'Given investor preferences today, investors want a combination of high growth and profitability, and Dropbox really crosses off both those buckets,' Jaluria said on CNBC. Davidson analyst Rishi Jaluria says Dropbox is too good of a long-term opportunity for investors to pass up.

Many of these stocks have had big day-one gains only to drift steadily lower from there as investor enthusiasm wanes and insider lock-ups expire. In fact, eight of the 10 largest tech sector IPOs of all time plunged between 25 percent and 71 percent in the year following their first day of trading. Snap is not alone among big-name tech stocks that have disappointed early investors. A little more than a year later, Snap stock is now trading about 3.1 percent below its IPO price. Unfortunately, those gains were short-lived. All Rights Reserved.Tech investors can't help but think back to Snap, which initially got off to a similarly hot start, gaining 44 percent on its first day of trading. All content of the Dow Jones branded indices © S&P Dow Jones Indices LLC 2019 and/or its affiliates. Standard & Poor's and S&P are registered trademarks of Standard & Poor's Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC.

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Dropbox stock today