Bull of the Day: Dropbox (DBX)

Zacks11-21 17:00

Increased profitability, strong cash flow, and innovation into artificial intelligence is starting to make Dropbox DBX stock appealing among the Zacks Internet-Services Industry, which is in the top ...

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Considering such, Dropbox stock sports a Zacks Rank #1  and lands the Bull of the Day after exceeding its Q3 expectations earlier in the month.Dropbox’s paying users stood at 18.24 million at the end of Q3 2024, up from 18.17 million in the comparative quarter. Enhancing its operating efficiency, Q3 EPS was slightly up to $0.60 and impressively topped the Zacks EPS Consensus of $0.52 a share.Third quarter sales of $638.8 million increased 1% from a year ago and edged estimates of $636.93 million. 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Considering such, Dropbox stock sports a Zacks Rank #1 (Strong Buy) and lands the Bull of the Day after exceeding its Q3 expectations earlier in the month.\nIncreased Profitability Overview\nOperating as a file hosting service, Dropbox synchronizes personal cloud and enterprise software to create, access, and share digital content.\nDropbox’s paying users stood at 18.24 million at the end of Q3 2024, up from 18.17 million in the comparative quarter. Enhancing its operating efficiency, Q3 EPS was slightly up to $0.60 and impressively topped the Zacks EPS Consensus of $0.52 a share.\nThird quarter sales of $638.8 million increased 1% from a year ago and edged estimates of $636.93 million. Most intriguing and indicative of more upside in Dropbox stock is that earnings estimate revisions for fiscal 2024 and FY25 are up 7% and 9% in the last 30 days respectively. Furthermore, Dropbox's annual earnings are now expected to increase over 20% this year and are projected to rise another 9% in FY25 to $2.62 per share.\nImage Source: Zacks Investment Research\nStronger Cash Flow\nPiggybacking on Dropbox's operational efficiency, free cash flow increased 9% year over year to a quarterly record of $270.1 million as shown in the chart below.\nImage Source: Zacks Investment Research\n \nDropbox Dash (AI Prospects)  \nMaking good use of its free cash flow, Dropbox has planned to expand and innovate its platform. During its Q3 report, Co-founder and CEO Drew Houston stated Dropbox plans to leverage its customer base, trusted brand, and scale infrastructure to deliver on the company’s next phase of growth.\nExpansion into AI may interest investors in particular, with Dropbox Dash being an AI-powered universal search tool designed to help users find, organize, and share content across various apps and platforms.\nDropbox’s Attractive P/E Valuation \nWith Dropbox focusing on the next phase of growth, its valuation should attract value investors. To that point, DBX trades under $30 and at a very reasonable 11.7X forward earnings multiple. \nThis is a sharp discount to the S&P 500’s 25.1X and the Zacks Internet-Services average of 23.5X with some of the notable names in the space being Shopify SHOP and Uber Technologies UBER.\nImage Source: Zacks Investment Research\nBottom Line \nPositive earnings estimate revisions are starting to magnify Dropbox’s attractive P/E valuation and EPS growth. With now appearing to be an ideal time to buy Dropbox’s stock, the company’s innovation is starting to make DBX look like a viable long-term investment as well.  \nWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report\nDropbox, Inc. (DBX) : Free Stock Analysis Report\nShopify Inc. (SHOP) : Free Stock Analysis Report\nUber Technologies, Inc. (UBER) : Free Stock Analysis Report\nTo read this article on Zacks.com click here.\nZacks Investment Research","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.1","shortVersion":"4.29.1","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2485613584"}