Reported last night. Up 10% earlier this AM ($27.68). I read the report. It was ok... they had tepid growth imo. BFD. Amazon and Apple will eventually bury them. (unless they buy DBX). Its overpriced AF. Let the momentum traders run this thing out of the gate, there'll be a baby short squeeze today.... then try to catch the top and short it anywhere near $28. Forward PE of 70... gimmee a break. Another IPO thats gonna tank. Its heading for the teens soon enough. Just give it some time.
I can't agree with you analysis. I doubt that Amazon and Apple will bury DBX. First DBX does not make money off consumers who mostly have free accounts. They make it off businesses, who seem to have standardized on Dropbox as the number one site for sharing big data files. Also, I think there is a very good chance for DBX being acquired, perhaps by IBM, who currently has no popular cloud storage options.
It's rather a good takeover candidate, I bet many are waiting for it to drop so they can make the offer.
I definitely agree on the takeover possibility. But they only added 2M paying customers YOY. Thats not impressive considering their forward PE. Its priced at about 8X forward sales currently. And AMZN is in the same biz. BABA announced today that this is where their future lies too. Cloud services. Who knows, IBM has been known to overpay.
BABA is already doing fine in Cloud Services, and will do fine with online storage, in the China market. But no way will American firms trust BABA with storing their data.
They're banking on Europe too fwiw. https://www.cnbc.com/2018/10/22/ali...ters-to-boost-cloud-operations-in-europe.html