Cowen and Company Reaffirms Buy Rating for Digimarc Corporation (DMRC)

Cowen and Company restated their buy rating on shares of Digimarc Corporation (NASDAQ:DMRC) in a research report sent to investors on Sunday. They currently have a $50.00 price target on the information technology services provider’s stock.

DMRC has been the subject of several other research reports. BidaskClub lowered shares of Digimarc Corporation from a hold rating to a sell rating in a research report on Tuesday, July 25th. Needham & Company LLC restated a buy rating and set a $42.00 price objective on shares of Digimarc Corporation in a research report on Monday, July 10th. Zacks Investment Research lowered shares of Digimarc Corporation from a hold rating to a sell rating in a research report on Tuesday, July 18th. ValuEngine upgraded shares of Digimarc Corporation from a sell rating to a hold rating in a research report on Friday, June 2nd. Finally, Craig Hallum lowered shares of Digimarc Corporation from a buy rating to a hold rating in a research report on Friday, July 7th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the company. The stock presently has an average rating of Hold and an average target price of $45.75.

Digimarc Corporation (NASDAQ:DMRC) opened at 32.80 on Friday. The firm’s 50-day moving average is $30.13 and its 200-day moving average is $30.79. The firm’s market cap is $353.26 million. Digimarc Corporation has a 12 month low of $24.20 and a 12 month high of $41.75.

Digimarc Corporation (NASDAQ:DMRC) last posted its quarterly earnings data on Wednesday, July 26th. The information technology services provider reported ($0.68) earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.68). Digimarc Corporation had a negative net margin of 107.49% and a negative return on equity of 32.18%. The company had revenue of $5.59 million during the quarter, compared to analyst estimates of $5.69 million. During the same quarter last year, the firm posted ($0.62) EPS. The business’s revenue for the quarter was up 2.4% on a year-over-year basis. Equities analysts expect that Digimarc Corporation will post ($2.68) earnings per share for the current year.

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In other Digimarc Corporation news, CFO Charles Beck sold 1,000 shares of the company’s stock in a transaction dated Friday, June 30th. The shares were sold at an average price of $40.33, for a total transaction of $40,330.00. Following the completion of the sale, the chief financial officer now directly owns 39,075 shares of the company’s stock, valued at $1,575,894.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Bruce L. Davis sold 700 shares of the company’s stock in a transaction dated Wednesday, July 5th. The shares were sold at an average price of $38.17, for a total transaction of $26,719.00. Following the sale, the chief executive officer now directly owns 57,144 shares of the company’s stock, valued at $2,181,186.48. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 6,000 shares of company stock valued at $233,330. Insiders own 7.50% of the company’s stock.

A number of hedge funds have recently bought and sold shares of the business. Senvest Management LLC lifted its stake in Digimarc Corporation by 1.5% during the second quarter. Senvest Management LLC now owns 1,004,234 shares of the information technology services provider’s stock valued at $40,320,000 after buying an additional 15,152 shares in the last quarter. Lagoda Investment Management L.P. lifted its stake in Digimarc Corporation by 9.5% during the second quarter. Lagoda Investment Management L.P. now owns 666,546 shares of the information technology services provider’s stock valued at $26,762,000 after buying an additional 58,053 shares in the last quarter. Primecap Management Co. CA lifted its stake in Digimarc Corporation by 30.3% during the first quarter. Primecap Management Co. CA now owns 460,000 shares of the information technology services provider’s stock valued at $12,420,000 after buying an additional 107,000 shares in the last quarter. Vanguard Group Inc. lifted its stake in Digimarc Corporation by 2.6% during the second quarter. Vanguard Group Inc. now owns 444,335 shares of the information technology services provider’s stock valued at $17,840,000 after buying an additional 11,296 shares in the last quarter. Finally, Hood River Capital Management LLC lifted its stake in Digimarc Corporation by 2.6% during the second quarter. Hood River Capital Management LLC now owns 306,215 shares of the information technology services provider’s stock valued at $12,295,000 after buying an additional 7,818 shares in the last quarter. 52.75% of the stock is owned by institutional investors.

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.

Analyst Recommendations for Digimarc Corporation (NASDAQ:DMRC)

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