Digimarc Corporation (NASDAQ:DMRC) has been given an average rating of “Hold” by the eight analysts that are presently covering the company, Marketbeat.com reports. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the company. The average 1-year price objective among analysts that have covered the stock in the last year is $45.75.
DMRC has been the topic of a number of recent analyst reports. Zacks Investment Research upgraded Digimarc Corporation from a “sell” rating to a “hold” rating in a research report on Friday, April 14th. B. Riley reiterated a “buy” rating and issued a $44.00 target price on shares of Digimarc Corporation in a research report on Tuesday, April 25th. ValuEngine upgraded Digimarc Corporation from a “sell” rating to a “hold” rating in a research report on Friday, June 2nd. Needham & Company LLC lifted their target price on Digimarc Corporation from $33.00 to $42.00 and gave the company a “buy” rating in a research report on Monday, June 19th. Finally, Cowen and Company lifted their target price on Digimarc Corporation from $45.00 to $50.00 and gave the company an “outperform” rating in a research report on Tuesday, June 27th.
In other Digimarc Corporation news, insider Tony Rodriguez sold 2,000 shares of the business’s stock in a transaction that occurred on Friday, June 2nd. The stock was sold at an average price of $35.30, for a total value of $70,600.00. Following the transaction, the insider now directly owns 31,887 shares of the company’s stock, valued at $1,125,611.10. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Joel Meyer sold 7,000 shares of the business’s stock in a transaction that occurred on Monday, May 15th. The shares were sold at an average price of $31.77, for a total value of $222,390.00. Following the completion of the transaction, the executive vice president now directly owns 70,121 shares in the company, valued at $2,227,744.17. The disclosure for this sale can be found here. Insiders sold 17,000 shares of company stock worth $601,820 over the last quarter. 7.50% of the stock is currently owned by company insiders.
Institutional investors have recently modified their holdings of the company. Primecap Management Co. CA raised its position in shares of Digimarc Corporation by 30.3% in the first quarter. Primecap Management Co. CA now owns 460,000 shares of the information technology services provider’s stock worth $12,420,000 after buying an additional 107,000 shares during the last quarter. Formula Growth Ltd. raised its position in shares of Digimarc Corporation by 70.0% in the first quarter. Formula Growth Ltd. now owns 210,417 shares of the information technology services provider’s stock worth $5,681,000 after buying an additional 86,607 shares during the last quarter. American International Group Inc. raised its position in shares of Digimarc Corporation by 8.1% in the first quarter. American International Group Inc. now owns 5,198 shares of the information technology services provider’s stock worth $140,000 after buying an additional 391 shares during the last quarter. Blair William & Co. IL purchased a new position in shares of Digimarc Corporation during the first quarter worth $1,926,000. Finally, Hood River Capital Management LLC raised its position in shares of Digimarc Corporation by 3.2% in the first quarter. Hood River Capital Management LLC now owns 298,397 shares of the information technology services provider’s stock worth $8,057,000 after buying an additional 9,293 shares during the last quarter. 54.94% of the stock is currently owned by institutional investors.
Digimarc Corporation (NASDAQ DMRC) traded up 0.70% during midday trading on Tuesday, hitting $28.65. 76,399 shares of the stock traded hands. The company has a 50-day moving average price of $33.13 and a 200-day moving average price of $29.88. Digimarc Corporation has a 1-year low of $24.20 and a 1-year high of $41.75. The firm’s market cap is $308.56 million.
Digimarc Corporation (NASDAQ:DMRC) last released its earnings results on Wednesday, July 26th. The information technology services provider reported ($0.68) earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of ($0.68). Digimarc Corporation had a negative return on equity of 32.18% and a negative net margin of 107.49%. The firm had revenue of $5.59 million for the quarter, compared to analysts’ expectations of $5.69 million. During the same quarter in the previous year, the business posted ($0.62) earnings per share. The business’s revenue for the quarter was up 2.4% on a year-over-year basis. Analysts predict that Digimarc Corporation will post ($2.69) EPS for the current year.
Digimarc Corporation 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.
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