Digimarc (DMRC) Upgraded by BidaskClub to “Hold”

BidaskClub upgraded shares of Digimarc (NASDAQ:DMRC) from a sell rating to a hold rating in a research note published on Friday morning.

Several other brokerages have also recently weighed in on DMRC. 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 price objective on shares of Digimarc and gave the stock a buy rating in a research note on Thursday, February 22nd. Needham & Company LLC lowered their price objective 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, ValuEngine upgraded shares of Digimarc from a sell rating to a hold rating in a research note on Tuesday, February 13th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the stock. Digimarc presently has an average rating of Hold and an average target price of $43.75.

Shares of NASDAQ:DMRC traded up $0.55 during trading on Friday, hitting $28.95. The company’s stock had a trading volume of 84,330 shares, compared to its average volume of 65,770. Digimarc has a 12 month low of $22.85 and a 12 month high of $41.75. The stock has a market capitalization of $336.54, a PE ratio of -11.86 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) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate 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 business had revenue of $4.90 million during the quarter, compared to the consensus estimate of $5.26 million. During the same quarter last year, the company earned ($0.57) EPS. Digimarc’s revenue for the quarter was down 5.8% on a year-over-year basis. equities analysts forecast that Digimarc will post -2.93 earnings per share for the current year.

In other Digimarc news, CEO Bruce L. Davis sold 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $30.53, for a total transaction 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 transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 7.50% of the stock is currently owned by company insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in DMRC. Pratt Collard Advisory Partners LLC bought a new stake in Digimarc during the 4th quarter worth approximately $5,016,000. Garelick Capital Partners LP raised its stake in Digimarc by 21.3% during the 4th 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. Hood River Capital Management LLC raised its stake in Digimarc by 23.3% during the 4th quarter. Hood River Capital Management LLC now owns 253,004 shares of the information technology services provider’s stock worth $9,146,000 after acquiring an additional 47,774 shares during the period. Deutsche Bank AG raised its stake in Digimarc by 89.4% during the 4th quarter. Deutsche Bank AG now owns 22,891 shares of the information technology services provider’s stock worth $826,000 after acquiring an additional 10,803 shares during the period. Finally, Wolverine Trading LLC bought a new stake in Digimarc during the 4th quarter worth approximately $338,000. Institutional investors 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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