Raymond James Issues Pessimistic Forecast for DigitalBridge Group (NYSE:DBRG) Stock Price

DigitalBridge Group (NYSE:DBRG) had its price objective lowered by equities research analysts at Raymond James from $19.00 to $16.00 in a report issued on Tuesday, Benzinga reports. The brokerage currently has a “strong-buy” rating on the stock. Raymond James’ price target would indicate a potential upside of 25.44% from the company’s current price.

A number of other equities research analysts also recently commented on the company. Deutsche Bank Aktiengesellschaft reduced their target price on DigitalBridge Group from $17.00 to $16.00 and set a “buy” rating for the company in a report on Thursday, August 15th. B. Riley reduced their price objective on DigitalBridge Group from $27.00 to $24.00 and set a “buy” rating on the stock in a research report on Tuesday, July 9th. JPMorgan Chase & Co. raised their price target on shares of DigitalBridge Group from $22.00 to $23.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 1st. Truist Financial dropped their price objective on shares of DigitalBridge Group from $19.00 to $17.00 and set a “buy” rating for the company in a research note on Wednesday, August 21st. Finally, Wells Fargo & Company decreased their target price on shares of DigitalBridge Group from $18.00 to $16.00 and set an “overweight” rating on the stock in a research report on Monday. One investment analyst has rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $18.13.

DigitalBridge Group Trading Up 1.2 %

DBRG stock opened at $12.76 on Tuesday. The company has a market capitalization of $2.22 billion, a P/E ratio of 17.47, a PEG ratio of 2.21 and a beta of 1.94. DigitalBridge Group has a twelve month low of $11.07 and a twelve month high of $20.99. The business has a 50 day simple moving average of $14.32 and a 200-day simple moving average of $13.89.

DigitalBridge Group (NYSE:DBRG) last announced its quarterly earnings data on Wednesday, August 7th. The company reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.06). DigitalBridge Group had a net margin of 21.42% and a return on equity of 3.58%. The firm had revenue of $390.34 million during the quarter, compared to analyst estimates of $97.05 million. Research analysts predict that DigitalBridge Group will post 0.16 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of DBRG. nVerses Capital LLC boosted its holdings in DigitalBridge Group by 633.3% during the second quarter. nVerses Capital LLC now owns 2,200 shares of the company’s stock worth $30,000 after buying an additional 1,900 shares in the last quarter. Central Pacific Bank Trust Division acquired a new position in shares of DigitalBridge Group during the 3rd quarter worth $35,000. Blue Trust Inc. lifted its holdings in DigitalBridge Group by 179.2% in the 3rd quarter. Blue Trust Inc. now owns 3,752 shares of the company’s stock worth $51,000 after purchasing an additional 2,408 shares during the last quarter. Headlands Technologies LLC lifted its position 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 acquiring an additional 7,398 shares during the last quarter. Finally, Xponance Inc. acquired a new position in shares of DigitalBridge Group during the second quarter worth approximately $138,000. Institutional investors own 92.69% of the company’s stock.

DigitalBridge Group Company Profile

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.