RBC Capital Thinks Dropbox Inc’s Stock is Going to Recover

In a report issued on August 9, Mark Mahaney from RBC Capital maintained a Buy rating on Dropbox Inc (DBXResearch Report), with a price target of $32. The company’s shares closed on Friday at $18.71, close to its 52-week low of $18.40.

According to TipRanks.com, Mahaney is a top 100 analyst with an average return of 21.8% and a 62.5% success rate. Mahaney covers the Technology sector, focusing on stocks such as Uber Technologies Inc, Trade Desk Inc, and Eventbrite Inc.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Dropbox Inc with a $30.20 average price target, representing a 61.4% upside. In a report issued on August 5, William Blair also maintained a Buy rating on the stock.

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The company has a one-year high of $31.95 and a one-year low of $18.40. Currently, Dropbox Inc has an average volume of 4.76M.

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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.