Digimarc (DMRC) Upgraded at BidaskClub

Digimarc (NASDAQ:DMRC) was upgraded by BidaskClub from a “strong sell” rating to a “sell” rating in a research note issued on Saturday.

A number of other equities analysts have also commented on the stock. ValuEngine lowered shares of Digimarc from a “sell” rating to a “strong sell” rating in a report on Tuesday. National Securities set a $43.00 target price on shares of Digimarc and gave the company a “buy” rating in a research note on Thursday, February 22nd. Needham & Company LLC cut their target price on shares of Digimarc from $42.00 to $38.00 and set a “buy” rating on the stock in a research note on Thursday, February 22nd. Finally, Zacks Investment Research lowered shares of Digimarc from a “hold” rating to a “sell” rating in a research note on Wednesday, February 21st. Three analysts have rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the stock. Digimarc currently has an average rating of “Hold” and an average target price of $43.75.

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Shares of DMRC stock opened at $25.05 on Friday. Digimarc has a 12 month low of $22.85 and a 12 month high of $41.75. The firm has a market capitalization of $289.73, a price-to-earnings ratio of -10.27 and a beta of -0.99.

Digimarc (NASDAQ:DMRC) last issued its quarterly earnings data on Wednesday, February 21st. The information technology services provider reported ($0.76) EPS for the quarter, missing analysts’ consensus estimates of ($0.73) by ($0.03). Digimarc had a negative return on equity of 33.46% and a negative net margin of 102.21%. The firm had revenue of $4.90 million during the quarter, compared to analyst estimates of $5.26 million. During the same quarter in the prior year, the firm earned ($0.57) EPS. The business’s quarterly revenue was down 5.8% compared to the same quarter last year. equities analysts expect that Digimarc will post -2.93 earnings per share for the current fiscal year.

In other news, CEO Bruce L. Davis sold 5,000 shares of the company’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $30.53, for a total value of $152,650.00. Following the sale, the chief executive officer now owns 92,014 shares in the company, valued at approximately $2,809,187.42. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 7.50% of the company’s stock.

Several institutional investors have recently modified their holdings of DMRC. Janney Montgomery Scott LLC raised its stake in shares of Digimarc by 4.3% in the 3rd quarter. Janney Montgomery Scott LLC now owns 80,222 shares of the information technology services provider’s stock valued at $2,936,000 after purchasing an additional 3,289 shares in the last quarter. Pratt Collard Advisory Partners LLC acquired a new stake in shares of Digimarc in the 4th quarter valued at about $5,016,000. Hood River Capital Management LLC raised its stake in shares of Digimarc by 23.3% in the 4th quarter. Hood River Capital Management LLC now owns 253,004 shares of the information technology services provider’s stock valued at $9,146,000 after purchasing an additional 47,774 shares in the last quarter. BlackRock Inc. raised its stake in shares of Digimarc by 1.3% in the 4th quarter. BlackRock Inc. now owns 609,488 shares of the information technology services provider’s stock valued at $22,033,000 after purchasing an additional 7,896 shares in the last quarter. Finally, Garelick Capital Partners LP raised its stake in Digimarc by 21.3% during the fourth quarter. Garelick Capital Partners LP now owns 332,863 shares of the information technology services provider’s stock worth $12,033,000 after acquiring an additional 58,392 shares during the period. Institutional investors and hedge funds own 56.78% of the company’s stock.

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Digimarc Company Profile

Digimarc Corporation provides media identification and management solutions to commercial entities and government customers in the United States and internationally. The company offers Digimarc Intuitive Computing Platform, a comprehensive set of technologies for identifying, discovering, and interacting with digitally-enhanced media, which includes Digimarc Barcode, a method for imperceptibly enhancing packaging, print, images, thermal labels, audio, and other objects with data that is detected by enabled devices, such as smart phones, computers, barcode scanners, and machine-vision equipment.

Analyst Recommendations for Digimarc (NASDAQ:DMRC)

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