Digimarc Corporation (DMRC) Given a $50.00 Price Target at Cowen and Company
Cowen and Company set a $50.00 price objective on Digimarc Corporation (NASDAQ:DMRC) in a report issued on Thursday morning. The firm currently has a buy rating on the information technology services provider’s stock.
Several other research firms also recently commented on DMRC. Zacks Investment Research raised shares of Digimarc Corporation from a sell rating to a hold rating in a report on Tuesday, July 11th. BidaskClub downgraded shares of Digimarc Corporation from a buy rating to a hold rating in a report on Tuesday, July 11th. B. Riley reissued a buy rating and set a $44.00 price objective on shares of Digimarc Corporation in a report on Sunday, April 30th. ValuEngine raised shares of Digimarc Corporation from a sell rating to a hold rating in a report on Friday, June 2nd. Finally, Needham & Company LLC increased their price objective on shares of Digimarc Corporation from $33.00 to $42.00 and gave the company a buy rating in a report on Monday, June 19th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the company’s stock. The company has an average rating of Hold and an average price target of $45.75.
Digimarc Corporation (DMRC) opened at 30.90 on Thursday. The stock has a 50 day moving average price of $34.80 and a 200 day moving average price of $29.69. Digimarc Corporation has a 12-month low of $24.20 and a 12-month high of $41.75. The stock’s market cap is $332.79 million.
Digimarc Corporation (NASDAQ:DMRC) last released its quarterly earnings data on Wednesday, July 26th. The information technology services provider reported ($0.68) EPS for the quarter, meeting the consensus estimate of ($0.68). Digimarc Corporation had a negative net margin of 107.49% and a negative return on equity of 32.18%. The business had revenue of $5.59 million during the quarter, compared to the consensus estimate of $5.69 million. During the same quarter in the prior year, the firm earned ($0.62) EPS. The business’s revenue was up 2.4% on a year-over-year basis. On average, analysts forecast that Digimarc Corporation will post ($2.68) earnings per share for the current fiscal year.
In other news, EVP Joel Meyer sold 7,000 shares of the company’s stock in a transaction dated Monday, May 15th. The shares were sold at an average price of $31.77, for a total transaction of $222,390.00. Following the sale, the executive vice president now directly owns 70,121 shares in the company, valued at approximately $2,227,744.17. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Bruce L. Davis sold 4,300 shares of the company’s stock in a transaction dated Monday, July 3rd. The shares were sold at an average price of $38.67, for a total transaction of $166,281.00. Following the sale, the chief executive officer now owns 57,144 shares in the company, valued at $2,209,758.48. The disclosure for this sale can be found here. Insiders have sold a total of 17,000 shares of company stock worth $601,820 over the last 90 days. Corporate insiders own 7.50% of the company’s stock.
A number of hedge funds have recently bought and sold shares of the company. American International Group Inc. raised its stake in Digimarc Corporation by 8.1% in the first quarter. American International Group Inc. now owns 5,198 shares of the information technology services provider’s stock worth $140,000 after buying an additional 391 shares during the period. WealthTrust Arizona LLC raised its stake in Digimarc Corporation by 3.9% in the first quarter. WealthTrust Arizona LLC now owns 5,285 shares of the information technology services provider’s stock worth $143,000 after buying an additional 200 shares during the period. Berson & Corrado Investment Advisors LLC purchased a new stake in Digimarc Corporation during the second quarter worth $385,000. Cornerstone Financial Partners LLC purchased a new stake in Digimarc Corporation during the second quarter worth $405,000. Finally, RMB Capital Management LLC purchased a new stake in Digimarc Corporation during the fourth quarter worth $309,000. 54.54% of the stock is currently owned by institutional investors.
Digimarc Corporation Company Profile
Digimarc Corporation (Digimarc) enables governments and enterprises to give digital identities to media and objects that computers can sense and recognize. The Company’s Digimarc Discover, Digimarc Barcode and Intuitive Computing Platform are designed to optimize the identification of consumer brand impressions, facilitating mobile-centric shopping.
Receive News & Ratings for Digimarc Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Digimarc Corporation and related companies with Analyst Ratings Network's FREE daily email newsletter.