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
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- Dropbox’s Growth Concerns and Flat Outlook Justify Hold Rating Despite Strong Q3 Performance
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