Why Dropbox Stock Is Struggling
Dropbox (NASDAQ: DBX), a provider of online file storage, has seen its stock remain in the doldrums since its decline after Q2 earnings were announced in August. Investors hoping for a turnaround when the company's Q3 results were reported on Nov. 7 remained out of luck; the stock continued its lackluster run. The stock currently hovers around $18.80 a share, below its March 2018 IPO price of $21.
This is despite achieving 19% year-over-year revenue growth in Q3, beating its guidance, and raising its full-year revenue outlook for the second consecutive quarter. Are investors missing an opportunity here? Or is Dropbox stock to be avoided? To answer that, let's examine the factors driving Dropbox's current stock price.
Image Source: Dropbox.com.
Source Fool.com
