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DBX

Dropbox

$30.75

1.23 (4.17%)

, GOOG

Alphabet

$1,082.00

2.77 (0.26%)

07:14
05/17/18
05/17
07:14
05/17/18
07:14

Google changes unlikely to impact Dropbox, says Deutsche Bank

Dropbox (DBX) rival Google (GOOG, GOOGL) this week announced some changes to its consumer-based cloud storage service, Deutsche Bank analyst Karl Keirstead tells investors in a research note. The analyst notes that Google is moving all paid Google Drive consumer subscribers to a newly named Google One service, which includes added storage capacity options, "expert assistance" and the ability to add family members. Google also cut the price of its 2TB capacity plan in half, to $10 from $20 per month, Keirstead adds. He does not see these changes materially impacting Dropbox and keeps a Buy rating on the shares.

DBX

Dropbox

$30.75

1.23 (4.17%)

GOOG

Alphabet

$1,082.00

2.77 (0.26%)

GOOGL

Alphabet Class A

$1,084.03

-0.84 (-0.08%)

  • 03

    Jun

DBX Dropbox
$30.75

1.23 (4.17%)

04/17/18
MACQ
04/17/18
INITIATION
Target $34
MACQ
Outperform
Dropbox initiated with an Outperform at Macquarie
Macquarie analyst Sarah Hindlian initiated Dropbox with an Outperform rating and a price target of $34, saying the company is faced with a "substantial long-term opportunity" given its "dominant" content platform and a "compelling" front-office collaboration product. Hindlian adds that the "low-touch" Dropbox sales model gives it a solid free cash flow profile, while also noting significant addressable market of about 300M users that can be converted to paid vs. about 11M today.
04/17/18
04/17/18
INITIATION

On The Fly: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. GrubHub (GRUB) initiated with an Overweight at Stephens. 2. Dropbox (DBX) initiated with an Outperform at Macquarie and JMP Securities, an Overweight at KeyBanc, JPMorgan, and Piper Jaffray, a Buy at Canaccord and Deutsche Bank, a Sector Perform at RBC Capital, a Neutral at BofA/Merrill and Goldman Sachs, as well as a Hold at Jefferies. 3. Oneok (OKE) initiated with a Neutral at Seaport Global. 4. Jeld-Wen (JELD) initiated with a Hold at Jefferies. 5. Flowers Foods (FLO) resumed with a Hold at Deutsche Bank. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
05/11/18
JPMS
05/11/18
NO CHANGE
Target $35
JPMS
Overweight
Dropbox price target raised to $35 from $32 at JPMorgan
JPMorgan analyst Mark Murphy raised his price target for Dropbox to $35 saying the company last night reported "solid and consistent metrics that beat across the board." The analyst is optimistic on Dropbox's potential to convert its "long runwa"y of 300M target users and broaden collaboration offerings. He keeps an Overweight rating on the shares.
05/11/18
ADAM
05/11/18
NO CHANGE
Target $36
ADAM
Buy
Dropbox weakness a buying opportunity, says Canaccord
Canaccord analyst Richard Davis noted Dropbox shares sold off following its Q1 earnings release but he said he would be an "aggressive buyer" of the shares using the weakness as a buying opportunity. He noted the company delivered upside on every metric and made progress on customer additions, ARPU, and product innovation. Davis reiterated his Buy rating and raised his price target to $36 from $35 on Dropbox shares.
GOOG Alphabet
$1,082.00

2.77 (0.26%)

05/01/18
ROTH
05/01/18
NO CHANGE
Target $8
ROTH
Buy
Google provides validation to Fitbit digital therapeutics thesis, says Roth Capital
Roth Capital analyst Scott Searle notes that Fitbit (FIT) announced a Google (GOOG; GOOGL) relationship that begins with costs and scale and extends to collaboration and innovation around wearables and its resulting data. The analyst believes Google adds performance and efficiencies as well validates Fitbit's emerging digital therapeutics presence. Searle reiterates a Buy rating and $8 price target on Fitbit's shares.
05/09/18
JPMS
05/09/18
NO CHANGE
JPMS
Overweight
Broadcom co-designed Google's third generation AI processor, says JPMorgan
Google (GOOG, GOOGL) yesterday as its developer conference introduced its third generation deep learning/artificial intelligence processor chip called the Cloud Tensor Processor Unit, JPMorgan analyst Harlan Sur tells investors in a research note. The analyst believes the TPU3 chip was co-designed by Broadcom (AVGO). Further, and just as important, Sur believes Broadcom has won, and is already working with Google on its fourth generation TPU4 processor chip using 7nm manufacturing technology. Broadcom remains the analyst's top pick in semiconductors. He reiterates an Overweight rating on the shares.
05/10/18
MSCO
05/10/18
NO CHANGE
Target $93
MSCO
Equal Weight
Walmart deal for Flipkart more dilutive than anticipated, says Morgan Stanley
Morgan Stanley analyst Simeon Gutman noted that news reports heading up to Walmart's (WMT) deal for a majority stake in Flipkart had predicted a $12B transaction for about 60% of a business generating operating losses in the $1B range. However, the higher than expected magnitude of losses Walmart would absorb in India significantly raises the stakes on the trajectory of its U.S. business and clouds the near-term path, he said. He also questions why the company is investing outside the U.S. market, stating that it could have instead accelerated its third-party marketplace infrastructure, stepped up its partnership with Google Home (GOOG) to better compete with Amazon's (AMZN) Alexa, or intensified domestic investments in price and fulfillment. However, he does add that the deal prevents Amazon, for now, from building an "insurmountable" advantage in the important Indian market. Gutman lowered his price target on Walmart to $93 from $99 after the deal was more dilutive than anticipated and keeps an Equal Weight rating on the shares.
05/16/18
KEYB
05/16/18
NO CHANGE
Target $50
KEYB
Overweight
KeyBanc remains a buyer of Criteo
KeyBanc analyst Andy Hargreaves remains a buyer of Criteo (CRTO), reiterating an Overweight rating and $50 price target on the shares. The analyst says that the potential for a decline in consumer consent rates is the biggest risk to Criteo from GDPR. Along these lines, publishers that opt to outsource consent management to Google (GOOG; GOOGL), which may require explicit consent, could see a material change in consent rates, he contends. While this could create a headwind to Criteo's revenue growth, Hargreaves believes exposure is modest and built into current expectations.
GOOGL Alphabet Class A
$1,084.03

-0.84 (-0.08%)

TODAY'S FREE FLY STORIES

15:10
08/21/18
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15:10
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General news
Treasury Closing Summary: »

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PSTG

Pure Storage

$22.00

0.2 (0.92%)

15:04
08/21/18
08/21
15:04
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15:04
Options
Pure Storage options imply 10.8% move in share price post-earnings, above median historical move »

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CASY

Casey's General Stores

$116.05

1.33 (1.16%)

15:01
08/21/18
08/21
15:01
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15:01
Conference/Events
Casey's General Stores management to meet with Jefferies »

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    Nov

RIGL

Rigel Pharmaceuticals

$2.67

0.08 (3.09%)

15:00
08/21/18
08/21
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15:00
Hot Stocks
Rigel's Rodriguez says 'work has just begun' with Tavalisse launch »

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EA

Electronic Arts

$127.21

-0.47 (-0.37%)

15:00
08/21/18
08/21
15:00
08/21/18
15:00
Options
Electronic Arts attracts a bullish option play »

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  • 21

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URBN

Urban Outfitters

$47.40

-0.12 (-0.25%)

14:49
08/21/18
08/21
14:49
08/21/18
14:49
Options
Urban Outfitters options imply 12.9% move in share price post-earnings, above median historical move »

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  • 21

    Aug

SFIX

Stitch Fix

$34.77

1.92 (5.84%)

14:45
08/21/18
08/21
14:45
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14:45
Options
Stitch Fix call volume above normal and directionally bullish »

Bullish option flow…

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  • 21

    Aug

  • 01

    Oct

ATVI

Activision Blizzard

$69.63

0.7 (1.02%)

14:40
08/21/18
08/21
14:40
08/21/18
14:40
Periodicals
Breaking Periodicals news story on Activision Blizzard »

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  • 21

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    Sep

NURO

NeuroMetrix

$1.26

0.04 (3.28%)

, GSK

GlaxoSmithKline

$41.57

0.25 (0.61%)

14:32
08/21/18
08/21
14:32
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14:32
Hot Stocks
NeuroMetrix receives $3.8M milestone payment under its pact with GSK »

NeuroMetrix (NURO)…

NURO

NeuroMetrix

$1.26

0.04 (3.28%)

GSK

GlaxoSmithKline

$41.57

0.25 (0.61%)

03/08/13
Wedge Partners
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Credit Suisse
03/06/13
Citigroup
03/06/13
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  • 25

    Aug

14:30
08/21/18
08/21
14:30
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14:30
General news
Canada Retail Sales Preview »

Canada Retail Sales…

14:25
08/21/18
08/21
14:25
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14:25
General news
Treasury Option Action: more bond positioning »

Treasury Option Action:…

MDT

Medtronic

$95.02

4.96 (5.51%)

14:20
08/21/18
08/21
14:20
08/21/18
14:20
Recommendations
Medtronic analyst commentary  »

Medtronic momentum…

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  • 21

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  • 05

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MS

Morgan Stanley

$48.75

0.48 (0.99%)

14:20
08/21/18
08/21
14:20
08/21/18
14:20
Options
Mega option block in Morgan Stanley »

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  • 12

    Sep

$NSD

NASDAQ Market Internals

$0.00

(0.00%)

14:17
08/21/18
08/21
14:17
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14:17
Technical Analysis
NASDAQ market internals summary »

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RIGL

Rigel Pharmaceuticals

$2.65

0.06 (2.32%)

14:16
08/21/18
08/21
14:16
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14:16
Hot Stocks
Rigel CEO says impact of any Trump policy still unclear »

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$NYE

NYSE Market Internals

$0.00

(0.00%)

14:16
08/21/18
08/21
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Technical Analysis
NYSE market internals summary »

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NFLX

Netflix

$339.67

11.92 (3.64%)

, AAPL

Apple

$216.73

1.25 (0.58%)

14:07
08/21/18
08/21
14:07
08/21/18
14:07
Periodicals
Netflix testing how to bypass iTunes billing in 33 countries, TechCrunch says »

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NFLX

Netflix

$339.67

11.92 (3.64%)

AAPL

Apple

$216.73

1.25 (0.58%)

03/08/13
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  • 21

    Aug

UAL

United Continental

$86.00

0.765 (0.90%)

14:06
08/21/18
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14:06
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14:06
Periodicals
United's Kirby sees average airfares improving, Bloomberg reports »

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  • 06

    Sep

APO

Apollo Global

$34.44

0.22 (0.64%)

, BX

Blackstone

$36.48

-0.32 (-0.87%)

14:04
08/21/18
08/21
14:04
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14:04
Periodicals
PE firms eyeing acquisitions of local TV assets, CNBC reports »

Apollo Global (APO),…

APO

Apollo Global

$34.44

0.22 (0.64%)

BX

Blackstone

$36.48

-0.32 (-0.87%)

NXST

Nexstar

$80.25

1.05 (1.33%)

TRCO

Tribune Media

$35.98

0.91 (2.59%)

SBGI

Sinclair Broadcast

$29.30

0.55 (1.91%)

03/08/13
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  • 05

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UAL

United Continental

$86.32

1.085 (1.27%)

14:00
08/21/18
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14:00
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14:00
Options
Heavy call activity in UAL as shares take off »

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  • 06

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RIGL

Rigel Pharmaceuticals

$2.66

0.07 (2.70%)

13:52
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Rigel's Rodriguez says physician response to Tavalisse 'very positive' »

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JCI

Johnson Controls

$39.84

1.11 (2.87%)

13:50
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Options
Notable call spread in Johnson Controls as shares rally »

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SPY

SPDR S&P 500 ETF Trust

$287.20

1.52 (0.53%)

, SPX

S&P 500

$0.00

(0.00%)

13:46
08/21/18
08/21
13:46
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13:46
Periodicals
Michael Cohen enters plea deal with federal prosecutors, ABC News says »

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SPY

SPDR S&P 500 ETF Trust

$287.20

1.52 (0.53%)

SPX

S&P 500

$0.00

(0.00%)

03/08/13
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GME

GameStop

$16.35

0.5 (3.15%)

13:45
08/21/18
08/21
13:45
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13:45
Options
GameStop call volume above normal and directionally bullish »

Bullish option flow…

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13:40
08/21/18
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General news
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