. Dropbox earned 16 cents per share in the quarter, versus 14 cents per share as expected by analysts polled by Refinitiv. Revenue also beat expectations. CEO Drew Houston said the company now aims to be profitable by the end of 2020.— Chewy climbed more than 4.
8% after RBC Capital Markets upgraded the stock to outperform from sector perform. The firm's analyst said in a note to clients that the company could see significant improvement in its gross margins this year, bringing the e-commerce company closer to profitability. RBC has a price target of $38 per share for the stock, which is about 25% higher than where shares are currently trading.
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