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

DigitalBridge Group (NYSE:DBRG) had its target price lowered by Wells Fargo & Company from $18.00 to $16.00 in a note issued to investors on Monday, Benzinga reports. The firm currently has an “overweight” rating on the stock. Wells Fargo & Company‘s price objective indicates a potential upside of 19.40% from the company’s previous close.

A number of other research firms have also weighed in on DBRG. JPMorgan Chase & Co. raised their price target on shares of DigitalBridge Group from $22.00 to $23.00 and gave the company an “overweight” rating in a research report on Tuesday, October 1st. Deutsche Bank Aktiengesellschaft cut their target price 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 decreased their price target 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. Raymond James cut their price objective on DigitalBridge Group from $22.00 to $19.00 and set a “strong-buy” rating on the stock in a research report on Thursday, August 8th. Finally, 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. Seven investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $18.97.

DigitalBridge Group Stock Performance

Shares of NYSE DBRG opened at $13.40 on Monday. The stock has a market cap of $2.33 billion, a price-to-earnings ratio of 18.36, a PEG ratio of 2.76 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. The firm’s 50-day simple moving average is $14.33 and its 200 day simple moving average is $13.98.

DigitalBridge Group (NYSE:DBRG) last announced its earnings results 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). The company had revenue of $390.34 million for the quarter, compared to analysts’ expectations of $97.05 million. DigitalBridge Group had a net margin of 35.10% and a return on equity of 4.49%. On average, sell-side analysts predict that DigitalBridge Group will post 0.16 EPS for the current year.

Institutional Trading of DigitalBridge Group

A number of hedge funds have recently bought and sold shares of the company. nVerses Capital LLC grew its stake in shares of DigitalBridge Group by 633.3% during the second quarter. nVerses Capital LLC now owns 2,200 shares of the company’s stock valued at $30,000 after buying an additional 1,900 shares during the last quarter. Central Pacific Bank Trust Division bought a new stake in DigitalBridge Group in the third quarter valued at approximately $35,000. Blue Trust Inc. boosted its stake in shares of DigitalBridge Group by 179.2% during the third quarter. Blue Trust Inc. now owns 3,752 shares of the company’s stock valued at $51,000 after purchasing an additional 2,408 shares during the period. Headlands Technologies LLC grew its holdings in shares of DigitalBridge Group by 33,627.3% in the second quarter. Headlands Technologies LLC now owns 7,420 shares of the company’s stock worth $102,000 after purchasing an additional 7,398 shares during the last quarter. Finally, Xponance Inc. purchased a new stake in DigitalBridge Group during the 2nd quarter valued at $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.