Long Position on DBX @ $24.00 on 2/10/2021 (Momentum)

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.

The company was formerly known as Evenflow, Inc. and changed its name to Dropbox, Inc. in October 2009.

Dropbox reported 3rd Quarter September 2020 earnings of $0.27 per share on revenue of $487.4 million. The consensus earnings estimate was $0.18 per share on revenue of $482.6 million. Revenue grew 13.8% on a year-over-year basis.

The company said during its conference call it expects fourth quarter revenue of $497.0 million to $499.0 million. The current consensus revenue estimate is $491.89 million for the quarter ending December 31, 2020.

Please note, this stock reports earnings on February 18.

This stock should see an increase in share prices as it follows it's "upwards trading channel".

Entry point: $24.00

52-week trade range: $14.55 - $25.70

Stop/Loss: $22.80

Target Price: $26.40

Position closed on 3/31/2021 at price of $27.00 with a 12.50% gain in 49 days.

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