Fly News Breaks for February 21, 2020
Feb 21, 2020 | 08:24 EDT
Deutsche Bank analyst Karl Keirstead raised the firm's price target on Dropbox to $30 from $28 and affirms a Buy rating on the shares. Dropbox reported a "potentially thesis-changing" Q4, highlighted by a "huge raise" to its non-GAAP operating margin as well as free cash flow guidance, Keirstead tells investors in a post-earnings research note. The fresh debate is around what caused Dropbox to guide to such a material improvement in operating leverage and efficiency, says the analyst.
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