DFH, VCTR and DBX made it to the Zacks Rank #1 (Strong Buy) value stocks list on November 19, 2024.
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Dropbox's user growth has nearly halted, with revenue growth sliding to low single digits and customer acquisition faltering, signaling more downside ahead. Dropbox faces stiff competition from Box and Google Drive, leading to an existential crisis and a major slowdown in user acquisition. Despite large free cash flows, Dropbox maintains a net debt position and lowered its cash flow guidance, pushing it further from its $1 billion FCF goal.
Dropbox's third-quarter 2024 results benefit from an increase in average revenue per paying user.
Dropbox has changed a lot in the last two years and so has my investment thesis.
Dropbox (DBX) came out with quarterly earnings of $0.60 per share, beating the Zacks Consensus Estimate of $0.52 per share. This compares to earnings of $0.56 per share a year ago.
A number of big-name tech companies continued to make job cuts in the month that just ended. October saw job losses in the thousands at some of the industry's biggest players, according to job site layoff tracker Layoffs.fyi.
Dropbox is dropping a huge chunk of its head count.
Dropbox (DBX) stock price has been boring since the company went public in 2018. It has remained largely unchanged even as its annual revenue has risen gradually to over $2.5 billion.
Dropbox will lay off 20% of its global workforce, the equivalent of 528 roles, CEO Drew Houston announced Wednesday in a note to staff. Dropbox will be making cuts to the parts of its business where the company is "over-invested or underperforming" while working towards a "flatter, more efficient" team structure, Houston wrote.