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Fly News Breaks for February 22, 2019
DBX
Feb 22, 2019 | 06:57 EDT
BofA/Merrill analyst Justin Post upgraded Dropbox to Buy from Neutral with a $33 price target saying the selloff creates a buying opportunity. Dropbox's Q4 report beat, but billings was a bit light, the analyst wrote in a note to investors. Post said ARPU tracked above expectations, suggesting Dropbox is executing on its up-sell strategy, and paying users showed stabilization. He upgraded the shares saying they are particularly attractive given the margin expansion opportunity and stabilizing paying user growth.
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