DigitalBridge Group (NYSE:DBRG) Price Target Raised to $16.00

DigitalBridge Group (NYSE:DBRG) has received a price target increase from Wells Fargo & Company, which has raised its estimate from $15.00 to $16.00. This adjustment was highlighted in a research report released on Monday, indicating that the stock currently holds an "overweight" rating. The new target price suggests that there is a potential upside of approximately 31.42% based on the stock's current price.

Additional Analyst Commentary

Other research firms have also recently expressed their perspectives on DigitalBridge Group. B. Riley recently reduced their price objective from $24.00 to $20.00 while maintaining a "buy" rating for the company. Citizens JMP upgraded their rating to a "strong-buy" on January 27th. On the other hand, Raymond James lowered their price estimate from $19.00 to $16.00, still offering a "strong-buy" rating. Keefe, Bruyette & Woods adjusted their rating from "outperform" to "market perform" and cut their target from $17.75 to $14.00. Likewise, JPMorgan Chase reduced their price target from $20.00 to $18.00 while keeping an "overweight" rating on the stock. Currently, one analyst has given the stock a hold rating, while seven analysts favor a buy rating and two have classified it as a strong buy. MarketBeat's data shows that DigitalBridge Group has an average target price of $16.67 along with a consensus rating of "Buy."

Recent Stock Performance

At the market opening on Monday, DigitalBridge Group shares were priced at $12.18. The company's recent performance reveals a 50-day simple moving average of $10.99 and a 200-day simple moving average at $12.63. Within the past year, the stock has seen a low of $10.03 and a high of $19.49, indicating significant volatility. With a market capitalization of $2.12 billion, the firm has a price-to-earnings (P/E) ratio of 405.83 and a price-to-earnings-growth (PEG) ratio of 3.46, alongside a beta of 1.91, suggesting a higher level of risk compared to the broader market.

Financial Performance

DigitalBridge Group recently released their quarterly earnings report on February 20th, announcing earnings per share (EPS) of $0.11, which surpassed the consensus estimate of $0.08 by $0.03. The company achieved a net margin of 10.98% along with a return on equity of 4.29%. The revenue for the quarter reached $101.55 million, exceeding the anticipated $93.01 million. Analysts predict that DigitalBridge Group will post earnings of $0.17 per share for the current fiscal year.

Institutional Trading Activity

In recent months, several institutional investors have either increased or reduced their holdings in DigitalBridge Group. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted their stake by 24.9% in the third quarter, owning now 1,364,524 shares valued at approximately $19.28 million. Similarly, Geode Capital Management LLC raised its holdings by 8.3%, reaching 4,167,413 shares worth about $58.89 million. UBS Asset Management also increased its stake by an impressive 101.9%. Additionally, Horizon Kinetics Asset Management LLC acquired a new position valued at around $6.54 million in the same time frame. A remarkable 92.69% of DigitalBridge Group's stock is currently owned by institutional investors and hedge funds.

Company Overview

DigitalBridge Group, Inc. specializes in infrastructure investments, focusing on digital infrastructure assets. The firm provides investment services primarily to institutional investors, with interests in data centers, cell towers, fiber networks, and edge infrastructure. Founded in 1991, DigitalBridge is based in Boca Raton, Florida, with additional offices located in Los Angeles and New York.

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