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Dropbox


Michael97
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Hi Michael, thanks for the question. 

Simply said, Dropbox stock is booming. Shares of the company are up 13% in the past few days after it reported a first-ever quarterly profit, which came three quarters earlier than previously anticipated. 

Dropbox reported adjusted earnings of $0.17 per share, higher than $0.14 expected from the market. Sales came in at $455 million, marking a surge of 18% compared to the same period a year ago.

“We had a strong first quarter as we rallied together to support our customers and our community during this unprecedented public health crisis,” CEO Drew Houston said.

Even more importantly, Dropbox has registered a surge in active users in March as millions of people were trapped home. Since more and more companies are encouraging remote work, Dropbox stock may push much higher.

Shares of the company are trading around $23, with the bulls eyeing $23.70 and $24 as their next targets.


 

Edited by Criss Edward
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