In the latest trading session, Dropbox (DBX) closed at $26.17, marking a +1.36% move from the previous day. The stock outpaced the S&P 500's daily loss of 0.33%. Elsewhere, the Dow lost 0.22%, while the tech-heavy Nasdaq lost 0.56%.

Heading into today, shares of the online file-sharing company had gained 3.07% over the past month, outpacing the Computer and Technology sector's gain of 2.83% and the S&P 500's gain of 1.83% in that time.

Market participants will be closely following the financial results of Dropbox in its upcoming release. The company plans to announce its earnings on November 7, 2024. The company is expected to report EPS of $0.52, down 7.14% from the prior-year quarter. Alongside, our most recent consensus estimate is anticipating revenue of $636.93 million, indicating a 0.62% upward movement from the same quarter last year.

For the annual period, the Zacks Consensus Estimates anticipate earnings of $2.22 per share and a revenue of $2.54 billion, signifying shifts of +12.12% and +1.73%, respectively, from the last year.

Investors might also notice recent changes to analyst estimates for Dropbox. These recent revisions tend to reflect the evolving nature of short-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.

Our research shows that these estimate changes are directly correlated with near-term stock prices. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.

The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the past month, there's been no change in the Zacks Consensus EPS estimate. At present, Dropbox boasts a Zacks Rank of #3 (Hold).

In terms of valuation, Dropbox is presently being traded at a Forward P/E ratio of 11.63. This expresses a discount compared to the average Forward P/E of 35.36 of its industry.

Meanwhile, DBX's PEG ratio is currently 0.95. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. By the end of yesterday's trading, the Internet - Services industry had an average PEG ratio of 2.27.

The Internet - Services industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 59, which puts it in the top 24% of all 250+ industries.