Dropbox falls after Citi downgrade on growth concerns

By Reuters News

** Shares of cloud platform provider Dropbox DBX.O fall 5% to $32.5 premarket

** Brokerage Citi downgrades the stock to "sell" from "neutral"

** Citi says recent gains have outpaced the company's underlying business progress and growth prospects

** Co's core business remains under pressure and has yet to show sustained growth despite recent stabilization - Citi

** One of nine brokerages rates the stock "buy", four "hold" and four "sell" or lower; median PT is $29 - data compiled by LSEG

** As of last close, stock up 23.1% YTD

Capital.com is an execution-only brokerage platform and the content provided on the Capital.com website is intended for informational purposes only and should not be regarded as an offer to sell or a solicitation of an offer to buy the products or securities to which it applies. No representation or warranty is given as to the accuracy or completeness of the information provided.

The information provided does not constitute investment advice nor take into account the individual financial circumstances or objectives of any investor. Any information that may be provided relating to past performance is not a reliable indicator of future results or performance.

To the extent permitted by law, in no event shall Capital.com (or any affiliate or employee) have any liability for any loss arising from the use of the information provided. Any person acting on the information does so entirely at their own risk.

Any information which could be construed as “investment research” has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication.