The Chart of the Day belongs to the software technology company Dropbox (DBX) I found the stock by using Barchart's powerful screening functions to find stocks with the highest technical buy signals, highest Weighted Alpha, superior current momentum and having a Trend Seeker buy signal then used the Flipchart feature to review the charts for consistent price appreciation. Since the Trend Seeker signaled a buy on 5/12 the stock gained 21.38%.
Dropbox, Inc. provides a content collaboration platform worldwide. The company's platform allows individuals, families, 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. It serves customers in professional services, technology, media, education, industrial, consumer and retail, and financial services industries. The company was formerly known as Evenflow, Inc. and changed its name to Dropbox, Inc. in October 2009. Dropbox, Inc. was incorporated in 2007 and is headquartered in San Francisco, California.
Barchart's Opinion Trading systems are listed below. Please note that the Barchart Opinion indicators are updated live during the session every 20 minutes and can therefore change during the day as the market fluctuates. The indicator numbers shown below therefore may not match what you see live on the Barchart.com website when you read this report.
Barchart Technical Indicators:
- 100% technical buy signals
- 30.18 Weighted Alpha
- 26.04% gain in the last year
- Trend Seeker buy signal
- Above its 20, 50 and 100 day moving averages
- 16 new highs and up 17.14% in the last month
- Relative Strength Index 74.29%
- Technical support level at $26.28
- Recently traded at $26.72 with 50 day moving average of $22.92
Fundamental Factors:
- Market Cap $9.14 billion
- P/E 29.69
- Revenue projected to grow 6.70% this year and another 4.80% next year
- Earnings estimated to increase 17.10% this year, an additional 11.90% next year and continue to compound at an annual rate of 12.07% for the next 5 years
Analysts and Investor Sentiment -- I don't buy stocks because everyone else is buying but I do realize that if major firms and investors are dumping a stock it's hard to make money swimming against the tide:
- Wall Street analyst gave 1 strong buy, 6 buy, 4 hold and 1 sell opinions on the stock
- Analysts price targets are between $18 and $34
- Value Line rates the stock an average rating of 3 with an 18 month price target of $30 for a 15% gain
- BIG SELL: CFRAs MarketScope rates it a 2 star sell with a 12 month price target of only $18!!!!!!
- 41,640 investors monitor the stock on Seeking Alpha
Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, but may initiate a beneficial Long position through a purchase of the stock, or the purchase of call options or similar derivatives in the next 72 hours.
Additional disclosure: The Barchart Chart of the Day highlights stocks that are experiencing exceptional current price appreciation. They are not intended to be buy recommendations as these stocks are extremely volatile and speculative. Should you decide to add one of these stocks to your investment portfolio it is highly suggested you follow a predetermined diversification and moving stop loss discipline that is consistent with your personal investment risk tolerance and reevaluate your stop losses at least on a weekly basis.
On the date of publication, Jim Van Meerten did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
