#1 - DigitalBridge Group (NYSE:DBRG)
DigitalBridge Group (NYSE: DBRG) is a picks-and-shovels way for investors to capitalize on the growing demand for artificial intelligence (AI) applications. But instead of providing the actual picks and shovels, DigitalBridge invests in the companies that make the picks and shovels. In the case of AI, that means the data centers, fiber networks, and edge infrastructure that are essential to the growth of AI.
In its fourth quarter and full-year 2023 earnings report, DigitalBridge reported record growth in its pipeline and data center leasing. The company this is the early impact of generative AI (GenAI) demand. As evidence of that, the company’s data center portfolio posted a 24% year-over-year (YOY) increase in annual recurring revenue (ARR) during the quarter.
This was also DigitalBridge Group’s second consecutive profitable quarter and the third straight quarter when it posted YOY revenue beats. Analysts forecast a 60% increase in earnings in the next 12 months. That supports their consensus Buy rating and $22.08 price target, which is 26.8% higher than its price on April 24, 2024.
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.
- Current Price
- $11.80
- Consensus Rating
- Buy
- Ratings Breakdown
- 7 Buy Ratings, 1 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- $18.13 (53.6% Upside)
