12:55 AM EDT, 05/13/2024 (MT Newswires) -- CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows:

We keep our 12-month target price at $20, applying an EV/revenue multiple of 2.9x to our 2024 estimate, a discount to its three-year historical average multiple at 4.4x, reflecting recent results and our slow growth outlook. We raise our 2024 EPS estimate by $0.11 to $2.14 and increase 2025's by $0.09 to $2.27. DBX reported Q1 operating EPS of $0.58 vs. $0.42, $0.08 above the consensus. Q1 revenue increased 3.3%, with total annual recurring revenue up 3.6% and total paying users up 1.5% to 18.16 million. While we acknowledge DBX's efforts to broaden its portfolio of offerings with new generative AI products, we note customers have been pushing back on price increases and appear less than willing to pay more for these new features. We believe this limits upside to average revenue per user growth and could result in customer losses. In addition, spending by small and medium-sized businesses remains constrained and could further dampen growth.