During the current COVID-19 crisis, the Work-From-Home (WFH) has become one of the essential investment themes. Businesses such as Zoom (ZM), Slack Technologies (WORK), which are facilitating WFH activities, have seen their shares surging much higher in the stock market. However, Dropbox (DBX), another company that also benefits from the WFH trend, has not had similar share price growth. With the growing business performance and free cash flow generation, we think Dropbox is undervalued now.
Dropbox grows along with the COVID-19 WFH trend, turning profitable
In the first quarter