Digimarc (DMRC) PT Lowered to $38.00

Digimarc (NASDAQ:DMRC) had its price objective decreased by Needham & Company LLC from $42.00 to $38.00 in a research report report published on Thursday, Marketbeat reports. Needham & Company LLC currently has a buy rating on the information technology services provider’s stock.

Other equities research analysts also recently issued reports about the stock. Zacks Investment Research downgraded shares of Digimarc from a hold rating to a sell rating in a research note on Wednesday. BidaskClub raised shares of Digimarc from a sell rating to a hold rating in a research note on Wednesday, January 10th. B. Riley reaffirmed a buy rating and issued a $44.00 target price on shares of Digimarc in a research note on Friday, October 27th. Finally, ValuEngine raised shares of Digimarc from a sell rating to a hold rating in a research note on Tuesday, February 13th. Three equities research analysts have rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the company. The company presently has a consensus rating of Hold and an average price target of $43.75.

Shares of Digimarc (NASDAQ:DMRC) opened at $26.55 on Thursday. Digimarc has a one year low of $24.20 and a one year high of $41.75.

Digimarc (NASDAQ:DMRC) last announced its earnings results on Wednesday, February 21st. The information technology services provider reported ($0.76) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.73) by ($0.03). The company had revenue of $4.90 million during the quarter, compared to analysts’ expectations of $5.26 million. Digimarc had a negative net margin of 102.21% and a negative return on equity of 34.25%. The company’s revenue for the quarter was down 5.8% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.57) earnings per share. analysts expect that Digimarc will post -2.76 earnings per share for the current fiscal year.

In other Digimarc news, CEO Bruce L. Davis sold 9,444 shares of Digimarc stock in a transaction that occurred on Monday, December 11th. The shares were sold at an average price of $35.78, for a total transaction of $337,906.32. Following the transaction, the chief executive officer now directly owns 87,014 shares of the company’s stock, valued at $3,113,360.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Bruce L. Davis sold 5,000 shares of Digimarc stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $30.53, for a total transaction of $152,650.00. Following the transaction, the chief executive officer now directly owns 92,014 shares in the company, valued at $2,809,187.42. The disclosure for this sale can be found here. Insiders have sold 29,444 shares of company stock worth $1,036,556 over the last three months. Insiders own 7.50% of the company’s stock.

Hedge funds have recently bought and sold shares of the business. Pratt Collard Advisory Partners LLC purchased a new position in shares of Digimarc during the fourth quarter worth approximately $5,016,000. FMR LLC purchased a new position in shares of Digimarc during the second quarter worth approximately $6,413,000. Janney Montgomery Scott LLC grew its holdings in shares of Digimarc by 4.3% in the third quarter. Janney Montgomery Scott LLC now owns 80,222 shares of the information technology services provider’s stock worth $2,936,000 after purchasing an additional 3,289 shares during the last quarter. Suffolk Capital Management LLC bought a new position in shares of Digimarc in the third quarter worth approximately $1,336,000. Finally, Baillie Gifford & Co. grew its holdings in shares of Digimarc by 3.4% in the third quarter. Baillie Gifford & Co. now owns 261,462 shares of the information technology services provider’s stock worth $9,570,000 after purchasing an additional 8,564 shares during the last quarter. 60.51% of the stock is currently owned by hedge funds and other institutional investors.

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Digimarc Company Profile

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.

Analyst Recommendations for Digimarc (NASDAQ:DMRC)

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