Digimarc (NASDAQ:DMRC) received a $55.00 price target from Northland Securities in a research note issued on Friday, TipRanks reports. The firm currently has a “buy” rating on the information technology services provider’s stock. Northland Securities’ price target would suggest a potential upside of 40.70% from the stock’s current price.
Several other research analysts also recently commented on the company. ValuEngine downgraded Digimarc from a “buy” rating to a “hold” rating in a report on Wednesday, September 4th. Needham & Company LLC downgraded Digimarc from a “buy” rating to a “hold” rating in a report on Thursday, May 30th. They noted that the move was a valuation call. B. Riley downgraded Digimarc from a “buy” rating to a “neutral” rating and lifted their price objective for the stock from $44.00 to $57.50 in a report on Thursday, May 30th. BidaskClub upgraded Digimarc from a “strong sell” rating to a “sell” rating in a report on Friday, September 6th. Finally, Zacks Investment Research downgraded Digimarc from a “hold” rating to a “sell” rating in a report on Wednesday, June 12th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $49.75.
NASDAQ:DMRC traded down $0.66 during trading hours on Friday, hitting $39.09. 74,900 shares of the company’s stock traded hands, compared to its average volume of 135,584. The firm has a market cap of $516.48 million, a P/E ratio of -13.67 and a beta of 0.11. Digimarc has a 52 week low of $14.03 and a 52 week high of $66.50. The business’s fifty day simple moving average is $41.61 and its two-hundred day simple moving average is $43.02.
Digimarc (NASDAQ:DMRC) last released its quarterly earnings results on Wednesday, July 24th. The information technology services provider reported ($0.68) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.75) by $0.07. Digimarc had a negative return on equity of 56.59% and a negative net margin of 149.00%. The business had revenue of $6.18 million for the quarter. As a group, equities research analysts anticipate that Digimarc will post -2.83 earnings per share for the current fiscal year.
A number of large investors have recently made changes to their positions in DMRC. D. E. Shaw & Co. Inc. increased its holdings in Digimarc by 158.9% during the 2nd quarter. D. E. Shaw & Co. Inc. now owns 121,383 shares of the information technology services provider’s stock valued at $5,388,000 after purchasing an additional 74,502 shares during the period. RMB Capital Management LLC boosted its position in shares of Digimarc by 259.1% in the 2nd quarter. RMB Capital Management LLC now owns 83,274 shares of the information technology services provider’s stock worth $3,697,000 after purchasing an additional 60,086 shares in the last quarter. Nuveen Asset Management LLC bought a new stake in shares of Digimarc in the 2nd quarter worth approximately $1,878,000. BlackRock Inc. boosted its position in shares of Digimarc by 4.7% in the 2nd quarter. BlackRock Inc. now owns 781,427 shares of the information technology services provider’s stock worth $34,687,000 after purchasing an additional 35,124 shares in the last quarter. Finally, Handelsbanken Fonder AB boosted its position in shares of Digimarc by 28.6% in the 2nd quarter. Handelsbanken Fonder AB now owns 90,000 shares of the information technology services provider’s stock worth $3,995,000 after purchasing an additional 20,000 shares in the last quarter. Institutional investors own 58.10% of the company’s stock.
Digimarc Corporation provides media identification and management solutions to government and commercial customers in the United States and internationally. It 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.
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