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Fly News Breaks for August 9, 2019
DBX
Aug 9, 2019 | 05:27 EDT
Dropbox last night reported Q2 revenue slightly ahead of expectations, though billings was a bit shy due to a higher mix of monthly invoicing, Jefferies analyst John DiFucci tells investors in a research note. The company expects continued paid users growth and average revenue per user expansion, however, which should benefit from the new Dropbox unified workspace app, adds the analyst. He believes Dropbox posted a "solid" quarter with a "positive" outlook and keeps a Buy rating on the shares with a $32 price target.
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