Dropbox Inc. (DBX) shares plummeted 5.00% during intraday trading on Monday, reflecting significant selling pressure in the session.
The decline followed news that Citi lowered its price target on the cloud storage company to $27 from $30, while maintaining a Neutral rating on the shares. Analyst price target reductions often signal concerns about a company's future earnings potential or valuation, which can trigger negative investor sentiment and selling activity.
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