Wells Fargo & Company Has Lowered Expectations for DigitalBridge Group (NYSE:DBRG) Stock Price

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

Several other research firms also recently weighed in on DBRG. Deutsche Bank Aktiengesellschaft dropped their price target on DigitalBridge Group from $17.00 to $16.00 and set a “buy” rating on the stock in a research note on Thursday, August 15th. Truist Financial dropped their price target on DigitalBridge Group from $19.00 to $17.00 and set a “buy” rating on the stock in a research note on Wednesday, August 21st. JPMorgan Chase & Co. boosted their price target on DigitalBridge Group from $22.00 to $23.00 and gave the company an “overweight” rating in a research note on Tuesday, October 1st. B. Riley lowered their target price on DigitalBridge Group from $27.00 to $24.00 and set a “buy” rating on the stock in a research note on Tuesday, July 9th. Finally, Raymond James lowered their target price on DigitalBridge Group from $22.00 to $19.00 and set a “strong-buy” rating on the stock in a research note on Thursday, August 8th. Seven equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, DigitalBridge Group presently has a consensus rating of “Buy” and a consensus target price of $18.59.

DigitalBridge Group Stock Performance

DigitalBridge Group stock opened at $12.60 on Monday. The business’s 50-day simple moving average is $14.32 and its two-hundred day simple moving average is $13.92. The company has a market cap of $2.19 billion, a PE ratio of 17.26, a PEG ratio of 2.36 and a beta of 1.94. DigitalBridge Group has a fifty-two week low of $11.07 and a fifty-two week high of $20.99.

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

Hedge Funds Weigh In On DigitalBridge Group

A number of large investors have recently bought and sold shares of the business. Vanguard Group Inc. raised its holdings in DigitalBridge Group by 1.1% in the 1st quarter. Vanguard Group Inc. now owns 23,274,328 shares of the company’s stock worth $448,496,000 after purchasing an additional 256,016 shares during the period. Wafra Inc. raised its holdings in DigitalBridge Group by 7.1% in the 2nd quarter. Wafra Inc. now owns 15,455,808 shares of the company’s stock worth $211,745,000 after purchasing an additional 1,020,409 shares during the period. New South Capital Management Inc. raised its holdings in DigitalBridge Group by 0.3% in the 3rd quarter. New South Capital Management Inc. now owns 3,940,203 shares of the company’s stock worth $55,675,000 after purchasing an additional 10,441 shares during the period. Legion Partners Asset Management LLC raised its holdings in DigitalBridge Group by 3.3% in the 2nd quarter. Legion Partners Asset Management LLC now owns 3,453,253 shares of the company’s stock worth $47,310,000 after purchasing an additional 111,243 shares during the period. Finally, Massachusetts Financial Services Co. MA acquired a new position in DigitalBridge Group in the 2nd quarter worth about $39,033,000. Institutional investors and hedge funds 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.