Digimarc Corporation (DMRC) Given Average Recommendation of “Hold” by Analysts
Digimarc Corporation (NASDAQ:DMRC) has been given an average recommendation of “Hold” by the eight analysts that are presently covering the stock, MarketBeat reports. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $45.75.
A number of equities analysts recently issued reports on the stock. B. Riley reiterated a “buy” rating and issued a $44.00 price target on shares of Digimarc Corporation in a research note on Monday, July 24th. Cowen and Company set a $50.00 price target on shares of Digimarc Corporation and gave the stock a “buy” rating in a research note on Thursday, July 27th. BidaskClub cut shares of Digimarc Corporation from a “hold” rating to a “sell” rating in a research note on Tuesday, July 25th. Zacks Investment Research upgraded shares of Digimarc Corporation from a “sell” rating to a “hold” rating in a research note on Tuesday, July 11th. Finally, Needham & Company LLC upped their price target on shares of Digimarc Corporation from $33.00 to $42.00 and gave the stock a “buy” rating in a research note on Monday, June 19th.
Shares of Digimarc Corporation (NASDAQ DMRC) opened at 28.05 on Friday. Digimarc Corporation has a 12-month low of $24.20 and a 12-month high of $41.75. The stock’s market cap is $302.10 million. The company’s 50-day moving average is $31.36 and its 200-day moving average is $29.97.
Digimarc Corporation (NASDAQ:DMRC) last announced its quarterly earnings results on Wednesday, July 26th. The information technology services provider reported ($0.68) earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of ($0.68). The company had revenue of $5.59 million for the quarter, compared to analysts’ expectations of $5.69 million. Digimarc Corporation had a negative net margin of 107.49% and a negative return on equity of 32.18%. Digimarc Corporation’s revenue was up 2.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.62) EPS. On average, equities research analysts anticipate that Digimarc Corporation will post ($2.69) earnings per share for the current year.
In other Digimarc Corporation news, insider Tony Rodriguez sold 2,000 shares of the business’s stock in a transaction dated Friday, June 2nd. The stock was sold at an average price of $35.30, for a total value of $70,600.00. Following the completion of the transaction, the insider now owns 31,887 shares of the company’s stock, valued at approximately $1,125,611.10. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Charles Beck sold 1,000 shares of the business’s stock in a transaction dated Friday, June 30th. The stock was sold at an average price of $40.33, for a total value of $40,330.00. Following the completion of the transaction, the chief financial officer now directly owns 39,075 shares of the company’s stock, valued at approximately $1,575,894.75. The disclosure for this sale can be found here. In the last three months, insiders sold 10,000 shares of company stock valued at $379,430. 7.50% of the stock is owned by insiders.
Institutional investors have recently modified their holdings of the company. State Street Corp raised its position in shares of Digimarc Corporation by 10.7% in the fourth quarter. State Street Corp now owns 143,696 shares of the information technology services provider’s stock worth $4,311,000 after buying an additional 13,930 shares during the period. Formula Growth Ltd. raised its position in shares of Digimarc Corporation by 70.0% in the first quarter. Formula Growth Ltd. now owns 210,417 shares of the information technology services provider’s stock worth $5,681,000 after buying an additional 86,607 shares during the period. Blair William & Co. IL acquired a new position in shares of Digimarc Corporation during the first quarter worth $1,926,000. Primecap Management Co. CA raised its position in shares of Digimarc Corporation by 30.3% in the first quarter. Primecap Management Co. CA now owns 460,000 shares of the information technology services provider’s stock worth $12,420,000 after buying an additional 107,000 shares during the period. Finally, Essex Investment Management Co. LLC acquired a new position in shares of Digimarc Corporation during the second quarter worth $2,757,000. 54.39% of the stock is owned by institutional investors and hedge funds.
About Digimarc Corporation
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.
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