Digimarc (NASDAQ:DMRC) Price Target Raised to $15.00 at Needham & Company LLC

Digimarc (NASDAQ:DMRC) had its price objective raised by Needham & Company LLC from $10.00 to $15.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm presently has a “buy” rating on the information technology services provider’s stock. Needham & Company LLC’s price target suggests a potential upside of 50.91% from the company’s previous close.

A number of other research firms have also recently commented on DMRC. Wall Street Zen upgraded Digimarc from a “sell” rating to a “hold” rating in a research note on Saturday, March 14th. Weiss Ratings restated a “sell (e+)” rating on shares of Digimarc in a research note on Monday, April 20th. One research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $15.00.

Digimarc Trading Down 5.9%

NASDAQ DMRC traded down $0.62 on Thursday, hitting $9.94. The company’s stock had a trading volume of 176,364 shares, compared to its average volume of 235,084. Digimarc has a 52-week low of $4.07 and a 52-week high of $14.64. The company’s 50-day simple moving average is $6.38 and its 200 day simple moving average is $6.80. The firm has a market cap of $219.57 million, a P/E ratio of -7.83 and a beta of 1.88.

Digimarc (NASDAQ:DMRC) last released its quarterly earnings data on Tuesday, May 12th. The information technology services provider reported ($0.07) earnings per share for the quarter, topping the consensus estimate of ($0.36) by $0.29. The business had revenue of $7.58 million during the quarter, compared to analysts’ expectations of $7.05 million. Digimarc had a negative return on equity of 20.71% and a negative net margin of 85.75%.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Cubist Systematic Strategies LLC purchased a new position in Digimarc during the first quarter valued at $128,000. Engineers Gate Manager LP purchased a new position in Digimarc during the second quarter valued at $132,000. Invesco Ltd. purchased a new position in Digimarc during the fourth quarter valued at $78,000. Jump Financial LLC purchased a new position in Digimarc during the second quarter valued at $163,000. Finally, Voleon Capital Management LP purchased a new position in Digimarc during the third quarter valued at $129,000. Hedge funds and other institutional investors own 66.85% of the company’s stock.

Digimarc Company Profile

Digimarc Corporation is a technology company specializing in digital identification and authentication solutions. Its core offering centers on embedding imperceptible digital watermarks into images, audio, video and packaging materials. These watermarks carry unique identifiers that enable secure tracking, brand protection and content provenance across print and digital channels.

The company’s product suite includes software development kits and cloud-based services that allow enterprises to integrate digital watermarking into their existing workflows.