Digimarc Corporation (NASDAQ:DMRC)‘s stock had its “buy” rating reissued by stock analysts at Cowen and Company in a research report issued on Sunday. They currently have a $50.00 target price on the information technology services provider’s stock. Cowen and Company’s target price points to a potential upside of 51.52% from the stock’s current price.
Several other research firms have also recently commented on DMRC. Craig Hallum cut Digimarc Corporation from a “buy” rating to a “hold” rating in a research note on Friday, July 7th. Needham & Company LLC boosted their price target on Digimarc Corporation from $33.00 to $42.00 and gave the stock a “buy” rating in a research note on Monday, June 19th. ValuEngine upgraded Digimarc Corporation from a “sell” rating to a “hold” rating in a research note on Friday, June 2nd. BidaskClub cut Digimarc Corporation from a “buy” rating to a “hold” rating in a research note on Tuesday, July 11th. Finally, B. Riley reiterated a “buy” rating and issued a $44.00 price target on shares of Digimarc Corporation in a research note on Saturday, July 29th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $45.75.
Shares of Digimarc Corporation (NASDAQ:DMRC) opened at 33.00 on Friday. The firm has a 50-day moving average price of $30.02 and a 200-day moving average price of $30.61. The firm’s market cap is $355.41 million. Digimarc Corporation has a 52-week low of $24.20 and a 52-week high of $41.75.
Digimarc Corporation (NASDAQ:DMRC) last issued its quarterly earnings data on Wednesday, July 26th. The information technology services provider reported ($0.68) 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 return on equity of 32.18% and a negative net margin of 107.49%. The firm’s quarterly revenue was up 2.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.62) earnings per share. Analysts predict that Digimarc Corporation will post ($2.68) EPS for the current fiscal year.
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In related news, CEO Bruce L. Davis sold 700 shares of the business’s stock in a transaction dated Wednesday, July 5th. The stock was sold at an average price of $38.17, for a total value of $26,719.00. Following the transaction, the chief executive officer now owns 57,144 shares in the company, valued at $2,181,186.48. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Tony Rodriguez sold 2,000 shares of the business’s stock in a transaction dated Monday, June 19th. The stock was sold at an average price of $37.75, for a total value of $75,500.00. Following the completion of the transaction, the insider now owns 29,887 shares in the company, valued at approximately $1,128,234.25. The disclosure for this sale can be found here. In the last quarter, insiders sold 8,000 shares of company stock worth $308,830. Insiders own 7.50% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the business. American International Group Inc. raised its stake in Digimarc Corporation by 8.1% during the first quarter. American International Group Inc. now owns 5,198 shares of the information technology services provider’s stock valued at $140,000 after buying an additional 391 shares in the last quarter. Wolverine Trading LLC acquired a new stake in Digimarc Corporation during the second quarter valued at approximately $272,000. Alliancebernstein L.P. acquired a new stake in Digimarc Corporation during the second quarter valued at approximately $301,000. The Manufacturers Life Insurance Company raised its stake in Digimarc Corporation by 6.9% during the second quarter. The Manufacturers Life Insurance Company now owns 8,339 shares of the information technology services provider’s stock valued at $334,000 after buying an additional 540 shares in the last quarter. Finally, Berson & Corrado Investment Advisors LLC acquired a new stake in Digimarc Corporation during the second quarter valued at approximately $385,000. Hedge funds and other institutional investors own 53.28% of the company’s stock.
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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