Long Position on DBX @ $18.00 on 3/9/2020 (Fundamentals)

Dropbox, Inc. (DBX) provides a collaboration platform worldwide.

The company's platform allows individuals, teams, and organizations to collaborate and sign up for free through its website or app, as well as upgrade to a paid subscription plan for premium features.

As of December 31, 2019, it had approximately 600 million registered users across 180 countries. 

On February 20th, Dropbox reported Quarter December 2019 earnings of $0.18 per share on revenue of $446.0 million. The consensus earnings estimate was $0.14 per share on revenue of $443.2 million. Revenue grew 18.6% on a year-over-year basis.

The company said it expects first quarter revenue of $452.0 million to $454.0 million and 2020 revenue of $1.89 billion to $1.905 billion. The current consensus estimate is revenue of $449.2 million for the quarter ending March 31, 2020 and revenue of $1.90 billion for the year ending December 31, 2020.

Shares are near a support line and today's weakness should push shares down to their 50-day moving average. 

Entry Point: $18.00

Trading Range: $16.08 - $26.20

Stop Loss: $17.00

Target Price: $20.00

Updates

4/20/2020 10:04:09 AM

DBX closed at $20.00

Position closed on 4/20/2020 at price of $20.00 with a 11.11% gain in 42 days.

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