Canaccord Genuity Sticks to Its Buy Rating for Dropbox (DBX)

Canaccord Genuity analyst David Hynes maintained a Buy rating on Dropbox (DBXResearch Report) today and set a price target of $30.00. The company’s shares closed last Thursday at $20.12.

According to TipRanks.com, Hynes is a top 100 analyst with an average return of 33.0% and a 75.8% success rate. Hynes covers the Technology sector, focusing on stocks such as ZoomInfo Technologies, BigCommerce Holdings, and Slack Technologies.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Dropbox with a $26.60 average price target, which is a 40.0% upside from current levels. In a report issued on October 30, RBC Capital also maintained a Buy rating on the stock with a $25.00 price target.

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The company has a one-year high of $24.14 and a one-year low of $14.55. Currently, Dropbox has an average volume of 5.56M.

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Dropbox, Inc. is a collaboration platform that’s transforming the way people and teams work together. It offers following products: Dropbox Basic, Plus, Professional and Business. The Dropbox Basic is the simple, powerful home for photos, videos, docs, and other files. Its users also get access to new product Dropbox Paper, a collaborative workspace that helps teams create and share early ideas, and work with any type of content, in one centralized place. The Dropbox Plus provides unrivalled sync along with 1 TB of space, powerful sharing features, and increased control. The Dropbox Professional allows independent workers to store, share, and track their work from one place. The Dropbox Business is designed for small to enterprise level businesses, which users get full visibility and control over how critical work files are accessed and shared while letting team members continue to use the products. Dropbox was founded by Andrew W. Houston and Arash Ferdowsi in June 2007 and is headquartered in San Francisco, CA.