Industry Analysts Just Made A Meaningful Upgrade To Their DigitalBridge Group, Inc. (NYSE:DBRG) Revenue Forecasts

DigitalBridge Group, Inc. (NYSE:DBRG) shareholders will have a reason to smile today, with the analysts making substantial upgrades to this year's statutory forecasts. The analysts have sharply increased their revenue numbers, with a view that DigitalBridge Group will make substantially more sales than they'd previously expected.

Following the latest upgrade, the current consensus, from the five analysts covering DigitalBridge Group, is for revenues of US$1.4b in 2023, which would reflect a definite 15% reduction in DigitalBridge Group's sales over the past 12 months. Before the latest update, the analysts were foreseeing US$1.2b of revenue in 2023. It looks like there's been a clear increase in optimism around DigitalBridge Group, given the nice increase in revenue forecasts.

View our latest analysis for DigitalBridge Group

The consensus price target rose 19% to US$23.06, with the analysts clearly more optimistic about DigitalBridge Group's prospects following this update.

One way to get more context on these forecasts is to look at how they compare to both past performance, and how other companies in the same industry are performing. Over the past five years, revenues have declined around 9.3% annually. Worse, forecasts are essentially predicting the decline to accelerate, with the estimate for an annualised 28% decline in revenue until the end of 2023. By contrast, our data suggests that other companies (with analyst coverage) in a similar industry are forecast to see their revenue grow 10% per year. So while a broad number of companies are forecast to grow, unfortunately DigitalBridge Group is expected to see its sales affected worse than other companies in the industry.

The Bottom Line

The highlight for us was that analysts increased their revenue forecasts for DigitalBridge Group this year. They also expect company revenue to perform worse than the wider market. There was also an increase in the price target, suggesting that there is more optimism baked into the forecasts than there was previously. Seeing the dramatic upgrade to this year's forecasts, it might be time to take another look at DigitalBridge Group.

Want to learn more? At least one of DigitalBridge Group's five analysts has provided estimates out to 2025, which can be seen for free on our platform here.

Another way to search for interesting companies that could be reaching an inflection point is to track whether management are buying or selling, with our free list of growing companies that insiders are buying.

Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.

This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.