Wells Fargo & Company Issues Pessimistic Forecast for DigitalBridge Group (NYSE:DBRG) Stock Price

DigitalBridge Group (NYSE:DBRG) had its price target lowered by equities research analysts at Wells Fargo & Company from $18.00 to $16.00 in a note issued to investors on Monday, Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Wells Fargo & Company‘s price objective would suggest a potential upside of 26.98% from the stock’s current price.

A number of other equities analysts have also recently issued reports on DBRG. Raymond James dropped their price objective on DigitalBridge Group from $22.00 to $19.00 and set a “strong-buy” rating for the company in a report on Thursday, August 8th. JPMorgan Chase & Co. lifted their target price on DigitalBridge Group from $22.00 to $23.00 and gave the company an “overweight” rating in a research report on Tuesday, October 1st. B. Riley decreased their target price on DigitalBridge Group from $27.00 to $24.00 and set a “buy” rating for the company in a research report on Tuesday, July 9th. Truist Financial decreased their target price on DigitalBridge Group from $19.00 to $17.00 and set a “buy” rating for the company in a research report on Wednesday, August 21st. Finally, Deutsche Bank Aktiengesellschaft decreased their target price on DigitalBridge Group from $17.00 to $16.00 and set a “buy” rating for the company in a research report on Thursday, August 15th. Seven investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $18.59.

DigitalBridge Group Stock Performance

Shares of DigitalBridge Group stock opened at $12.60 on Monday. The stock has a 50 day moving average price of $14.32 and a 200-day moving average price of $13.92. DigitalBridge Group has a one year low of $11.07 and a one year high of $20.99. The stock has a market cap of $2.19 billion, a price-to-earnings ratio of 17.26, a price-to-earnings-growth ratio of 2.36 and a beta of 1.94.

DigitalBridge Group (NYSE:DBRG) last posted its quarterly earnings data on Wednesday, August 7th. The company reported $0.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.06). DigitalBridge Group had a net margin of 21.42% and a return on equity of 3.59%. The business had revenue of $390.34 million for the quarter, compared to analysts’ expectations of $97.05 million. Sell-side analysts predict that DigitalBridge Group will post 0.16 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. nVerses Capital LLC raised its position in shares of DigitalBridge Group by 633.3% in the 2nd quarter. nVerses Capital LLC now owns 2,200 shares of the company’s stock worth $30,000 after acquiring an additional 1,900 shares in the last quarter. Central Pacific Bank Trust Division purchased a new position in DigitalBridge Group during the 3rd quarter worth $35,000. Blue Trust Inc. grew its stake in DigitalBridge Group by 179.2% during the 3rd quarter. Blue Trust Inc. now owns 3,752 shares of the company’s stock worth $51,000 after buying an additional 2,408 shares during the last quarter. Headlands Technologies LLC grew its stake in DigitalBridge Group by 33,627.3% during the 2nd quarter. Headlands Technologies LLC now owns 7,420 shares of the company’s stock worth $102,000 after buying an additional 7,398 shares during the last quarter. Finally, Xponance Inc. purchased a new position in DigitalBridge Group during the 2nd quarter worth $138,000. 92.69% of the stock is owned by institutional investors.

About DigitalBridge Group

DigitalBridge is an infrastructure investment firm specializing in digital infrastructure assets. They provide services to institutional investors. They primarily invest in data centers, cell towers, fiber networks, small cells, and edge infrastructure. DigitalBridge Group, Inc was founded in 1991 and is headquartered in Boca Raton, Florida with additional offices in Los Angles, California, and New York New York.