Digimarc (DMRC) Receives Average Rating of “Hold” from Analysts

Shares of Digimarc (NASDAQ:DMRC) have been assigned a consensus rating of “Hold” from the eight analysts that are covering the company, MarketBeat reports. Three research analysts have rated the stock with a sell recommendation, one has assigned a hold recommendation and four have issued a buy recommendation on the company. The average 12-month price target among brokerages that have covered the stock in the last year is $43.75.

A number of brokerages recently weighed in on DMRC. BidaskClub upgraded shares of Digimarc from a “sell” rating to a “hold” rating in a research note on Wednesday, January 10th. Zacks Investment Research cut shares of Digimarc from a “hold” rating to a “sell” rating in a research note on Tuesday, January 2nd. National Securities set a $43.00 target price on shares of Digimarc and gave the stock a “buy” rating in a research note on Thursday, February 22nd. Needham & Company LLC reduced their target price on shares of Digimarc from $42.00 to $38.00 and set a “buy” rating for the company in a research note on Thursday, February 22nd. Finally, ValuEngine upgraded shares of Digimarc from a “sell” rating to a “hold” rating in a research note on Tuesday, February 13th.

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NASDAQ:DMRC traded down $0.40 during trading hours on Friday, reaching $25.05. 49,674 shares of the company’s stock were exchanged, compared to its average volume of 72,066. The stock has a market cap of $296.84, a P/E ratio of -10.27 and a beta of -0.99. Digimarc has a 1-year low of $22.85 and a 1-year high of $41.75.

Digimarc (NASDAQ:DMRC) last issued its quarterly earnings results on Wednesday, February 21st. The information technology services provider reported ($0.76) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.73) by ($0.03). The business had revenue of $4.90 million for the quarter, compared to analyst estimates of $5.26 million. Digimarc had a negative return on equity of 33.46% and a negative net margin of 102.21%. The firm’s revenue for the quarter was down 5.8% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.57) EPS. analysts anticipate 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 firm’s stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $30.53, for a total value of $152,650.00. Following the completion of the sale, the chief executive officer now owns 92,014 shares in the company, valued at approximately $2,809,187.42. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 7.50% of the stock is currently owned by company insiders.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Lagoda Investment Management L.P. increased its holdings in shares of Digimarc by 3.1% in the 3rd quarter. Lagoda Investment Management L.P. now owns 687,296 shares of the information technology services provider’s stock valued at $25,155,000 after purchasing an additional 20,750 shares in the last quarter. BlackRock Inc. increased its holdings 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. Garelick Capital Partners LP increased its holdings in shares of Digimarc by 21.3% in the 4th quarter. Garelick Capital Partners LP now owns 332,863 shares of the information technology services provider’s stock valued at $12,033,000 after purchasing an additional 58,392 shares in the last quarter. Hood River Capital Management LLC increased its holdings 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. Finally, State Street Corp increased its holdings in shares of Digimarc by 4.7% in the 2nd quarter. State Street Corp now owns 167,370 shares of the information technology services provider’s stock valued at $6,718,000 after purchasing an additional 7,581 shares in the last quarter. Institutional investors and hedge funds own 56.78% of the company’s stock.

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About Digimarc

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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