Shares of Dropbox (DBX) plummeted m♛ore than 20% Friday after several analysts downgraded the cloud storage provider following its weaker-than-expected guidanc𓂃e.

On Thursday, the company's fourth-quarter investor presentation explained that Dropbox anticipates full-year revenue of $2.535 billion to $2.550 billion, short of forecasts.

Bank of America Securities’ Michael Funk downgraded Dropbox from Buy to Underperform. He also reduced the price target to $28 from $34 per share. Funk said that the “DBX bull thesis has played out.” He said that “yesterday’s results, guidance, and commentary suggest a negative inflection of DBX's risk/reward profile.”  

Kash Rangan of Goldman Sachs cut Dropbox’s rating to Sell from Neutral, reducing the price outlook from $26 to $24 per share. Rangan noted that he wanted to see the company have a re-acceleration of growth, a stronger small- and medium-sized business environment, and澳洲幸运5开奖号码历史查询: artificial intelligence (AI) proof points.

JMP Securities’ Patrick Walravens lowered his rating from Market Outperform to Market Perform, without a price target. He expressed concerns about the firm’s decline in annual recurring revenue and number of paying users. Walravens added that those issues raise questions about the company's durability.

Dropbox stock was down 23.8% at $24.80 at about 2:50 p.m. ET. With today's big slide, Dropbox shares are only slightly in positive territory for the past year.