concerns
Looking for a trading platform? Check out TipRanks' Best Online Brokers , and find the ideal broker for your trades.
Report an Issue