Coronavirus crisis induced work-from-home wave has triggered demand for cloud storage, which might have led to incremental adoption of the Dropbox platform in the third quarter.ĭropbox, Inc. Factors Likely to Have Influenced Q3 Performanceĭropbox has been striving to enhance its platform to enable users to access, store, synchronize and share files, photos, videos, songs and spreadsheets. Notably, the company beat estimates in each of the trailing four quarters, the average surprise being 20.83%. This suggests an improvement of 46.2% from the prior-year quarter. Moreover, the consensus mark for second-quarter earnings has remained unchanged at 19 cents per share over the past 30 days. The Zacks Consensus Estimate for revenues is pegged at $482.6 million, which indicates growth of 12.7% from the year-ago reported figure. Solid uptick in Dropbox’s new Desktop App amid coronavirus crisis-induced evolving workspace demand for seamless enterprise communication tools is expected to get reflected in the third-quarter top line. To read this article on click here.Dropbox DBX is slated to report third-quarter 2020 results on Nov 5.įor the third quarter, the company expects revenues between $481 million and $484 million. Click to get this free reportĬhesapeake Energy Corporation (CHK) : Free Stock Analysis ReportĬVS Health Corporation (CVS) : Free Stock Analysis ReportĪctivision Blizzard, Inc (ATVI) : Free Stock Analysis Reportĭropbox, Inc. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. If you don't buy now, you may kick yourself in 2020. Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 6 tickers for taking advantage of it. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 27 billion devices in just 3 years, creating a $1.7 trillion market. ![]() It could become the mother of all technological revolutions. More Stock News: This Is Bigger than the iPhone! ĬVS Health Corporation CVS has an Earnings ESP of +0.05% and a Zacks Rank #3.Ĭhesapeake Energy Corporation CHK has an Earnings ESP of +8.24% and a Zacks Rank #3. You can see the complete list of today’s Zacks #1 Rank stocks here. Here are a few stocks you may want to consider, as our model shows that these have the right combination of elements to post an earnings beat.Īctivision Blizzard, Inc ATVI has an Earnings ESP of +24.3% and a Zacks Rank #1 (Strong Buy). Zacks Rank: Dropbox currently carries a Zacks Rank of #2 (Buy). You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.Įarnings ESP: The Earnings ESP for Dropbox is -6.25%. The combination of a positive Earnings ESP and Zacks Rank #3 (Hold) or higher increases the odds of an earnings beat. Our proven model doesn’t conclusively predict an earnings beat for Dropbox this time around. However, increasing investments on product enhancements and other growth strategies are likely to have limited margin expansion in the third quarter. In fact, these aforesaid factors have been helping Dropbox in winning new customers. Dropbox’s acquisition synergies and strong expansion drive are anticipated to get reflected in the third-quarter results. The company’s partnership with Microsoft, Google, Salesforce, Adobe, and Zoom is making it easier for people and organizations to work with files on the go. ![]() Dropbox has also been announcing various partnership programs of late. The companies together have been providing enhanced experience to Dropbox users, and simplifying workflows for millions of customers. ![]() ![]() These are anticipated to get reflected in the third-quarter top line.ĭropbox has completed the acquisition of HelloSign. The company’s focus on helping users access and synchronize files, and utilize applications through multiple devices has been enhancing user experience and consequently the third-quarter performance.įurther, strong focus on product innovation and introduction of new products are anticipated to have provided the company a competitive edge against peers. Dropbox’s continuous efforts to strengthen cloud-based and AI technologies are likely to have driven the top line in the third quarter.
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