Should Dropbox stock be up 300% like Zoom stock? No.
To that end, the significant lag in Dropbox stock in 2020 doesn’t make much sense. If they don’t, demand for Dropbox’s remote-work-focused secure storage and workflow management solutions will remain persistently robust. Many employees won’t ever go back to the office. For many - like those employed at Square (NYSE: SQ), Twitter (NYSE: TWTR), Shopify (NYSE: SHOP) and Facebook (NASDAQ: FB) - work from home is a permanent lifestyle change. Ubiquity will never be the thing for Dropbox.īut Dropbox’s cross-platform storage functionality - which allows users to securely store Office 365 spreadsheets next to Google Docs and Trello boards - is an immense value-add for enterprises with multiple digital workflow management tools, especially in a world where employees are working remotely.Īs such, while Dropbox won’t see a Zoom-like or DocuSign-like demand surge amid the Covid-19 pandemic, it will see a sizable increase in demand.Īnd this demand surge won’t fade over time. Companies don’t need Dropbox to survive in a work from home world the same way they need a communication platform such as Slack or Microsoft (NASDAQ: MSFT) Teams.
#PROJECTED DROPBOX STOCK SOFTWARE#
Dropbox’s Lag isn’t Rationalĭropbox stock has lagged other work from home stocks because investors are broadly concerned that the company’s core secure storage solution isn’t as mission-critical to remote work environments as the solutions offered by other companies, such as video teleconferencing software or enterprise communications platforms. But this lag makes DBX stock the best work from home stock to buy today. That’s better than wider markets, but compare it to 50%+ gains for the likes of Atlassian (NASDAQ: TEAM) and Slack (NYSE: WORK), 100%+ gains for Twilio (NASDAQ: TWLO) and DocuSign (NASDAQ: DOCU) and the 300%+ gain in Zoom (NASDAQ: ZM) stock.Ĭlearly, Dropbox stock has been the laggard.
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