Many tech stocks tumbled this year as investors fretted over rising bond yields, inflation rates, frothy valuations, and tough post-pandemic comparisons for companies that benefited from stay-at-home measures. But one tech stock that weathered that storm was cloud storage provider Dropbox (NASDAQ: DBX).
Dropbox's stock has risen about 20% this year, but it still looks cheap at 18 times forward earnings. It's also trading above its IPO price of $21 again, after sliding below it in the final few months of 2020. Let's see why Dropbox's stock finally firmed up, and whether or not it's still a worthy investment today.
Image source: Getty Images.
Source Fool.com